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In a recent transaction, Susan M. Jensen, a director at First Financial (NYSE:SSB) Corp (NASDAQ:THFF), purchased 33 shares of the company’s stock. The shares were acquired at a price of $49.421 each, totaling approximately $1,630. The $579 million market cap bank currently trades at an attractive P/E ratio of 12.2x, and according to InvestingPro analysis, the stock appears undervalued. Following this transaction, Jensen holds a total of 1,982 shares in the company. This purchase highlights Jensen’s continued investment in First Financial Corp , a state commercial bank based in Terre Haute, Indiana. The bank offers a compelling 4.15% dividend yield and has maintained dividend payments for 43 consecutive years. InvestingPro subscribers can access additional insights, including 5 more exclusive ProTips about THFF’s growth prospects.
In other recent news, First Financial Corp. has announced a significant increase in its quarterly dividend, raising it by 13% to $0.51 per share. This move is part of the company’s ongoing strategy to enhance shareholder returns, with the dividend set to be paid on January 15, 2025. Keefe, Bruyette & Woods has maintained its Market Perform rating for First Financial, with a price target of $52.00, recognizing the company’s commitment to growing its dividend as a positive financial strategy. Meanwhile, Raymond (NSE:RYMD) James upgraded First Financial to Outperform, setting a new price target of $54.00, citing the stock’s current valuation as a steep discount relative to its merits.
Raymond James highlighted First Financial’s liability-sensitive balance sheet and its potential to benefit in a declining interest rate environment. The company’s regulatory filings indicate a potential 5.9% rise in net interest income, which could outperform its peers. Additionally, First Financial has strengthened its long-term growth prospects through strategic expansions, including three acquisitions in the past five years and a revamped loan production office strategy. The bank’s effective capital management has been noted, with ongoing repurchase authorizations accounting for about 4.4% of outstanding shares. These developments reflect First Financial’s efforts to align its balance sheet growth with its peers and enhance shareholder value.
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