Short Interest in First Merchants Co. (NASDAQ:FRMEP) Drops By 98.9%

First Merchants Co. (NASDAQ:FRMEP) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 23 shares, a drop of 98.9% from the May 31st total of 2,016 shares. Based on an average daily trading volume, of 1,134 shares, the short-interest ratio is presently 0.0 days.

First Merchants Price Performance

Shares of FRMEP traded down $0.11 during mid-day trading on Thursday, hitting $25.60. The company’s stock had a trading volume of 1,399 shares, compared to its average volume of 1,533. The company’s 50-day moving average is $25.47 and its 200-day moving average is $25.64. First Merchants has a 52-week low of $24.73 and a 52-week high of $27.09.

First Merchants Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were issued a $0.4688 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.3%.

First Merchants Company Profile

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.