First Savings Financial Group, Inc. (NASDAQ:FSFG) experienced a significant increase in short interest in December, marking a notable change in investor sentiment. As of December 15, 2023, the total short interest rose to 72,255 shares, reflecting a growth of 30.4% from the previous total of 55,422 shares reported on November 30, 2023. Currently, short positions account for 1.2% of the company’s total shares outstanding.
This increase in short selling indicates that investors are betting against the stock, which has implications for its future performance. With an average daily trading volume of 15,092 shares, the days-to-cover ratio stands at approximately 4.8 days. This ratio suggests how long it would take for short sellers to cover their positions if they were to decide to buy back the shares.
Analyst Ratings and Stock Performance
In a separate development, analysts have maintained a positive outlook on First Savings Financial Group. According to a research note from Weiss Ratings, the stock has received a “buy (B-)” rating as of October 8, 2023. Additionally, four research analysts have rated the stock as a buy, contributing to a consensus rating of “buy” with an average price target of $32.33, according to MarketBeat.
On December 14, 2023, shares of First Savings Financial Group traded down by 0.4%, closing at $31.86. During this session, 9,748 shares changed hands, below the average volume of 17,764 shares. Over the past year, the stock has fluctuated between a low of $21.63 and a high of $33.35. The company currently has a market capitalization of $223.66 million, a price-to-earnings ratio of 9.63, and a beta of 0.45.
Financial Highlights and Dividend Announcement
First Savings Financial Group recently released its quarterly earnings data, reporting earnings per share of $0.82 for the quarter ending October 30, 2023. This figure surpassed the consensus estimate of $0.76 by $0.06. The company achieved a return on equity of 11.51% and a net margin of 15.82%. Revenue for the quarter was $21.79 million, significantly exceeding the consensus estimate of $17.21 million.
Additionally, the company announced a quarterly dividend of $0.16, which was paid on December 31, 2023, to shareholders on record as of December 15, 2023. This dividend represents an annualized payment of $0.64 and yields 2.0%. The ex-dividend date for this distribution was also December 15, 2023. The current dividend payout ratio stands at 19.34%.
First Savings Financial Group, headquartered in Fairfield, Iowa, operates as a bank holding company and serves as the parent organization of First Savings Bank. The company focuses on providing a range of banking and financial services to individuals, small businesses, and agricultural clients within its regional markets. Its offerings include deposit accounts, consumer and residential mortgage loans, and commercial lending solutions, among others.
In summary, the sharp rise in short interest alongside strong analyst ratings and solid financial performance highlights the dynamic nature of First Savings Financial Group’s stock. Investors will be keen to watch how these factors influence the company’s performance in the coming months.
