Mark Blade Sr, a director at First Financial Corp (NASDAQ:THFF), recently acquired additional shares in the company. According to a recent SEC filing, Blade purchased six shares of First Financial Corp stock at a price of $43.03 per share, totaling an investment of $258. Following this transaction, Blade holds a total of 2,870 shares in the company.
In other recent news, First Financial Corporation has declared a quarterly dividend of 45 cents per share, set to be paid on October 15, 2024. In addition, the company has completed its acquisition of SimplyBank, marking a significant expansion of its regional footprint. On the executive front, First Financial Corporation has adjusted its top executive contracts and renewed the employment agreement of its President and CEO, Norman D. Lowery. The agreements, effective from July 1, 2024, establish an initial employment term of 24 months for each executive. Furthermore, the company has announced the appointment of Stephen P. Panagouleas as the new Senior Vice President and Chief Credit Officer. However, the company experienced a cut in share target by analysts from Keefe, Bruyette & Woods due to an earnings miss, maintaining a Market Perform rating. These are some of the recent developments that have taken place within First Financial Corporation.
InvestingPro Insights
Mark Blade Sr's recent purchase of First Financial Corp (NASDAQ:THFF) shares aligns with several positive indicators for the company. According to InvestingPro data, THFF's stock is currently trading at a P/E ratio of 10.59, which is relatively low compared to industry standards, suggesting potential undervaluation. This could explain why a director is increasing their stake in the company.
InvestingPro Tips highlight that First Financial Corp has maintained dividend payments for 42 consecutive years, demonstrating a strong commitment to shareholder returns. Additionally, the company has raised its dividend for 5 consecutive years, which may be attractive to income-focused investors. The current dividend yield stands at 4.18%, offering a substantial income stream for shareholders.
Despite these positive aspects, it's worth noting that THFF's revenue growth has been negative in the last twelve months, declining by 8.52%. This may be a factor to watch, as it could impact future profitability. Nevertheless, analysts predict that the company will remain profitable this year, which could provide some reassurance to investors.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights on First Financial Corp. The platform currently lists 6 additional tips that could provide valuable context for potential investors.
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