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 share repurchase program on Tuesday, April 15th, RTT News reports. The company plans to buyback $4.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

First Farmers Financial Stock Performance

FFMR stock opened at $66.95 on Friday. First Farmers Financial has a 12 month low of $64.10 and a 12 month high of $69.99. The company’s 50 day simple moving average is $66.65 and its 200-day simple moving average is $66.12.

First Farmers Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Monday, March 31st.

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.