THFF
First Financial CorporationFinancial Services·Banks - Regional
$69.18
$823M market cap
Revenue
$148.5M
Free Cash Flow
$50.5M
Rev Growth
+0.0%
FCF Margin
34.0%
P/FCF
16.3x
EV/FCF
25.4x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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, t
2-Year Price History
$68.58+105.8%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 78.0 | 13.5 | 13.5 | 19.8 | 22.6 | 21.9 | -0.7 | 96.9 | 558.5 | 11.9 | 4.5% | 0.6x | -- |
| Act | 2025-Q4 | 70.6 | 27.0 | 27.0 | 21.5 | 29.8 | 28.6 | -1.2 | 825.3 | 480.7 | 11.9 | 12.4% | 2.4x | -- |
Valuation & Metrics
Market Stats
Price$69.18
Market Cap$823M
Enterprise Value$1.3B
P/S Ratio5.5x
P/FCF16.3x
EV/FCF25.4x
FCF Margin (TTM)34.0%
FCF Yield6.1%
Dividend Yield (TTM)3.1%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$148.5M
Net Income$41.3M
Free Cash Flow$50.5M
Revenue Growth (YoY)+0.0%
EBITDA Margin27.3%
Net Margin27.8%
FCF Margin34.0%
CapEx % of Revenue1.3%
SBC % of Revenue1.3%
ROIC8.5%
WC Change % Rev-0.1%
Interest Coverage1.3x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.3M
Days to Cover3.1
Change (vs Prior)+8.7%
Need at least 2 settlement dates for chart
Employees
Headcount937
Revenue / Employee$158,480
Gross Profit / Employee$133,493
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
42.4%(+11.5% YoY)
181 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
30.2%(+7.4% YoY)
11 filers
Vanguard, iShares, SPDR
Market makers
0.4%(+0.2% YoY)
6 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $94.7M | $41.59 | +$193K | −$6.0M | -0.2% | $5.69T |
| DIMENSIONAL FUND ADVISORS LPPassive | $45.0M | $35.19 | +$242K | −$1.1M | -0.4% | $480.92B |
| FIRST FINANCIAL CORP /IN/ | $40.5M | $45.49 | +$86K | +$3.0M | -0.2% | $255M |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $30.2M | $62.64 | +$29.9M | +$30.2M | — | $4.04T |
| STATE STREET CORPPassive | $29.4M | $40.13 | +$883K | +$2.1M | -0.2% | $2.89T |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $27.1M | $48.31 | −$4.2M | +$3.0M | +0.7% | $645.81B |
| LSV ASSET MANAGEMENT | $25.0M | $40.20 | −$363K | +$755K | +0.0% | $46.40B |
| AMERICAN CENTURY COMPANIES INC | $23.5M | $44.46 | +$2.0M | +$7.2M | +0.7% | $193.48B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $18.6M | $41.39 | −$1.8M | +$185K | +2.3% | $1.61T |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $17.7M | $62.64 | +$17.6M | +$17.7M | — | $1.91T |
| AQR CAPITAL MANAGEMENT LLC | $14.0M | $38.84 | −$771K | +$724K | -0.2% | $218.19B |
| JPMORGAN CHASE & CO | $11.2M | $42.79 | −$1.8M | −$401K | -0.2% | $1.47T |
| ACADIAN ASSET MANAGEMENT LLC | $10.9M | $40.83 | −$1.2M | −$1.6M | -0.5% | $70.48B |
| GOLDMAN SACHS GROUP INC | $10.3M | $45.24 | +$566K | +$3.8M | -0.2% | $760.93B |
| Allspring Global Investments Holdings, LLC | $8.5M | $55.28 | +$2.1M | +$7.8M | -0.7% | $59.61B |
| NORTHERN TRUST CORPPassive | $7.7M | $46.42 | +$183K | −$795K | -0.2% | $755.34B |
| RENAISSANCE TECHNOLOGIES LLC | $7.3M | $40.40 | +$595K | +$1.5M | +1.2% | $63.91B |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $7.0M | $36.43 | −$725K | −$1.1M | -0.1% | $31.89B |
| Nuveen, LLC | $6.5M | $46.74 | +$12K | −$2.3M | +0.0% | $368.63B |
| UBS Group AG | $6.1M | $46.00 | +$386K | +$675K | -0.3% | $562.11B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
-0.06%
avg per quarter
Holders (ex-self)
-0.06%
excl. this stock
Buyers (this Q)
-0.17%
105 buyers · $0.10B in
Sellers (this Q)
+0.21%
55 sellers · $0.02B out
alpha coverage: 91% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+11.8%
how holders react when this stock falls
On quiet Qs
-1.0%
−10% to +10% baseline
On rallies (+10%+)
-13.0%
how they react when this stock rises
Holders' portfolio flow this Q
+4.0%
inflows — adds are organic
Sellers' portfolio flow this Q
+6.5%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-3.6%
Holder mid (any stock)
-2.2%
Holder rally (any stock)
-3.1%
Biggest decreases this quarter
CHARLES SCHWAB INVESTMENT MANAGEMENT INC−$4.2Mα+0.7KENNEDY CAPITAL MANAGEMENT LLCexited−$2.4MGEODE CAPITAL MANAGEMENT, LLC−$1.8Mα+2.3JPMORGAN CHASE & CO−$1.8Mα-0.2ACADIAN ASSET MANAGEMENT LLC−$1.2Mα-0.5AQR CAPITAL MANAGEMENT LLC−$771Kα-0.2HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC−$725Kα-0.1JOHNSON INVESTMENT COUNSEL INCexited−$682KMILLENNIUM MANAGEMENT LLCexited−$504KCAPROCK Group, Inc.exited−$498K
New buyers this quarter
Top-5 holders · 39.8%
BlackRock, Inc.--
DIMENSIONAL FUND ADVISORS LP--
FIRST FINANCIAL CORP /IN/--
VANGUARD CAPITAL MANAGEMENT LLC--
STATE STREET CORP--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
FIRST FINANCIAL CORP /IN/640KCHARLES SCHWAB INVESTMENT MANAGEMENT INC428KLSV ASSET MANAGEMENT396KSTADIUM CAPITAL MANAGEMENT LLC—AMERICAN CENTURY COMPANIES INC371KFULLER & THALER ASSET MANAGEMENT, INC.—AMERIPRISE FINANCIAL INC23KAQR CAPITAL MANAGEMENT LLC221KRhino Investment Partners, Inc—JPMORGAN CHASE & CO178K
Analyst Coverage
Analyst Coverage
Analyst Ratings
1
3
Buy: 1Hold: 3Consensus: Hold
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$132K
4 txns · 2 insiders · 2,504 sh
Sells ($, 12mo)
$143K
1 txn · 1 insider · 2,209 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-03-02 | SELL | Franklin Mark Allen | officer: CHIEF LENDING OFFICER | 2,209 | $64.60 | $143K | $485K |
| 2025-12-04 | BUY | Jensen Susan M | director | 28 | $60.23 | $2K | $136K |
| 2025-10-13 | BUY | McDonald James O | director | 2,295 | $52.25 | $120K | $614K |
| 2025-06-10 | BUY | Jensen Susan M | director | 148 | $56.89 | $8K | $127K |
| 2025-06-02 | BUY | Jensen Susan M | director | 33 | $51.36 | $2K | $107K |
Order Flow (FINRA, ~3w lag)
7.2%retail-1.8pp
20.6%dark-0.4pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
First Financial Corporation: Mature Governance Framework with Minimal Disclosure Risk
Overall Risk
2/10
Fraud
1/10
Dilution
1/10
Insolvency
2/10
Earnings Overstated
2/10
Hidden Liabilities
2/10
Legal
1/10
Audit Warnings
1/10
Hidden Upside
1/10
Contextually Acceptable
10/10