In a recent transaction, Mark Allen Franklin, the Chief Lending Officer of First Financial Corp (NASDAQ:THFF), has purchased 900 shares of the company's stock at an average price of $38.828 per share, totaling over $34,945. The transaction, dated May 20, 2024, was disclosed in a filing with the Securities and Exchange Commission.
This acquisition has increased Franklin's holdings in First Financial Corp to a total of 6,783 shares. The transaction reflects the executive's confidence in the company, as insiders buying shares in their own company is often seen as a positive sign by investors.
First Financial Corp, based in Indiana, operates as a state commercial bank and has a history dating back to its former name, Terre Haute First Corp. The company's business address is at One First Financial Plaza, Terre Haute, IN.
Investors and market watchers often look to insider transactions as an indicator of how the company's leadership perceives the financial health and future prospects of the business. Franklin's role as Chief Lending Officer gives him a unique perspective on the company's performance and potential, making his purchase noteworthy.
The details of the transaction were signed by Rodger A. McHargue, acting as Power of Attorney for Mark A. Franklin, indicating the official nature of the disclosure. This latest filing provides transparency for investors and maintains regulatory compliance as required for insider transactions.
InvestingPro Insights
Following the insider purchase by Mark Allen Franklin, First Financial Corp's (NASDAQ:THFF) stock activity and company performance metrics provide additional context for investors. According to InvestingPro data, First Financial Corp has a market capitalization of $444.56 million and a P/E ratio that stands at a modest 8.21, indicating a potentially undervalued stock compared to industry peers. The company's dividend yield is noteworthy at 4.6%, particularly compelling given that THFF has maintained dividend payments for an impressive 42 consecutive years, as noted in one of the InvestingPro Tips.
Despite a recent decline in revenue growth, down 6.75% over the last twelve months as of Q1 2024, the company has managed to remain profitable during this period. This may suggest a resilience in its business model, even in the face of challenging market conditions. This aligns with one of the InvestingPro Tips which highlights that analysts predict the company will be profitable this year.
Investors looking for additional insights can find more InvestingPro Tips for First Financial Corp, which include further analysis on earnings revisions and gross profit margins. For those interested in a deeper dive, there are 7 additional tips available on InvestingPro, which can be accessed with a subscription. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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