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First Financial Indiana
(NASDAQ:THFF)
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Rating:68Neutral
Price Target:
$84.00
â–²(6.23% Upside)
Action:Reiterated
Date:09/18/26
The score is driven primarily by solid financial performance and attractive valuation (low P/E with a supported dividend). Offsetting these positives, technical indicators point to weaker near-term momentum, while higher leverage and M&A integration risk keep the overall rating in the middle range.
Positive Factors
Profitability and cash generation
Strong profitability combined with free cash flow above reported net income indicates effective earnings conversion and internal funding capacity. This supports reinvestment in lending, technology, and customer relationships while providing a durable foundation for dividends and balance-sheet management.
Negative Factors
Rising leverage
The substantial increase in debt relative to equity reduces financial flexibility compared with prior years. Higher leverage can make it harder to absorb credit or interest-rate stress and may constrain future lending growth, acquisitions, or other capital-allocation decisions.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability and cash generation
Strong profitability combined with free cash flow above reported net income indicates effective earnings conversion and internal funding capacity. This supports reinvestment in lending, technology, and customer relationships while providing a durable foundation for dividends and balance-sheet management.
Read all positive factors
First Financial Indiana (THFF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.22B
Dividend Yield2.84%
Average Volume (3M)98.99K
Price to Earnings (P/E)10.8
Beta (1Y)0.84
Revenue Growth8.25%
EPS Growth36.33%
CountryUS
Employees946
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)7.14
Shares Outstanding15,891,457
10 Day Avg. Volume112,392
30 Day Avg. Volume98,992
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
$87.00Price Target Upside10.03% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)7.77
Revenue Forecast (FY)$294.27M
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 makes money primarily through traditional banking income streams generated by its bank subsidiary. The largest revenue source is typically net interest income: the bank earns interest and fees on interest-earning assets (mainly commercial loa...
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
Negative
79.07
Price Trends
78.85
Negative
74.58
Positive
68.62
Positive
Market Momentum
-0.51
Positive
41.00
Neutral
50.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For THFF, the sentiment is Negative. The current price of 79.07 is above the 20-day moving average (MA) of 78.42, above the 50-day MA of 78.85, and above the 200-day MA of 68.62, indicating a neutral trend. The MACD of -0.51 indicates Positive momentum. The RSI at 41.00 is Neutral, neither overbought nor oversold. The STOCH value of 50.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $826.12M | 8.98 | 14.46% | 2.80% | -0.52% | 98.41% | |
74 Outperform | $933.60M | 11.83 | 8.02% | 2.55% | 20.29% | 19.48% | |
72 Outperform | $1.11B | 13.19 | 15.92% | 2.12% | 18.89% | 38.49% | |
72 Outperform | $928.03M | 15.01 | 7.21% | 1.24% | 28.35% | 14.41% | |
69 Neutral | $965.16M | 10.97 | 12.62% | 2.92% | 12.80% | 65.27% | |
68 Neutral | $1.22B | 10.80 | 13.02% | 2.84% | 8.25% | 36.33% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
THFF
First Financial Indiana
77.09
20.62
36.51%
CAC
Camden National
57.48
18.70
48.22%
MPB
Mid Penn Bancorp
36.80
6.33
20.77%
ORRF
Orrstown Financial Services
41.85
7.48
21.76%
FSBC
Five Star
44.71
12.52
38.90%
NBBK
NB Bancorp, Inc.
22.66
4.46
24.50%
First Financial Indiana Corporate Events
Business Operations and StrategyExecutive/Board Changes
First Financial Indiana Announces CFO Retirement and Successor
Positive
Sep 17, 2026
On September 17, 2026, First Financial Corporation announced that longtime Chief Financial Officer and Secretary/Treasurer Rodger A. McHargue will retire on December 31, 2026, concluding a tenure as CFO that began in 2010. During his time in the r...
Business Operations and StrategyDividends
First Financial Indiana Declares Quarterly Cash Dividend
Positive
Sep 17, 2026
On September 17, 2026, First Financial Corporation announced that its board of directors had declared a quarterly cash dividend of $0.56 per share. The dividend will be paid on October 15, 2026, to shareholders of record as of the close of busines...
Business Operations and StrategyFinancial Disclosures
First Financial Indiana Highlights Strength at Investor Conferences
Positive
Sep 4, 2026
On September 9, 2026, senior executives of First Financial Corporation, including CEO Norman D. Lowery, CFO Rodger A. McHargue and other finance and credit leaders, participated in Raymond James’ U.S. Bank and Banking on Tech conferences, pr...
Business Operations and StrategyM&A Transactions
First Financial Indiana Announces Merger with First Illinois
Positive
Aug 27, 2026
On August 27, 2026, First Financial Corporation and First Illinois Corporation announced a definitive merger agreement under which First Illinois will be folded into First Financial in a stock-and-cash deal valued at about $111.3 million. First Il...
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...
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.