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First Financial Indiana
(NASDAQ:THFF)
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Rating:74Outperform
Price Target:
$92.00
â–²(18.69% Upside)
Action:Reiterated
Date:08/07/26
THFF scores well primarily due to solid profitability and strong recent cash generation, alongside bullish technical trend confirmation. The score is tempered by meaningfully higher leverage versus prior years (raising risk in a weaker credit/rate backdrop), while valuation (P/E ~11.28 and ~2.72% yield) and recent corporate actions provide additional support.
Positive Factors
Free Cash Flow Generation
Sizable and growing free cash flow that exceeds reported earnings provides durable internal funding for dividends, loan growth, and capital needs without immediate reliance on external debt. Over a 2–6 month horizon this cash conversion supports capital returns and operational flexibility.
Negative Factors
Rising Leverage
A marked increase in leverage materially reduces financial flexibility and raises vulnerability to higher funding costs or weaker credit conditions. In a 2–6 month horizon higher debt levels constrain the bank’s ability to absorb shocks and may force conservative lending or balance-sheet actions.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Generation
Sizable and growing free cash flow that exceeds reported earnings provides durable internal funding for dividends, loan growth, and capital needs without immediate reliance on external debt. Over a 2–6 month horizon this cash conversion supports capital returns and operational flexibility.
Read all positive factors
First Financial Indiana (THFF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$969.67M
Dividend Yield2.67%
Average Volume (3M)123.84K
Price to Earnings (P/E)11.5
Beta (1Y)0.86
Revenue Growth8.25%
EPS Growth36.33%
CountryUS
Employees946
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)7.14
Shares Outstanding11,891,896
10 Day Avg. Volume102,841
30 Day Avg. Volume123,845
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)1.10
Price to Sales (P/S)2.19
P/FCF Ratio8.29
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$84.00Price Target Upside8.37% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)7.63
Revenue Forecast (FY)$294.23M
First Financial Indiana Business Overview & Revenue Model
Company Description
First Financial Corporation operates as the bank holding company for First Financial Bank N.A. that provides various financial services for individuals and businesses in west-central Indiana, east-central Illinois, western Kentucky, central and ea...
How the Company Makes Money
THFF primarily makes money through its banking operations. The largest driver is net interest income: the bank earns interest and fees on its loan portfolio (e.g., commercial loans, real estate loans, and consumer loans) and on interest-earning se...
First Financial Indiana Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 331.15M | 326.44M | 307.51M | 271.10M | 230.02M | 194.28M |
| Gross Profit | 259.45M | 253.59M | 201.59M | 202.67M | 213.78M | 183.02M |
| EBITDA | 100.15M | 108.46M | 67.10M | 79.02M | 93.87M | 71.77M |
| Net Income | 84.76M | 79.21M | 47.27M | 60.67M | 71.11M | 52.99M |
Balance Sheet | ||||||
| Total Assets | 6.18B | 5.76B | 5.56B | 4.85B | 4.99B | 5.18B |
| Cash, Cash Equivalents and Short-Term Investments | 1.26B | 825.32M | 820.49M | 1.34B | 1.55B | 2.05B |
| Total Debt | 601.55M | 480.68M | 215.18M | 175.80M | 80.46M | 115.53M |
| Total Liabilities | 5.50B | 5.11B | 5.01B | 4.32B | 4.51B | 4.59B |
| Stockholders Equity | 675.78M | 650.87M | 549.04M | 527.98M | 475.29M | 582.58M |
Cash Flow | ||||||
| Free Cash Flow | 95.83M | 86.42M | 54.26M | 79.55M | 77.36M | 51.23M |
| Operating Cash Flow | 97.31M | 90.41M | 60.37M | 86.09M | 78.79M | 55.07M |
| Investing Cash Flow | -224.19M | -125.02M | -66.12M | -22.10M | -433.69M | -312.16M |
| Financing Cash Flow | 126.24M | 72.59M | 22.52M | -209.75M | -110.61M | 287.65M |
First Financial Indiana Technical Analysis
Positive
77.51
Price Trends
76.53
Positive
71.09
Positive
65.71
Positive
Market Momentum
1.72
Positive
64.72
Neutral
46.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For THFF, the sentiment is Positive. The current price of 77.51 is below the 20-day moving average (MA) of 79.75, above the 50-day MA of 76.53, and above the 200-day MA of 65.71, indicating a bullish trend. The MACD of 1.72 indicates Positive momentum. The RSI at 64.72 is Neutral, neither overbought nor oversold. The STOCH value of 46.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for THFF.
First Financial Indiana Risk Analysis
First Financial Indiana disclosed 46 risk factors in its most recent earnings report. First Financial Indiana reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First Financial Indiana Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $850.12M | 9.33 | 14.46% | 2.68% | -0.52% | 98.41% | |
77 Outperform | $968.82M | 12.95 | 8.02% | 2.45% | 20.29% | 19.48% | |
76 Outperform | $1.16B | 13.89 | 15.92% | 1.92% | 18.89% | 38.49% | |
75 Outperform | $989.66M | 11.25 | 12.62% | 3.08% | 12.80% | 65.27% | |
74 Outperform | $969.67M | 11.48 | 13.02% | 2.83% | 8.25% | 36.33% | |
72 Outperform | $932.93M | 15.16 | 7.21% | 1.25% | 28.35% | 14.41% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
THFF
First Financial Indiana
81.96
27.64
50.88%
CAC
Camden National
58.96
20.93
55.05%
MPB
Mid Penn Bancorp
38.34
10.68
38.61%
ORRF
Orrstown Financial Services
43.48
10.64
32.40%
FSBC
Five Star
47.10
16.45
53.65%
NBBK
NB Bancorp, Inc.
22.89
4.70
25.83%
First Financial Indiana Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
First Financial Indiana CEO Employment Agreement Renewed
Positive
Jun 30, 2026
On June 29, 2026, First Financial Corporation and First Financial Bank entered into a new employment agreement with President and Chief Executive Officer Norman D. Lowery, effective July 1, 2026, establishing a 24‑month initial term and sett...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
First Financial Indiana Updates Executive Employment Agreements
Positive
Jun 30, 2026
On June 29, 2026, First Financial Corporation and First Financial Bank approved new, substantially similar employment agreements for Senior Vice President and Chief Financial Officer Rodger A. McHargue, Senior Vice President and Chief Credit Offic...
Dividends
First Financial Indiana Declares Quarterly Cash Dividend
Positive
Jun 17, 2026
On June 17, 2026, First Financial Corporation announced that its board of directors declared a quarterly cash dividend of $0.56 per share. The dividend is scheduled to be paid on July 15, 2026, to shareholders of record as of the close of business...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.