First Farmers Financial (OTCMKTS:FFMR) to Repurchase $4.00 million in Outstanding Shares

First Farmers Financial (OTCMKTS:FFMR) declared that its board has approved a share repurchase plan on Tuesday, April 15th, RTT News reports. The company plans to buyback $4.00 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

First Farmers Financial Price Performance

FFMR stock opened at $66.95 on Wednesday. The firm has a fifty day moving average price of $66.61 and a 200 day moving average price of $66.10. First Farmers Financial has a fifty-two week low of $64.10 and a fifty-two week high of $69.99.

First Farmers Financial Dividend Announcement

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

About First Farmers Financial

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.