First Merchants (FRME) Projected to Post Quarterly Earnings on Thursday

First Merchants (NASDAQ:FRMEGet Free Report) is expected to release its earnings data before the market opens on Thursday, January 30th. Analysts expect First Merchants to post earnings of $0.90 per share and revenue of $167,840.00 billion for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

First Merchants Stock Up 2.1 %

Shares of FRME stock opened at $41.19 on Tuesday. The stock has a market cap of $2.42 billion, a P/E ratio of 13.59 and a beta of 1.06. The company’s fifty day simple moving average is $41.48 and its two-hundred day simple moving average is $39.18. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. First Merchants has a 52 week low of $30.55 and a 52 week high of $46.13.

First Merchants Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, December 6th. First Merchants’s payout ratio is 46.20%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FRME. Keefe, Bruyette & Woods lifted their target price on First Merchants from $43.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler decreased their price objective on First Merchants from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Merchants has an average rating of “Moderate Buy” and a consensus target price of $42.60.

Get Our Latest Analysis on FRME

Insider Buying and Selling

In other First Merchants news, President Michael J. Stewart sold 7,248 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $43.73, for a total value of $316,955.04. Following the completion of the sale, the president now owns 92,664 shares of the company’s stock, valued at approximately $4,052,196.72. This trade represents a 7.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.32% of the stock is currently owned by company insiders.

About First Merchants

(Get Free Report)

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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Earnings History for First Merchants (NASDAQ:FRME)

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