KBW analyst Damon Delmonte maintained a Buy rating on First Merchants (FRME – Research Report) today and set a price target of $43.00. The company’s shares closed yesterday at $34.46.
According to TipRanks, Delmonte is a 5-star analyst with an average return of 16.3% and a 70.08% success rate. Delmonte covers the Financial sector, focusing on stocks such as Financial Institutions, Heartland Financial USA, and Macatawa Bank.
First Merchants has an analyst consensus of Moderate Buy, with a price target consensus of $43.00.
FRME market cap is currently $2.06B and has a P/E ratio of 9.31.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Michael Becher, a Director at FRME bought 1,500.00 shares for a total of $32,475.00.
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First Merchants (FRME) Company Description:
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.
