KBW Reiterates Market Perform on First Financial Holdings

KBW is out with its report today on First Financial Holdings FFCH, reiterating Market Perform. In its report, KBW writes, "FFCH had a busy third quarter in which it completed the sale of its insurance subsidiary, acquired 5 branches in Hilton Head and moved $155M loans to held for sale. NCOs spiked to $107M or 16.9% but NPAs and classified assets fell considerably. We are adjusting our estimates and price target, but reiterate our Market Perform rating." Shares of FFCH closed Monday at $8.40, up 1.08% from Friday's close.