First Farmers Financial Corp (OTCMKTS:FFMR) Stock On Radar After Shareholder Letter

The announcement of cash dividends from a company can often have a positive effect on its stock and hence, it may be a good time for investors to consider taking a closer look at the First Farmers Financial Corp (OTCMKTS:FFMR) stock this morning. This past Friday the company had been in the news after it sent out a letter to its shareholders with regards to the same.

Trading Data

On Friday, FFMR stock moved up 0.02% to $60.00 with more than 1.04K shares, compared to volume of 326 shares. The stock moved within a range of $60.00 – 60.00 after opening trade at $60.00.

First Farmers Financial Corp. Shareholder Letter

The company announced on October 14 that its board of directors had provided its approval to declare cash dividends to the tune of $0.45 a share and that is a record in the history of First Farmers Financial. It reflected a boost of as much as 25% from the $0.36 a share dividend that had been paid out back in October last year.

The approval had been provided by the board back on September 20, 2022 and all shareholders on record as on September 30, 2022 were entitled to it. In the nine month period that had ended on September 30, 2022, First Farmers Financial had managed to generate record earnings of as much as $31.1 million and that worked out to earnings of $4.42 a share.

Traders Corner

FFMR stock is trading above the 20-Day and 50-Day Moving averages of $58.57 and $58.31 respectively. Moreover, the stock is trading above the 200-Day moving average of $53.