First Merchants (NASDAQ:FRME – Get Rating) will release its earnings data before the market opens on Thursday, January 26th. Analysts expect First Merchants to post earnings of $1.17 per share for the quarter. Persons that wish to listen to the company's earnings conference call can do so using this link.
First Merchants (NASDAQ:FRME – Get Rating) last issued its quarterly earnings data on Tuesday, October 25th. The bank reported $1.12 EPS for the quarter, topping the consensus estimate of $1.10 by $0.02. First Merchants had a return on equity of 11.73% and a net margin of 31.42%. The company had revenue of $169.92 million during the quarter, compared to analyst estimates of $167.80 million. On average, analysts expect First Merchants to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
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First Merchants Stock Down 0.2 %
Shares of NASDAQ:FRME opened at $40.18 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $2.39 billion, a PE ratio of 11.45 and a beta of 1.08. The firm has a fifty day moving average of $41.63 and a 200 day moving average of $41.17. First Merchants has a 52-week low of $34.07 and a 52-week high of $45.98.
First Merchants Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were paid a $0.32 dividend. The ex-dividend date was Thursday, December 1st. This represents a $1.28 dividend on an annualized basis and a yield of 3.19%. First Merchants's dividend payout ratio (DPR) is currently 36.47%.
Analyst Ratings Changes
Several research firms have recently issued reports on FRME. Raymond James boosted their target price on First Merchants from $48.00 to $52.00 and gave the company a "strong-buy" rating in a research note on Wednesday, October 26th. StockNews.com initiated coverage on shares of First Merchants in a research note on Wednesday, October 12th. They set a "hold" rating for the company.
Insider Transactions at First Merchants
In other news, Director Charles E. Schalliol sold 24,523 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $44.25, for a total value of $1,085,142.75. Following the completion of the sale, the director now directly owns 32,020 shares of the company's stock, valued at $1,416,885. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Charles E. Schalliol sold 24,523 shares of the firm's stock in a transaction on Friday, October 28th. The shares were sold at an average price of $44.25, for a total transaction of $1,085,142.75. Following the completion of the transaction, the director now directly owns 32,020 shares of the company's stock, valued at $1,416,885. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephan Fluhler sold 3,174 shares of First Merchants stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $44.29, for a total value of $140,576.46. Following the completion of the sale, the insider now directly owns 22,576 shares in the company, valued at approximately $999,891.04. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company's stock.
Institutional Trading of First Merchants
Hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors lifted its position in shares of First Merchants by 6.1% in the 3rd quarter. Captrust Financial Advisors now owns 20,983 shares of the bank's stock worth $812,000 after purchasing an additional 1,211 shares during the period. Jane Street Group LLC boosted its holdings in shares of First Merchants by 28.7% in the 3rd quarter. Jane Street Group LLC now owns 9,271 shares of the bank's stock valued at $359,000 after acquiring an additional 2,070 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in First Merchants by 8.5% in the third quarter. BNP Paribas Arbitrage SNC now owns 21,097 shares of the bank's stock valued at $816,000 after purchasing an additional 1,653 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of First Merchants by 2.2% in the third quarter. Vanguard Group Inc. now owns 6,261,085 shares of the bank's stock worth $242,180,000 after buying an additional 134,383 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of First Merchants by 13.1% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 38,929 shares of the bank's stock worth $1,506,000 after purchasing an additional 4,500 shares during the period. Hedge funds and other institutional investors own 71.43% of the company's stock.
First Merchants Company Profile
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First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as public finance. The company also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services.
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