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Michael A. Carty, a director at First Financial (NYSE:SSB) Corp (NASDAQ:THFF), recently reported a series of stock purchases totaling $93,703. The transactions, disclosed in a recent SEC filing, occurred over several dates, with purchase prices ranging from $34.1974 to $48.4153 per share. The stock, currently trading at $46.44, appears undervalued according to InvestingPro analysis, with a notable 4.4% dividend yield and a 43-year history of consecutive dividend payments.
On November 22, 2021, Carty acquired 142 shares at $44.4408 each. This was followed by additional purchases, including 145 shares at $43.2588 on May 18, 2022, and 130 shares at $47.8315 on August 17, 2022. His buying spree continued with 128 shares at $48.4153 on November 17, 2022, and 140 shares at $44.2803 on February 17, 2023. The stock has shown resilience with a beta of 0.51, indicating lower volatility than the broader market.
Most notably, on May 1, 2023, Carty made four separate transactions, purchasing a total of 1,825 shares at prices ranging from $34.1974 to $34.406 per share. Following these transactions, Carty's total direct ownership of First Financial Corp stock increased to 2,783 shares. InvestingPro subscribers can access additional insights, including 5 more exclusive ProTips and comprehensive insider trading analysis.
In other recent news, First Financial Corp. has been the focus of considerable financial developments and analyst attention. The company recently announced an increase in its quarterly dividend to $0.51 per share, a 13% hike from the previous quarter, as confirmed by Keefe, Bruyette & Woods. This move is seen as a continuation of First Financial's strategy to enhance shareholder returns, shifting to a quarterly dividend schedule from a semi-annual one.
In addition, First Financial has completed three acquisitions in the past five years and doubled the number of loan production offices since the pandemic, contributing to its strategic expansion. The company also renewed the employment agreement of its President and CEO, Norman D. Lowery, and appointed Stephen P. Panagouleas as the new Senior Vice President and Chief Credit Officer.
Raymond (NS:RYMD) James recently upgraded First Financial Corp. from Market Perform to Outperform, citing the company's liability-sensitive balance sheet and potential for a 5.9% rise in net interest income. The firm also noted First Financial's effective capital management, including two repurchase authorizations for 5% of outstanding shares each since 2020.
These are among the recent developments impacting First Financial Corp., signaling a period of strategic growth and financial strengthening for the company.
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