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William Curtis Brighton, a director at First Financial (NYSE:SSB) Corp (NASDAQ:THFF), recently acquired 2,000 shares of the company’s stock in two separate transactions on March 12. Each transaction involved the purchase of 1,000 shares at a price of $48.994 per share, amounting to a total investment of $97,988. Following these acquisitions, Brighton’s total direct ownership in First Financial Corp increased to 24,000 shares.The insider purchase comes as First Financial, a $582 million market cap company, trades at an attractive P/E ratio of 12.3 and offers a 4.16% dividend yield. According to InvestingPro analysis, the company has maintained dividend payments for 43 consecutive years, demonstrating strong shareholder returns. The stock currently appears undervalued based on InvestingPro’s Fair Value model, with three analysts recently revising their earnings expectations upward for the upcoming period.
In other recent news, First Financial Corp. has made headlines with significant developments. Raymond (NSE:RYMD) James upgraded the company to an Outperform rating, raising the price target to $54.00, citing the company’s undervalued stock and strong balance sheet. Despite a modest 6.9% increase in stock performance year-to-date, the firm believes First Financial’s current valuation does not reflect its true potential. The company has been active in strategic expansions, completing three acquisitions in the past five years, which have positioned it in faster-growing urban areas in the Southeast. Additionally, First Financial’s management has revamped its loan production office strategy, doubling the number of offices since the pandemic to target higher growth markets.
Keefe, Bruyette & Woods maintained a Market Perform rating with a price target of $52.00, acknowledging the company’s recent dividend increase to $0.51 per share. This increase marks a 13% hike from the previous quarter, part of a broader strategy to enhance shareholder returns. The dividend policy shift from semi-annual to quarterly payments has resulted in a significant rise in the annual payout to $1.80 per share from $1.08. First Financial’s effective capital management is further evidenced by its ongoing share repurchase program, with approximately 520,000 shares remaining to be repurchased. These developments reflect the company’s commitment to improving shareholder value and its strategic positioning for future growth.
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