TERRE HAUTE, Ind. - First Financial Corporation (NASDAQ:THFF), the holding company for First Financial Bank N.A., announced today that its board of directors has declared a quarterly dividend. Shareholders of record as of October 1, 2024, will receive a payment of 45 cents per share on October 15, 2024.
This financial institution operates in several states, including Indiana, Illinois, Kentucky, and Tennessee, providing a range of banking services. The declared dividend is part of the company's regular payout to its shareholders, which is a common practice among publicly traded companies to distribute a portion of earnings back to their investors.
Dividend declarations are closely watched by investors as they can provide insights into a company's financial health and its ability to generate cash flow. Regular dividends are often seen as a sign of a company's stability and a commitment to returning value to shareholders.
It is important to note that this information is based on a press release statement from First Financial Corporation. The company's contact for further information is Rodger A. McHargue, available at (812) 238-6000. As with all investments, shareholders are encouraged to consider the broader market conditions and perform their due diligence.
In other recent news, First Financial Corporation has adjusted its top executive contracts and renewed the employment agreement of its President and CEO, Norman D. Lowery. These agreements, effective from July 1, 2024, establish an initial employment term of 24 months for each executive. The company has also completed its acquisition of SimplyBank in a cash transaction valued at approximately $73.4 million, expanding its regional footprint into Tennessee.
The company also announced the appointment of Stephen P. Panagouleas as the new Senior Vice President and Chief Credit Officer. This strategic move in the company's executive structure is expected to fortify the bank's credit operations.
In related news, First Financial Corp. experienced a cut in share target by analysts from Keefe, Bruyette & Woods due to an earnings miss. The firm reduced its price target, maintaining a Market Perform rating. These are among the recent developments impacting the company.
InvestingPro Insights
First Financial Corporation (NASDAQ:THFF) has recently made headlines with its announcement of a quarterly dividend, reinforcing its long-standing practice of rewarding shareholders. In light of this news, key metrics and insights from InvestingPro help provide a deeper understanding of the company's financial position and performance.
InvestingPro data reveals that First Financial Corporation has a market capitalization of approximately $540.97 million, indicating its size within the financial sector. The company's P/E ratio stands at 10.66, suggesting that the stock may be reasonably valued when compared to industry peers. Notably, First Financial Corporation's shares are trading near their 52-week high, with the price at 97.23% of this peak, reflecting strong investor confidence and a potentially bullish outlook for the stock.
Moreover, the company has demonstrated a robust return to investors over the last three months, with a price total return of 29.03%. This performance is complemented by an impressive dividend yield of 3.96% as of the latest data, which is particularly attractive to income-focused investors. Additionally, First Financial Corporation has not only maintained but has raised its dividend for 5 consecutive years, showcasing a commitment to providing consistent shareholder returns.
InvestingPro Tips highlight two crucial aspects: First Financial Corporation has a record of maintaining dividend payments for an impressive 42 consecutive years, which speaks volumes about its financial resilience and dedication to shareholders. However, the company suffers from weak gross profit margins, which could be a point of concern for potential investors. It's also worth noting that there are additional InvestingPro Tips available for those interested in gaining further insights into First Financial Corporation's financial outlook.
For investors considering First Financial Corporation as part of their portfolio, these financial metrics and InvestingPro Tips serve as valuable tools for making informed decisions. With additional tips available on InvestingPro, investors can access a wealth of information to help navigate their investment strategies.
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