First Financial Corp/IN (THFF)
NASDAQFinancialsBanks - RegionalSnapshot 2026-09-09
$77.25-0.81%
Close 2026-09-09 · 1-day change
NASDAQFinancialsBanks - RegionalSnapshot 2026-09-09
Warn: Management is running behind on a stated commitment.
First Financial is growing earnings with a target EPS of $6.68 in 2026, up from $4.00 in 2024. The company completed the CedarStone acquisition to expand its market. Profitability is stable with a low PE of 11.33 and a dividend of $0.56 per share. Analysts expect modest revenue and EPS growth, supporting steady returns.
Earnings growth may stall if integration of CedarStone falters or if revenue declines continue. The market expects a slight revenue decline of -1.4%. Management has shown volatility, which could affect execution. A failure to meet the $6.68 EPS target would hurt confidence.
The price is about 15% below our fair value near $90, reflecting cautious optimism. The market expects about -1% revenue growth, while we see potential for EPS growth to $6.68 in 2026, indicating some upside if execution holds.
Breaks if: Acquisition integration delays or failures reported
Successfully integrate CedarStone Financial acquired on March 1, 2026, to expand loan and deposit base.
Management stated the completion of the CedarStone Financial acquisition in 2 quarters, Q1 and Q2 2026. The acquisition added $292 million in loans and $313 million in deposits. This milestone has been achieved and integrated into reported financials, indicating delivery on this growth priority.
“On March 1, 2026, First Financial Corporation completed the acquisition of CedarStone Financial, Inc. Loans acquired were $292 million, deposits $313 million.”
“Acquisition of CedarStone Financial completed March 1, 2026, with loans acquired $292 million and deposits $313 million.”
Breaks if: Dividend cut below $0.56 per share
Breaks if: EPS falls below $6.00 in 2026 fiscal year
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This is a multi-year view on a financial services company with a focus on growth through mergers and maintaining dividends. The current thesis state reflects a strong recent performance but acknowledges management volatility.
The market seems to have a neutral valuation stance on THFF, with expectations slightly below the average. The current pricing reflects a justified valuation, indicating that investors are not overly optimistic or pessimistic.
Fundamentals are likely to show continued strength, especially if management successfully completes the merger with First Illinois Corporation and maintains its dividend. However, there is a moderate risk due to the company's smaller size and past performance history.
The thesis hinges on the successful execution of the merger and the performance of key sector peers like HDB, IBN, and PNC. Any changes in guidance or performance from these companies could significantly impact THFF's trajectory.
In the next 1 to 3 years, THFF's performance will depend on effective management execution and sector dynamics. Not investment advice.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The latest earnings beat supports this improved outlook. There are no current threats impacting the thesis.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.