Short Interest in First Merchants Co. (NASDAQ:FRMEP) Increases By 675.0%

First Merchants Co. (NASDAQ:FRMEP) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 155 shares, a growth of 675.0% from the August 15th total of 20 shares. Based on an average daily volume of 1,075 shares, the days-to-cover ratio is presently 0.1 days.

First Merchants Price Performance

Shares of First Merchants stock opened at $25.18 on Friday. The firm has a 50 day simple moving average of $25.40 and a 200 day simple moving average of $25.54. First Merchants has a fifty-two week low of $24.73 and a fifty-two week high of $27.09.

First Merchants Announces Dividend

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