Stock Buyback Program Declared by First Farmers Financial (OTCMKTS:FFMR) Board

First Farmers Financial (OTCMKTS:FFMR) declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 15th, RTT News reports. The company plans to repurchase $4.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

First Farmers Financial Price Performance

FFMR opened at $66.95 on Friday. The business has a 50 day moving average price of $66.65 and a two-hundred day moving average price of $66.12. First Farmers Financial has a 52 week low of $64.10 and a 52 week high of $69.99.

First Farmers Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.96 dividend on an annualized basis and a yield of 2.93%.

First Farmers Financial Company Profile

First Farmers Financial Corporation operates as the financial holding company for First Farmers Bank & Trust that provides banking products and services to individuals, families, and businesses. The company offers checking and savings accounts, health savings accounts, youth accounts, business accounts, deposit and government accounts, certificates of deposit, and individual retirement accounts, as well as account management services; and mortgages and construction loans, first time home buyers loan, home equity loans, auto loans, collateral loans, and debit and credit cards.