First Merchants Co. (NASDAQ:FRMEP) Short Interest Up 150.0% in September

First Merchants Co. (NASDAQ:FRMEP) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 500 shares, an increase of 150.0% from the August 31st total of 200 shares. Based on an average daily volume of 1,000 shares, the short-interest ratio is presently 0.5 days.

First Merchants Price Performance

Shares of FRMEP stock traded down $0.02 during trading hours on Thursday, reaching $25.50. The company had a trading volume of 222 shares, compared to its average volume of 1,276. First Merchants has a 12-month low of $22.79 and a 12-month high of $26.43. The stock has a fifty day moving average of $25.28 and a 200-day moving average of $25.26.

First Merchants Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Tuesday, July 30th were issued a $0.4688 dividend. This represents a $1.88 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend was Tuesday, July 30th.

About First Merchants

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans.