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First Financial (NYSE:SSB) Corp (THFF) stock has reached a new 52-week high, touching $53.00, just shy of its peak of $53.44. According to InvestingPro analysis, the company appears slightly undervalued, with a GOOD financial health rating and an attractive 3.92% dividend yield. This milestone reflects a significant uptrend in the stock’s valuation, with an impressive 43.66% return over the past year. Trading at a P/E ratio of 13.2, the surge to the 52-week high represents a culmination of sustained positive momentum for First Financial Corp, as the company continues to capitalize on strategic initiatives and a favorable economic environment to deliver value to its shareholders. Discover more detailed insights and metrics with InvestingPro.
In other recent news, First Financial Corp. has made significant strides in its financial strategies. Keefe, Bruyette & Woods maintained their Market Perform rating on the company, acknowledging the recent announcement of a quarterly dividend increase to $0.51 per share, a 13% hike from the previous quarter. This move is seen as an extension of First Financial’s strategy to enhance shareholder returns, with the firm highlighting the company’s shift to a quarterly dividend schedule from a semi-annual one at the end of 2023.
Simultaneously, Raymond (NSE:RYMD) James upgraded First Financial Corp. from Market Perform to Outperform, setting a new price target of $54.00. The firm cited the company’s liability-sensitive balance sheet, strategic expansions, and effective capital management as reasons for the optimistic outlook. First Financial’s net interest income could see a 5.9% rise from a -100 basis point shift in the yield curve, outperforming its peers, according to Raymond James.
These are recent developments that reflect First Financial’s commitment to growing its dividend and increasing the capital returned to shareholders. Both Keefe, Bruyette & Woods and Raymond James have expressed satisfaction with the company’s financial strategies and the perceived benefits to the shareholders.
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