THFF

First Financial

Fundamental data last updated:April 13, 2026

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company profile

SECTOR

Financial Services

industry

Banks - Regional

Exchange

Nasdaq

County of HQ

United States

Next Earnings Date

04/28/26

Business Summary

THFF operates as a regional banking institution generating revenue primarily through net interest income on loans and investments, supplemented by fee-based services tied to traditional community banking. Its competitive moat is rooted in localized relationships, deposit gathering capabilities, and underwriting familiarity within its core markets. Stable deposits fund lending activities, allowing it to earn a spread between borrowing and lending rates, which drives operating margins. The durability of its cash flow depends on disciplined credit risk management, conservative capital allocation, and maintaining customer trust within its geographic footprint rather than scale-driven national dominance.

 


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VALUATION

P/E

10

Market Cap ($M USD)

$794

Forward P/E

9

PEG

1.5

PRICE TO SALES

3

PRICE TO BOOK

1.2

EV / EBITDA

-

5-Year Average P/E

Free Cash Flow Yield

DCF Value

Graham Number

Price to FCF

EV to FCF

Earnings Yield

FCF Yield

DIVIDEND

Yield

3.20%

Annual Payout

$2.14

Payout Ratio

31.30%

Consecutive Years of Dividend Growth

1

5-Year Dividend Growth Rate

15.30%

Financial Health & Profitability

Earnings Per Share

$6.68

Next Year EPS Growth Estimate

$7.46

Next Year Revenue Growth Estimate

3.80%

Return on Equity (ROE)

12.20%

FREE CASH FLOW

Operating Margin

40.80%

Debt-to-Equity

0.3

Piotroski F-Score

5

Altman Z-Score

0.4

Return on Invested Capital (ROIC)

19.70%

Current Ratio

-

Quick Ratio

Net Debt to EBITDA

Interest Coverage

Gross Profit margin

FCF PER SHARE

REVENUE PER SHARE

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Gainseekers Quantitative Analysis

Summary

At 10x earnings and 9x forward earnings, the market is clearly not pricing THFF as a growth story, and the 1.2x price-to-book reinforces that this is being valued as a slow, steady regional bank rather than a compounder. A PEG of 1.5 suggests growth is not dramatically underpriced, but it is not expensive either, especially with ROIC at 19.70%, which is materially strong for a regional bank. However, the Altman Z-Score of 0.4 is a serious red flag, signaling elevated balance sheet risk despite the modest valuation. This is a statistically cheap stock on earnings, but the distress signal embedded in the Z-score prevents it from qualifying as a clean deep-value opportunity. The market is discounting risk appropriately, not irrationally.

AI Exposure / Tech Reliance

As a regional bank in the Financial Services sector, THFF’s AI exposure is operational rather than transformative. Technology will primarily enhance underwriting efficiency, fraud detection, and cost controls rather than redefine revenue streams. Its resilience depends on disciplined capital allocation and digital cost management, not AI-driven disruption upside.

The Bull Case

A value-oriented or GARP investor could justify ownership based on capital efficiency and profitability metrics that exceed what the valuation implies. ROIC of 19.70% is exceptionally strong relative to a 10x P/E, suggesting the company generates meaningful returns on invested capital without requiring a premium multiple. Operating margins of 12.20% demonstrate steady core banking profitability, and a Piotroski F-Score of 5 indicates financial conditions are stable, not deteriorating. Institutional ownership at 71.50% suggests sophisticated capital sees underlying durability, and a forward P/E of 9 alongside estimated EPS next year of $6.68 implies earnings support for current pricing. If credit conditions remain manageable, this is a cash-generating regional bank trading at a conservative multiple with respectable internal returns.

The Bear Case

The red flags are not subtle. An Altman Z-Score of 0.4 indicates balance sheet vulnerability, and a Debt/Equity ratio of 40.80% adds leverage sensitivity in a sector where funding stress can escalate quickly. Short interest at 15.30% of float is elevated, signaling that a meaningful portion of the market is betting on downside or deterioration. A PEG of 1.5 implies growth is not strong enough to compensate for macro or credit risk, and Return on Equity of just 3.80% is underwhelming for a bank trading above book value. The combination of low ROE, leverage exposure, and measurable short pressure creates asymmetrical downside risk if asset quality weakens.

Market Sentiment & Smart Money

Short Interest %

2.00%

Analyst Consensus

2.33

Average Analyst Price Target

$71.50

Institutional Ownership %

83.10%

1-Year Beta

0.91

Insider Buying % (6 Mo)

5.00%%

Distance to 52-Week High

96.60%

Distance to 52-Week Low

159.00%

EARNINGS SURPRISE %

50-DAY SMA

200-DAY SMA

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.