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FFMR

First Farmers Financial OTCPK:FFMR Stock Report

Last Price

US$57.50

Market Cap

US$403.8m

7D

0%

1Y

22.3%

Updated

04 Oct, 2022

Data

Company Financials
FFMR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance5/6
Financial Health4/6
Dividends2/6

FFMR Stock Overview

First Farmers Financial Corporation operates as the financial holding company for First Farmers Bank & Trust that provides banking products and services to individuals, families, and businesses.

First Farmers Financial Competitors

Price History & Performance

Summary of all time highs, changes and price drops for First Farmers Financial
Historical stock prices
Current Share PriceUS$57.50
52 Week HighUS$60.00
52 Week LowUS$47.75
Beta0.016
1 Month Change-3.36%
3 Month Change-4.17%
1 Year Change22.34%
3 Year Change36.87%
5 Year Change68.87%
Change since IPO76.92%

Recent News & Updates

Shareholder Returns

FFMRUS BanksUS Market
7D0%6.3%4.4%
1Y22.3%-21.8%-18.2%

Return vs Industry: FFMR exceeded the US Banks industry which returned -24.1% over the past year.

Return vs Market: FFMR exceeded the US Market which returned -20% over the past year.

Price Volatility

Is FFMR's price volatile compared to industry and market?
FFMR volatility
FFMR Average Weekly Movementn/a
Banks Industry Average Movement3.5%
Market Average Movement6.9%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: Insufficient data to determine FFMR's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine FFMR's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
1885n/aGene Mileshttps://www.ffbt.com

First Farmers Financial Corporation operates as the financial holding company for First Farmers Bank & Trust that provides banking products and services to individuals, families, and businesses. The company offers checking and savings accounts, health savings accounts, youth accounts, business accounts, deposit and government accounts, certificates of deposit, and individual retirement accounts, as well as account management services; and mortgages and construction loans, first time home buyers loan, home equity loans, auto loans, collateral loans, and debit and credit cards. It also provides lines of credit, term loans, real estate financing and construction loan, equipment financing, enhancement loans, letters of credit, inventory loans, livestock lending, and vehicle financing, as well as leasing, and mobile and online banking services.

First Farmers Financial Fundamentals Summary

How do First Farmers Financial's earnings and revenue compare to its market cap?
FFMR fundamental statistics
Market CapUS$403.80m
Earnings (TTM)US$36.06m
Revenue (TTM)US$93.76m

11.2x

P/E Ratio

1.7x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FFMR income statement (TTM)
RevenueUS$93.76m
Cost of RevenueUS$0
Gross ProfitUS$93.76m
Other ExpensesUS$57.70m
EarningsUS$36.06m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)5.14
Gross Margin100.00%
Net Profit Margin38.46%
Debt/Equity Ratio33.1%

How did FFMR perform over the long term?

See historical performance and comparison

Dividends

3.1%

Current Dividend Yield

27%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is FFMR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FFMR?

Other financial metrics that can be useful for relative valuation.

FFMR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does FFMR's PE Ratio compare to its peers?

FFMR PE Ratio vs Peers
The above table shows the PE ratio for FFMR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.2x
BHB Bar Harbor Bankshares
10.5x12.3%US$424.1m
CARE Carter Bankshares
11.3x13.8%US$413.4m
FLIC First of Long Island
9.2x-1.2%US$415.5m
DBIN Dacotah Banks
10xn/aUS$391.5m
FFMR First Farmers Financial
11.2xn/aUS$403.8m

Price-To-Earnings vs Peers: FFMR is expensive based on its Price-To-Earnings Ratio (11.2x) compared to the peer average (10.2x).


Price to Earnings Ratio vs Industry

How does FFMR's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: FFMR is expensive based on its Price-To-Earnings Ratio (11.2x) compared to the US Banks industry average (9.5x)


Price to Earnings Ratio vs Fair Ratio

What is FFMR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FFMR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FFMR's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of FFMR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FFMR ($57.5) is trading below our estimate of fair value ($107.6)

Significantly Below Fair Value: FFMR is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is First Farmers Financial forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


10.6%

Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as First Farmers Financial has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Check out First Farmers Financial's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access First Farmers Financial's filings and announcements here.

Past Performance

How has First Farmers Financial performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


14.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FFMR has high quality earnings.

Growing Profit Margin: FFMR's current net profit margins (38.5%) are higher than last year (35.7%).


Past Earnings Growth Analysis

Earnings Trend: FFMR's earnings have grown by 14.6% per year over the past 5 years.

Accelerating Growth: FFMR's earnings growth over the past year (18.5%) exceeds its 5-year average (14.6% per year).

Earnings vs Industry: FFMR earnings growth over the past year (18.5%) exceeded the Banks industry 8.5%.


Return on Equity

High ROE: FFMR's Return on Equity (14.8%) is considered low.


Discover strong past performing companies

Financial Health

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

Financial Health Score

4/6

Financial Health Score 4/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FFMR's Assets to Equity ratio (10x) is moderate.

Allowance for Bad Loans: Insufficient data to determine if FFMR has a sufficient allowance for bad loans.

Low Risk Liabilities: 95% of FFMR's liabilities are made up of primarily low risk sources of funding.

Loan Level: FFMR has an appropriate level of Loans to Assets ratio (69%).

Low Risk Deposits: FFMR's Loans to Deposits ratio (81%) is appropriate.

Level of Bad Loans: Insufficient data to determine if FFMR has an appropriate level of bad loans.


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Dividend

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

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.13%

Current Dividend Yield

Dividend Yield vs Market

First Farmers Financial Dividend Yield vs Market
How does First Farmers Financial dividend yield compare to the market?
SegmentDividend Yield
Company (First Farmers Financial)3.1%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.5%
Industry Average (Banks)3.2%
Analyst forecast in 3 Years (First Farmers Financial)n/a

Notable Dividend: FFMR's dividend (3.13%) is higher than the bottom 25% of dividend payers in the US market (1.64%).

High Dividend: FFMR's dividend (3.13%) is low compared to the top 25% of dividend payers in the US market (4.63%).


Stability and Growth of Payments

Stable Dividend: FFMR has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: FFMR's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (27.2%), FFMR's dividend payments are well covered by earnings.


Future Payout to Shareholders

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


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Management

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

7.8yrs

Average board tenure


CEO

Gene Miles (69 yo)

27.75yrs

Tenure

Mr. Gene E. Miles serves as Director at First Farmers Bank & Trust Co. (Formerly known as First Farmers Bank & Trust) and served as its Chief Executive Officer until March 31, 2021 and served as its Presid...


Board Members

Experienced Board: FFMR's board of directors are considered experienced (7.8 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of FFMR?
Owner TypeNumber of SharesOwnership Percentage

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Company Information

First Farmers Financial Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: First Farmers Financial Corporation
  • Ticker: FFMR
  • Exchange: OTCPK
  • Founded: 1885
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$403.805m
  • Shares outstanding: 7.02m
  • Website: https://www.ffbt.com

Number of Employees


Location

  • First Farmers Financial Corporation
  • 123 North Jefferson Street
  • Converse
  • Indiana
  • 46919
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FFMROTCPK (Pink Sheets LLC)YesCommon StockUSUSDOct 2013

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/04 00:00
End of Day Share Price2022/09/23 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.