Credit Suisse AG lowered its stake in shares of First Merchants Corporation (NASDAQ:FRME) by 33.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,673 shares of the bank’s stock after selling 21,269 shares during the period. Credit Suisse AG’s holdings in First Merchants Corporation were worth $1,639,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FRME. Teachers Advisors LLC raised its position in First Merchants Corporation by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 91,705 shares of the bank’s stock valued at $3,453,000 after buying an additional 8,514 shares in the last quarter. Nationwide Fund Advisors raised its position in First Merchants Corporation by 43.5% in the first quarter. Nationwide Fund Advisors now owns 177,858 shares of the bank’s stock valued at $6,993,000 after buying an additional 53,910 shares in the last quarter. Fisher Asset Management LLC raised its position in First Merchants Corporation by 45.5% in the first quarter. Fisher Asset Management LLC now owns 60,514 shares of the bank’s stock valued at $2,379,000 after buying an additional 18,924 shares in the last quarter. Russell Investments Group Ltd. raised its position in First Merchants Corporation by 12.5% in the first quarter. Russell Investments Group Ltd. now owns 313,680 shares of the bank’s stock valued at $12,333,000 after buying an additional 34,732 shares in the last quarter. Finally, First Merchants Corp raised its position in First Merchants Corporation by 54.0% in the first quarter. First Merchants Corp now owns 21,796 shares of the bank’s stock valued at $857,000 after buying an additional 7,642 shares in the last quarter. 67.85% of the stock is currently owned by institutional investors.

Shares of First Merchants Corporation (NASDAQ FRME) traded down 1.02% during midday trading on Friday, reaching $38.90. 229,037 shares of the company’s stock traded hands. First Merchants Corporation has a one year low of $25.84 and a one year high of $43.48. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 17.76 and a beta of 0.92. The company has a 50-day moving average of $40.11 and a 200-day moving average of $40.07.

First Merchants Corporation (NASDAQ:FRME) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. First Merchants Corporation had a net margin of 27.04% and a return on equity of 9.63%. The business had revenue of $81.53 million for the quarter, compared to analysts’ expectations of $78.75 million. Equities research analysts anticipate that First Merchants Corporation will post $2.32 EPS for the current year.

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Several equities research analysts have weighed in on FRME shares. Zacks Investment Research cut shares of First Merchants Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. ValuEngine raised shares of First Merchants Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub cut shares of First Merchants Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Piper Jaffray Companies reissued a “hold” rating on shares of First Merchants Corporation in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.33.

In other First Merchants Corporation news, Director Terry L. Walker sold 1,221 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $42.30, for a total transaction of $51,648.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark K. Hardwick sold 1,851 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $39.69, for a total transaction of $73,466.19. Following the transaction, the insider now owns 75,120 shares in the company, valued at approximately $2,981,512.80. The disclosure for this sale can be found here. Insiders have acquired 65 shares of company stock worth $2,616 in the last quarter. Company insiders own 1.41% of the company’s stock.

First Merchants Corporation Company Profile

First Merchants Corporation is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. It operates through community banking business segment. The Bank also operates Lafayette Bank and Trust, and First Merchants Private Wealth Advisors (each as a division of First Merchants Bank).

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Institutional Ownership by Quarter for First Merchants Corporation (NASDAQ:FRME)

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