Mark Jason Blade Sr, a director at First Financial Corp (NASDAQ:THFF), recently acquired 463 shares of the company's stock. The purchase, which took place on November 4, was made at an average price of $42.6014 per share, amounting to a total investment of $19,724. Following this transaction, Blade's total direct holdings in the company increased to 2,864 shares.
In other recent news, First Financial Corporation has declared a 45-cent per share dividend, payable to shareholders of record as of October 1, 2024. The corporation has also finalized several significant executive contracts. The employment agreement of its President and CEO, Norman D. Lowery, has been renewed, extending his tenure for an initial term of 24 months. In addition, new contracts have been established for Rodger A. McHargue, Senior Vice President and Chief Financial Officer; Stephen P. Panagouleas, Senior Vice President and Chief Credit Officer; and Mark A. Franklin, Senior Vice President and Chief Lending Officer.
These agreements, effective from July 1, 2024, set the annual base salaries for the executives and include potential salary adjustments and participation in bonus and fringe benefit plans. The corporation has also recently completed its acquisition of SimplyBank, a move that expands its regional footprint into Tennessee.
However, analysts from Keefe, Bruyette & Woods have cut the share target for First Financial Corp following an earnings miss. Despite these recent developments, the corporation continues to demonstrate its commitment to stable leadership and returning value to shareholders.
InvestingPro Insights
Mark Jason Blade Sr's recent acquisition of First Financial Corp (NASDAQ:THFF) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock currently trades at a P/E ratio of 11.7, suggesting it may be undervalued compared to its peers. This valuation is further supported by a price-to-book ratio of 0.88, indicating that the stock is trading below its book value.
InvestingPro Tips reveal that First Financial Corp has maintained dividend payments for an impressive 42 consecutive years, demonstrating a strong commitment to shareholder returns. The company's current dividend yield stands at 4.18%, which may be attractive to income-focused investors like Blade. Additionally, analysts predict that the company will remain profitable this year, which could provide further support for the stock's value.
It's worth noting that First Financial Corp has shown resilience in its recent performance, with a one-year price total return of 26.24%. This positive momentum might have influenced Blade's decision to increase his stake in the company.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips for First Financial Corp, providing a deeper understanding of the company's financial health and market position.
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