NasdaqCM:FSFG

Stock Analysis Report

First Savings Financial Group

Executive Summary

First Savings Financial Group, Inc. operates as the holding company for First Savings Bank that provides various banking products and services to consumers and businesses in southern Indiana.


Snowflake Analysis

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has First Savings Financial Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FSFG has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.6%

FSFG

-1.2%

US Banks

-1.1%

US Market


1 Year Return

19.3%

FSFG

10.3%

US Banks

17.9%

US Market

Return vs Industry: FSFG exceeded the US Banks industry which returned 10.3% over the past year.

Return vs Market: FSFG exceeded the US Market which returned 17.9% over the past year.


Shareholder returns

FSFGIndustryMarket
7 Day-0.6%-1.2%-1.1%
30 Day-1.5%-0.3%1.4%
90 Day-6.1%-0.9%6.9%
1 Year20.6%19.3%13.5%10.3%20.3%17.9%
3 Year34.3%30.3%24.0%15.1%47.8%38.3%
5 Year145.6%131.1%73.8%54.1%71.9%53.0%

Price Volatility Vs. Market

How volatile is First Savings Financial Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Savings Financial Group undervalued compared to its fair value and its price relative to the market?

1.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FSFG ($63.31) is trading below our estimate of fair value ($64.32)

Significantly Below Fair Value: FSFG is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FSFG is good value based on its PE Ratio (8.8x) compared to the Banks industry average (12.6x).

PE vs Market: FSFG is good value based on its PE Ratio (8.8x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: FSFG is poor value based on its PEG Ratio (3.5x)


Price to Book Ratio

PB vs Industry: FSFG is overvalued based on its PB Ratio (1.2x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is First Savings Financial Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

2.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FSFG's forecast earnings growth (2.5% per year) is above the savings rate (1.7%).

Earnings vs Market: FSFG's earnings (2.5% per year) are forecast to grow slower than the US market (14.1% per year).

High Growth Earnings: FSFG's earnings are forecast to grow, but not significantly.

Revenue vs Market: FSFG's revenue is expected to decline over the next 3 years (-40.2% per year).

High Growth Revenue: FSFG's revenue is forecast to decline over the next 3 years (-40.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FSFG's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has First Savings Financial Group performed over the past 5 years?

20.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FSFG has a high level of non-cash earnings.

Growing Profit Margin: FSFG's current net profit margins (17.4%) are lower than last year (19.9%).


Past Earnings Growth Analysis

Earnings Trend: FSFG's earnings have grown significantly by 20.6% per year over the past 5 years.

Accelerating Growth: FSFG's earnings growth over the past year (60%) exceeds its 5-year average (20.6% per year).

Earnings vs Industry: FSFG earnings growth over the past year (60%) exceeded the Banks industry 12.2%.


Return on Equity

High ROE: FSFG's Return on Equity (14.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is First Savings Financial Group's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FSFG has a low level of unsold assets or inventory.

Debt Coverage by Assets: FSFG's debt is not covered by short term assets (assets are 0.6x debt).


Financial Institutions Analysis

Asset Level: FSFG's level of assets compared to its equity is moderate.

Allowance for Bad Loans: FSFG has a sufficient allowance for bad loans.

Low Risk Liabilities: FSFG's liabilities are made up of primarily low risk sources of funding.

Loan Level: FSFG has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FSFG's loans are broadly funded by customer deposits.

Level of Bad Loans: FSFG has an appropriate level of bad loans (0.64%)


Next Steps

Dividend

What is First Savings Financial Group's current dividend yield, its reliability and sustainability?

1.01%

Current Dividend Yield


Dividend Yield vs Market

company1.0%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Years1.0%

Current dividend yield vs market & industry

Notable Dividend: FSFG's dividend (1.01%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: FSFG's dividend (1.01%) is low compared to the top 25% of dividend payers in the US market (3.73%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FSFG has been paying a dividend for less than 10 years.

Growing Dividend: FSFG's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (8.9%), FSFG's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.6yrs

Average management tenure


CEO

Larry Myers (61yo)

12.1yrs

Tenure

US$689,605

Compensation

Mr. Larry W. Myers serves as the Chief Executive Officer and President of First Savings Financial Group, Inc. and First Savings Bank, F.S.B. (Clarksville, IN) (First Savings Bank). Mr. Myers served as the  ...


CEO Compensation Analysis

Compensation vs Market: Larry's total compensation ($USD689.61K) is above average for companies of similar size in the US market ($USD522.48K).

Compensation vs Earnings: Larry's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Larry Myers
President12.1yrsUS$689.61k5.76% $8.6m
Anthony Schoen
Executive VP11.1yrsUS$439.60k2.36% $3.5m
John Lawson
Corporate Secretary & Director12.1yrsUS$393.19k0.93% $1.4m
Jacqueline Journell
Chief Operating Officer0.08yrsno data0.50% $744.2k
Len Basham
Executive VP & Chief Information Officer0.08yrsno data0.22% $327.3k
Scott Carr
Chief Risk Officer0yrsno data0.055% $82.0k
Jonathan Handmaker
0yrsno datano data

5.6yrs

Average Tenure

51yo

Average Age

Experienced Management: FSFG's management team is seasoned and experienced (5.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Larry Myers
President12.1yrsUS$689.61k5.76% $8.6m
John Lawson
Corporate Secretary & Director12.1yrsUS$393.19k0.93% $1.4m
Steven Stemler
Independent Director1yrsUS$20.00k0.10% $153.8k
Samuel Eckart
Director10.4yrsUS$26.39k0.38% $567.6k
Douglas York
Independent Director12.1yrsUS$30.10k1.65% $2.5m
Pamela Bennett-Martin
Independent Director11.1yrsUS$25.06k0.34% $502.6k
L. Fordyce
Independent Director3.1yrsUS$24.40k0.55% $823.9k
Frank Czeschin
Independent Director10.4yrsUS$27.50k0.50% $743.7k
John Colin
Independent Chairman3yrsUS$28.91k0.11% $158.7k
Martin Padgett
Independent Director2.9yrsUS$27.46k0.084% $125.4k

10.4yrs

Average Tenure

59yo

Average Age

Experienced Board: FSFG's board of directors are seasoned and experienced ( 10.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FSFG insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.5%.


Top Shareholders

Company Information

First Savings Financial Group, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Savings Financial Group, Inc.
  • Ticker: FSFG
  • Exchange: NasdaqCM
  • Founded: 2008
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$148.561m
  • Shares outstanding: 2.35m
  • Website: https://www.fsbbank.net

Number of Employees


Location

  • First Savings Financial Group, Inc.
  • 501 East Lewis & Clark Parkway
  • Clarksville
  • Indiana
  • 47129
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FSFGNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDOct 2008

Biography

First Savings Financial Group, Inc. operates as the holding company for First Savings Bank that provides various banking products and services to consumers and businesses in southern Indiana. The company operates through three segments: Core Banking, SBA Lending, and Mortgage Banking. It accepts deposits, such as checking accounts, NOW and money market accounts, regular savings accounts, and time deposits. The company also provides loans, including one-to four-family residential real estate loans, multi-family real estate loans, commercial business loans, construction loans, and land and land development loans, as well as consumer loans comprising automobile loans, home equity lines of credit, unsecured loans, and loans secured by deposits. In addition, it is involved in investment activities; and the provision of reinsurance to other third-party insurance captives. As of December 2, 2019, the company operated 15 offices in the Indiana communities, such as Clarksville, Jeffersonville, Charlestown, Sellersburg, New Albany, Georgetown, Corydon, Lanesville, Elizabeth, English, Marengo, Salem, Odon, and Montgomery. First Savings Financial Group, Inc. was incorporated in 2008 and is headquartered in Clarksville, Indiana. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 01:48
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
Annual Earnings2019/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.