In a report released today, Daniel Tamayo from Raymond James maintained a Buy rating on First Merchants (FRME – Research Report), with a price target of $50.00. The company’s shares opened today at $40.66.
According to TipRanks, Tamayo is a 5-star analyst with an average return of 19.6% and a 60.38% success rate. Tamayo covers the Financial sector, focusing on stocks such as First Bancorp, First Mid-Illinois Bancshares, and First Busey.
First Merchants has an analyst consensus of Hold.
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The company has a one-year high of $44.71 and a one-year low of $33.55. Currently, First Merchants has an average volume of 160.1K.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FRME in relation to earlier this year.
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First Merchants Corp. (Indiana) is a holding company, which engages in the provision of financial services. It operates through the following segments: Commercial, Commercial Real Estate, Consumer, Residential, and Finance Leases. The Commercial lending segment is primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The Commercial Real Estate lending involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Consumer and Residential segments establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. The company was founded in September 1982 and is headquartered in Muncie, IN.
Read More on FRME:
- First Merchants reports Q4 EPS $1.19, consensus $1.16
- First Merchants Corporation Announces Record Fourth Quarter and Full Year 2022 Results
- First Merchants Corporation Announces Cash Dividend on Its Preferred Stock
- First Merchants Corporation to Report Fourth Quarter 2022 Financial Results, Host Conference Call and Webcast
