First Merchants (NASDAQ:FRME – Get Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect First Merchants to post earnings of $0.91 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
First Merchants (NASDAQ:FRME – Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). First Merchants had a net margin of 17.77% and a return on equity of 9.17%. The firm had revenue of $267.72 million during the quarter, compared to the consensus estimate of $156.35 million. During the same quarter in the previous year, the business posted $1.02 earnings per share. On average, analysts expect First Merchants to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
First Merchants Stock Up 1.9 %
Shares of NASDAQ:FRME opened at $39.40 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 11.35 and a beta of 1.02. The company has a 50 day moving average of $37.00 and a 200-day moving average of $35.34. First Merchants has a one year low of $25.70 and a one year high of $42.44.
First Merchants Dividend Announcement
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on FRME. Hovde Group began coverage on First Merchants in a research note on Monday, August 12th. They issued a “market perform” rating and a $38.00 target price for the company. Piper Sandler boosted their price objective on First Merchants from $41.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Stephens downgraded shares of First Merchants from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $45.00 to $38.00 in a report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $45.00 price target on shares of First Merchants in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.
Check Out Our Latest Research Report on FRME
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.
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