First Merchants Corporation (FRME) – What Are Analysts Saying About This Stock?

First Merchants Corporation (NASDAQ:FRME) has earned an average rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $46.00.

Several analysts have recently issued reports on FRME shares. Raymond James Financial upgraded shares of First Merchants from a “market perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Merchants in a research report on Friday. Piper Sandler decreased their price target on First Merchants from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Finally, Stephens raised First Merchants to a “hold” rating in a research report on Tuesday, September 22nd.

First Merchants Trading Up 1.9%

NASDAQ:FRME opened at $41.36 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.95 and a quick ratio of 0.95. First Merchants has a one year low of $34.66 and a one year high of $45.33. The company has a market cap of $2.60 billion, a PE ratio of 12.80 and a beta of 0.87. The firm has a 50-day moving average of $40.60 and a 200-day moving average of $40.73.

First Merchants (NASDAQ:FRME) last issued its quarterly earnings data on Wednesday, October 21st. The bank reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The firm had revenue of $205.33 million during the quarter, compared to analyst estimates of $203.94 million. First Merchants had a return on equity of 9.14% and a net margin of 17.56%. As a group, equities research analysts expect that First Merchants will post 3.86 EPS for the current fiscal year.

First Merchants Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, September 4th. First Merchants’s payout ratio is presently 45.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of First Merchants in the second quarter worth about $232,637,000. Dimensional Fund Advisors LP grew its stake in First Merchants by 8.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,596,017 shares of the bank’s stock valued at $139,272,000 after acquiring an additional 277,977 shares in the last quarter. Systematic Financial Management LP grew its stake in First Merchants by 10.7% during the first quarter. Systematic Financial Management LP now owns 861,995 shares of the bank’s stock valued at $33,385,000 after acquiring an additional 83,667 shares in the last quarter. First Trust Advisors LP grew its stake in First Merchants by 1.4% during the first quarter. First Trust Advisors LP now owns 725,259 shares of the bank’s stock valued at $28,089,000 after acquiring an additional 9,771 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in First Merchants during the 2nd quarter worth approximately $27,195,000. 73.92% of the stock is owned by institutional investors.

First Merchants Company Profile

First Merchants Corporation is a financial services holding company headquartered in Muncie, Indiana. Through its principal subsidiary, First Merchants Bank, the company provides banking and related financial services to individuals, families, businesses and institutions.

First Merchants Bank offers deposit accounts, consumer and commercial lending, mortgage services, treasury and cash-management solutions, online and mobile banking, investment management and trust services. The company also provides wealth-management and insurance-related services through affiliated operations.

Founded in 1893, First Merchants has expanded through organic growth and acquisitions and serves customers across Indiana, Ohio and Michigan.