First Savings Financial Group price target raised to $21 from $19 at Piper Sandler

Piper Sandler analyst Nathan Race raised the firm’s price target on First Savings Financial Group to $21 from $19 and keeps an Overweight rating on the shares. While First Savings Financial Group’s Q1 results were noisy with the completed mortgage unit wind-down and net interest income disappointed, the firm believes recent initiatives should lead to more consistent and stronger earnings going forward. Piper remains bullish given the company’s improving and higher multiple profitability outlook as well as its more benign credit quality profile.