First Farmers Financial Co. (OTCMKTS:FFMR) Sees Large Increase in Short Interest

First Farmers Financial Co. (OTCMKTS:FFMR) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 47 shares, an increase of 193.8% from the April 15th total of 16 shares. Based on an average daily trading volume, of 1,814 shares, the days-to-cover ratio is currently 0.0 days.

First Farmers Financial Price Performance

FFMR traded up $0.68 during trading on Thursday, hitting $66.83. 850 shares of the company traded hands, compared to its average volume of 2,886. The stock’s fifty day moving average is $65.87 and its 200 day moving average is $66.12. First Farmers Financial has a one year low of $64.10 and a one year high of $67.99.

First Farmers Financial announced that its board has approved a stock buyback plan on Tuesday, February 17th that allows the company to buyback $4.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

About First Farmers Financial

First Farmers Financial Corporation is a bank holding company based in Hamilton, Indiana, serving the financial needs of rural and suburban communities across Central Indiana and Northwest Ohio. It operates through its primary subsidiary, First Farmers Bank & Trust, which provides a range of community banking and trust services designed to support individuals, families, businesses, and agricultural enterprises.

The company’s core business activities include traditional deposit and lending services.