Short Interest in First Merchants Co. (NASDAQ:FRMEP) Drops By 79.3%

First Merchants Co. (NASDAQ:FRMEP) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 245 shares, a drop of 79.3% from the February 26th total of 1,182 shares. Based on an average daily volume of 670 shares, the short-interest ratio is presently 0.4 days.

First Merchants Stock Performance

Shares of FRMEP stock traded up $0.04 on Thursday, hitting $25.64. The company had a trading volume of 1,104 shares, compared to its average volume of 891. First Merchants has a twelve month low of $25.00 and a twelve month high of $27.09. The company has a 50-day moving average price of $25.76 and a 200-day moving average price of $25.75.

First Merchants Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 16th. Shareholders of record on Friday, January 30th were issued a $0.4688 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.88 dividend on an annualized basis and a yield of 7.3%.

About First Merchants

First Merchants Corporation (NASDAQ: FRMEP) is a bank holding company headquartered in Muncie, Indiana, offering a full suite of financial services through its subsidiary, First Merchants Bank. The company provides consumer and commercial banking products, including checking and savings accounts, business and real estate loans, treasury management, and digital banking solutions. First Merchants also offers mortgage origination, wealth management, trust services, and insurance brokerage through dedicated teams.

Incorporated in 1983, First Merchants traces its roots to Merchant’s National Bank of Muncie, which was founded in 1893.