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First Financial

Nasdaq:THFF
Snowflake Description

Flawless balance sheet, undervalued and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
THFF
Nasdaq
$482M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

First Financial Corporation, through its subsidiaries, provides various financial services. The last earnings update was 48 days ago. More info.


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THFF Share Price and Events
7 Day Returns
0.5%
NasdaqGS:THFF
0.3%
US Banks
1.4%
US Market
1 Year Returns
-15.3%
NasdaqGS:THFF
-6.8%
US Banks
4.9%
US Market
THFF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Financial (THFF) 0.5% 1.5% -7% -15.3% 10.1% 19.3%
US Banks 0.3% -0.2% 3.6% -6.8% 55.8% 40%
US Market 1.4% 3.8% 3.5% 4.9% 44.8% 40.1%
1 Year Return vs Industry and Market
  • THFF underperformed the Banks industry which returned -6.8% over the past year.
  • THFF underperformed the Market in United States of America which returned 4.9% over the past year.
Price Volatility
THFF
Industry
5yr Volatility vs Market

Value

 Is First Financial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Financial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Financial.

NasdaqGS:THFF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $41.29 * 8.5%
$3.53
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $41.29
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:THFF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.59 (1 + (1- 21%) (18.27%))
0.782
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqGS:THFF using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Financial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:THFF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.5% – 7.5%) * $41.29)
$0.43
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.43 / (7.5% - 2.73%)
$9.10
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $41.29 + $9.10
$50.39
NasdaqGS:THFF Discount to Share Price
Calculation Result
Value per share (USD) From above. $50.39
Current discount Discount to share price of $39.23
= -1 x ($39.23 - $50.39) / $50.39
22.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price First Financial is available for.
Intrinsic value
22%
Share price is $39.23 vs Future cash flow value of $50.39
Current Discount Checks
For First Financial to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • First Financial's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • First Financial's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Financial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Financial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:THFF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $3.86
NasdaqGS:THFF Share Price ** NasdaqGS (2019-06-25) in USD $39.23
United States of America Banks Industry PE Ratio Median Figure of 600 Publicly-Listed Banks Companies 12.59x
United States of America Market PE Ratio Median Figure of 3,095 Publicly-Listed Companies 17.73x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Financial.

NasdaqGS:THFF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:THFF Share Price ÷ EPS (both in USD)

= 39.23 ÷ 3.86

10.17x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Financial is good value based on earnings compared to the US Banks industry average.
  • First Financial is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Financial's expected growth come at a high price?
Raw Data
NasdaqGS:THFF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.17x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
11.6%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.33x
United States of America Market PEG Ratio Median Figure of 2,133 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

NasdaqGS:THFF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.17x ÷ 11.6%

0.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Financial is good value based on expected growth next year.
Price based on value of assets
What value do investors place on First Financial's assets?
Raw Data
NasdaqGS:THFF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $37.66
NasdaqGS:THFF Share Price * NasdaqGS (2019-06-25) in USD $39.23
United States of America Banks Industry PB Ratio Median Figure of 603 Publicly-Listed Banks Companies 1.18x
United States of America Market PB Ratio Median Figure of 5,255 Publicly-Listed Companies 1.79x
NasdaqGS:THFF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:THFF Share Price ÷ Book Value per Share (both in USD)

= 39.23 ÷ 37.66

1.04x

* Primary Listing of First Financial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Financial is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess First Financial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Financial has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is First Financial expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Financial expected to grow at an attractive rate?
  • First Financial's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Financial's earnings growth is positive but not above the United States of America market average.
  • First Financial's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:THFF Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:THFF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 11.6%
NasdaqGS:THFF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 15.5%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.8%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:THFF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:THFF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 199 55 2
2019-12-31 175 47 2
NasdaqGS:THFF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 151 63 47
2018-12-31 149 57 47
2018-09-30 147 56 38
2018-06-30 145 59 36
2018-03-31 137 49 29
2017-12-31 139 50 29
2017-09-30 138 50 35
2017-06-30 137 43 34
2017-03-31 137 39 34
2016-12-31 136 41 38
2016-09-30 136 35 37
2016-06-30 138 33 37

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Financial's earnings are expected to grow by 11.6% yearly, however this is not considered high growth (20% yearly).
  • First Financial's revenue is expected to grow by 15.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:THFF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from First Financial Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:THFF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 4.01 4.05 3.95 3.00
2019-12-31 3.59 3.62 3.54 3.00
NasdaqGS:THFF Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 3.86
2018-12-31 3.80
2018-09-30 3.11
2018-06-30 2.91
2018-03-31 2.35
2017-12-31 2.38
2017-09-30 2.85
2017-06-30 2.80
2017-03-31 2.79
2016-12-31 3.12
2016-09-30 2.99
2016-06-30 2.97

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if First Financial will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess First Financial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Financial has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has First Financial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Financial's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Financial's year on year earnings growth rate has been positive over the past 5 years.
  • First Financial's 1-year earnings growth exceeds its 5-year average (64.8% vs 4.4%)
  • First Financial's earnings growth has exceeded the US Banks industry average in the past year (64.8% vs 40.7%).
Earnings and Revenue History
First Financial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Financial Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:THFF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 150.51 47.31 64.46
2018-12-31 149.02 46.58 64.52
2018-09-30 147.10 38.14 65.26
2018-06-30 145.30 35.62 65.25
2018-03-31 136.64 28.72 64.00
2017-12-31 138.50 29.13 64.20
2017-09-30 137.95 34.86 65.02
2017-06-30 136.87 34.23 65.51
2017-03-31 137.08 34.11 66.37
2016-12-31 135.78 38.41 64.26
2016-09-30 136.24 37.18 68.82
2016-06-30 138.33 37.42 70.73
2016-03-31 139.05 36.11 72.55
2015-12-31 138.99 30.20 74.08
2015-09-30 140.46 32.26 73.04
2015-06-30 140.88 32.14 72.35
2015-03-31 142.86 33.70 71.44
2014-12-31 143.55 33.77 70.42
2014-09-30 145.16 33.51 70.12
2014-06-30 146.21 33.71 69.36
2014-03-31 142.12 31.67 68.61
2013-12-31 139.86 31.53 67.55
2013-09-30 138.21 31.18 67.50
2013-06-30 135.81 30.80 67.00
2013-03-31 139.00 33.06 66.95
2012-12-31 139.69 32.81 67.45
2012-09-30 134.64 34.40 63.52
2012-06-30 132.56 36.12 60.75

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Financial used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First Financial improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Financial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Financial has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Financial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Financial Company Filings, last reported 2 months ago.

NasdaqGS:THFF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 462.80 81.65 56.63
2018-12-31 442.70 69.66 61.59
2018-09-30 427.77 93.68 57.62
2018-06-30 419.70 33.99 50.08
2018-03-31 414.90 29.08 42.66
2017-12-31 413.57 57.69 61.61
2017-09-30 443.56 23.51 70.40
2017-06-30 434.45 52.01 55.38
2017-03-31 426.81 35.95 55.52
2016-12-31 414.40 81.12 69.96
2016-09-30 422.37 41.50 111.90
2016-06-30 413.22 73.08 60.94
2016-03-31 411.91 43.37 72.57
2015-12-31 410.32 46.51 87.01
2015-09-30 408.59 36.59 63.28
2015-06-30 399.06 95.56 62.61
2015-03-31 409.03 41.27 101.18
2014-12-31 394.21 60.90 75.60
2014-09-30 403.87 146.99 111.98
2014-06-30 405.75 136.56 94.14
2014-03-31 399.33 73.92 93.78
2013-12-31 386.20 117.88 63.81
2013-09-30 375.08 86.29 84.32
2013-06-30 368.40 238.73 83.94
2013-03-31 378.38 154.56 132.78
2012-12-31 372.12 160.26 98.83
2012-09-30 368.76 169.86 119.41
2012-06-30 358.29 193.20 112.14
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Financial has an acceptable proportion of non-loan assets held.
  • First Financial's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Financial are broadly funded by customer deposits.
  • First Financial's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • First Financial has a sufficient allowance for bad loans.
  • First Financial has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Financial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Financial has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.65%
Current annual income from First Financial dividends. Estimated to be 3.09% next year.
If you bought $2,000 of First Financial shares you are expected to receive $53 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • First Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:THFF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 479 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2012 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:THFF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.16 3.00
2019-12-31 1.26 3.00
NasdaqGS:THFF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-22 1.040 2.680
2018-11-26 1.020 2.424
2018-11-07 1.020 2.171
2018-10-23 1.020 2.217
2018-08-08 1.020 2.014
2018-07-24 1.020 2.026
2017-10-20 1.020 2.258
2017-05-17 1.000 2.167
2016-11-16 1.000 2.081
2016-11-04 1.000 2.378
2016-10-25 1.000 2.498
2016-05-18 1.000 2.585
2015-11-18 0.980 2.891
2015-11-05 0.980 2.720
2015-10-28 0.980 2.804
2015-05-20 0.980 2.896
2015-03-06 0.980 2.829
2015-02-03 0.980 2.863
2014-11-05 0.980 2.876
2014-10-30 0.980 2.856
2014-05-20 0.980 3.069
2014-03-14 0.960 2.954
2013-11-06 0.960 2.796
2013-10-29 0.960 2.781
2013-05-22 0.960 3.020
2013-03-15 0.960 3.134
2012-11-09 0.940 3.137
2012-10-31 0.940 3.173
2012-05-16 0.940 3.147
2011-11-16 0.940 2.907
2011-11-09 0.940 2.818
2011-10-20 0.940 2.880
2011-05-18 0.940 3.064
2010-11-17 0.920 2.855
2010-11-04 0.920 2.928
2010-10-22 0.920 3.078
2010-08-06 0.920 3.177
2010-07-22 0.920 3.227
2009-12-16 0.900 3.190
2009-11-06 0.900 3.118
2009-10-27 0.900 3.237

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Financial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess First Financial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Financial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Financial has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of First Financial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Norm Lowery
COMPENSATION $1,923,279
AGE 72
TENURE AS CEO 15.4 years
CEO Bio

Mr. Norman L. Lowery, also known as Norm, has been the Vice Chairman, Chief Executive Officer and President of First Financial Corporation (“Corporation”) since 1996, 2004 and 2013 respectively. Mr. Lowery has been the Vice Chairman, President and Chief Executive Officer of First Financial Bank N A since 1996. He has been the Director of Corporation since 1989. Prior to joining the Corporation, Mr. Lowery was a partner in the law firm of Wright, Shagley & Lowery, P.C., where he practiced for 19 years. Mr. Lowery serves on the boards of Lynch Coal Operators Reciprocal Corporation, Princeton Mining Company, Inc. and Deep Vein Coal Company, Inc. He is an attorney and a member of the national, state and local bar associations, the national and state trial lawyer associations and the Indiana and American Bankers Association. Mr. Lowery is a Member of the Terre Haute Economic Development Corporation, a Past President and Board Member of the Terre Haute Chamber of Commerce, a Past Chairman and Board Member of the Wabash Valley Community Foundation and Past President, Board Member and Past Campaign Chairman of the United Way of the Wabash Valley. Mr. Lowery serves as a Board Secretary and Member of Board of Trustees at Indiana State University. Mr. Lowery holds a B.S. degree in Political Science from Indiana State University and a Doctor of Jurisprudence degree from Indiana University.

CEO Compensation
  • Norm's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Norm's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Financial management team in years:

9.3
Average Tenure
57
Average Age
  • The average tenure for the First Financial management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Norm Lowery

TITLE
Vice Chairman
COMPENSATION
$2M
AGE
72
TENURE
15.4 yrs

Rodger McHargue

TITLE
Senior VP
COMPENSATION
$627K
AGE
56
TENURE
9.3 yrs

Norman Lowery

TITLE
Senior VP & COO
COMPENSATION
$650K
AGE
50
TENURE
9.3 yrs

Steve Holliday

TITLE
Senior VP & Chief Credit Officer
COMPENSATION
$460K
AGE
57
TENURE
7.4 yrs

Karen Stinson-Milienu

TITLE
Chief Branch Banking Officer
COMPENSATION
$414K
AGE
57
TENURE
8.4 yrs

Terry Tevlin

TITLE
Vice President of Marketing
AGE
64
Board of Directors Tenure

Average tenure and age of the First Financial board of directors in years:

19.4
Average Tenure
67
Average Age
  • The average tenure for the First Financial board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

B. Cox

TITLE
Chairman of the Board
COMPENSATION
$85K
AGE
72
TENURE
6.4 yrs

Norm Lowery

TITLE
Vice Chairman
COMPENSATION
$2M
AGE
72
TENURE
23.4 yrs

Thomas Dinkel

TITLE
Director
COMPENSATION
$81K
AGE
67
TENURE
30.4 yrs

William Brighton

TITLE
Director
COMPENSATION
$83K
AGE
64
TENURE
15.4 yrs

Ronald Rich

TITLE
Lead Independent Director
COMPENSATION
$84K
AGE
79

William Voges

TITLE
Director
COMPENSATION
$82K
AGE
63
TENURE
10.7 yrs

Greg Gibson

TITLE
Director
COMPENSATION
$78K
AGE
55
TENURE
25.4 yrs

Tony George

TITLE
Director
COMPENSATION
$87K
AGE
58
TENURE
32.4 yrs

William Krieble

TITLE
Director
COMPENSATION
$84K
AGE
70
TENURE
10.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by First Financial individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
03. Jun 19 Buy William Krieble Individual 29. May 19 31. May 19 228 $38.10 $8,662
30. May 19 Buy William Brighton Individual 28. May 19 28. May 19 400 $38.48 $15,392
13. Feb 19 Buy Thomas Dinkel Individual 06. Feb 19 06. Feb 19 550 $42.54 $23,396
X
Management checks
We assess First Financial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Financial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Read This Before You Buy First Financial Corporation (NASDAQ:THFF) Because Of Its P/E Ratio

Check out our latest analysis for First Financial How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for First Financial: P/E of 10.06 = $38.8 ÷ $3.86 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? … NasdaqGS:THFF Price Estimation Relative to Market, June 9th 2019 Its relatively low P/E ratio indicates that First Financial shareholders think it will struggle to do as well as other companies in its industry classification.

Simply Wall St -

Is First Financial Corporation's (NASDAQ:THFF) CEO Overpaid Relative To Its Peers?

Norm Lowery became the CEO of First Financial Corporation (NASDAQ:THFF) in 2004. … Check out our latest analysis for First Financial How Does Norm Lowery's Compensation Compare With Similar Sized Companies? … Our data indicates that First Financial Corporation is worth US$475m, and total annual CEO compensation is US$1.9m.

Simply Wall St -

First Financial Corporation's (NASDAQ:THFF) 2.5% Dividend Yield Looks Pretty Interesting

Dividend Growth Potential Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend. … Earnings per share have been growing at a good rate, and the company is paying less than half its earnings as dividends. … Next, growing earnings per share and steady dividend payments is a great combination.

Simply Wall St -

Why First Financial Corporation (NASDAQ:THFF) Could Be Worth Watching

First Financial Corporation (NASDAQ:THFF), operating in the financial services industry based in United States,. … But is this actually reflective of the share value of the? … Let’s take a look at First Financial’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Have Insiders Been Selling First Financial Corporation (NASDAQ:THFF) Shares?

First Financial Insider Transactions Over The Last Year. … The Senior VP & COO, Norman Lowery, made the biggest insider sale in the last 12 months. … Norman Lowery was the only individual insider to sell shares in the last twelve months

Simply Wall St -

How Many First Financial Corporation (NASDAQ:THFF) Shares Do Institutions Own?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … First Financial is not a large company by global standards. … institutional investors have bought into the company.

Simply Wall St -

Does The First Financial Corporation (NASDAQ:THFF) Share Price Tend To Follow The Market?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

Three Key Risks For First Financial Corporation (NASDAQ:THFF) You Should Know

As a small-cap bank with a market capitalisation of US$538m, First Financial Corporation’s (NASDAQ:THFF) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting First Financial’s bottom line. … NasdaqGS:THFF Historical Debt, March 13th 2019

Simply Wall St -

Does First Financial Corporation's (NASDAQ:THFF) P/E Ratio Signal A Buying Opportunity?

To keep it practical, we'll show how First Financial Corporation's (NASDAQ:THFF) P/E ratio could help you assess the value on offer. … First Financial has a price to earnings ratio of 11.55, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Should You Be Concerned About First Financial Corporation’s (NASDAQ:THFF) Liquidity?

As a small-cap bank stock with a market capitalisation of US$523m, First Financial Corporation’s (NASDAQ:THFF) risk and profitability are largely determined by the underlying economic growth of the US regions in which it operates. … These reforms target banking regulations and intends to enhance financial institutions’ ability to absorb shocks resulting from economic stress which could expose banks like First Financial to vulnerabilities. … Unpredictable macro events such as political instability could weaken its financial position which is why it is important to understand how well the bank manages its risk levels.

Simply Wall St -

Company Info

Description

First Financial Corporation, through its subsidiaries, provides various financial services. It offers non-interest-bearing demand, interest-bearing demand, savings, time, and other time deposits. The company also provides commercial loans primarily to expand a business or finance asset purchases; residential real estate and residential real estate construction loans; and home equity loans and lines, secured loans, and cash/CD secured and unsecured loans. In addition, it offers lease financing, trust account, depositor, and insurance services. The company operates 66 branches in west-central Indiana and east-central Illinois. It also rents an office building. First Financial Corporation was founded in 1984 and is headquartered in Terre Haute, Indiana.

Details
Name: First Financial Corporation
THFF
Exchange: NasdaqGS
Founded: 1984
$482,145,016
12,290,212
Website: http://www.first-online.com
Address: First Financial Corporation
One First Financial Plaza,
Terre Haute,
Indiana, 47807,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS THFF Common Stock Nasdaq Global Select US USD 31. Jan 1991
Number of employees
Current staff
Staff numbers
816
First Financial employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/25 23:37
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/04/29
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.