Maxim Group analyst Michael Diana reiterated a Buy rating on First Savings Financial Group (FSFG) today and set a price target of $75. The company’s shares opened today at $50.52, close to its 52-week low of $45.36.
Diana said:
“F1Q19 EPS was $1.24 versus our estimate of $1.08 (we are the only analyst covering the company). We expected a lower NIM, due to interest expense from a full quarter of $20M of new subordinated debt. Excluding the new subordinated debt, the NIM was up 7bps, not flat, as we expected. In April, 2018, FSFG hired a team of mortgage banking professionals to originate and sell conforming mortgages. In F1Q19, the mortgage banking operations were close to breakeven, but we expect them to ramp up and make a contribution in FY19, as volumes increase while the fixed-cost infrastructure remains flat. We are maintaining our price target at $75. This equates to 12.5x our CY19 EPS estimate, which is inline with high-quality Small-Cap peers.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 5.7% and a 58.2% success rate. Diana covers the Financial sector, focusing on stocks such as Westamerica Bancorporation, Pennantpark Floating Rate, and Saratoga Investment Corp.
First Savings Financial Group has an analyst consensus of Moderate Buy, with a price target consensus of $75.
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First Savings Financial Group’s market cap is currently $117M and has a P/E ratio of 11.57. The company has a Price to Book ratio of 1.14.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FSFG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
First Savings Financial Group, Inc. operates as a savings and loans holding company for First Savings Bank FSB, a federally chartered savings bank. It operates as a community-oriented financial institution offering traditional financial services to consumers and businesses in its primary market area.
