First Merchants Co. (NASDAQ:FRMEP) Short Interest Down 64.5% in July

First Merchants Co. (NASDAQ:FRMEP) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 2,050 shares, a drop of 64.5% from the July 15th total of 5,778 shares. Based on an average daily volume of 2,842 shares, the short-interest ratio is currently 0.7 days.

First Merchants Price Performance

Shares of FRMEP stock traded up $0.26 on Friday, hitting $25.46. The stock had a trading volume of 287 shares, compared to its average volume of 1,694. The stock’s 50 day moving average is $25.48 and its 200-day moving average is $25.60. First Merchants has a 52-week low of $24.73 and a 52-week high of $27.09.

First Merchants Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 30th were given a dividend of $0.4688 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend was Thursday, July 30th.

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.