First Merchants Co. (NASDAQ:FRME) declared a quarterly dividend on Thursday, November 7th, Zacks reports. Shareholders of record on Friday, December 6th will be given a dividend of 0.26 per share by the bank on Friday, December 20th. This represents a $1.04 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, December 5th.
Shares of First Merchants stock traded down $0.72 during trading hours on Tuesday, reaching $39.66. 105 shares of the company were exchanged, compared to its average volume of 140,335. First Merchants has a 1 year low of $32.49 and a 1 year high of $42.49. The stock’s fifty day moving average is $39.98 and its 200 day moving average is $37.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $2.26 billion, a PE ratio of 12.32 and a beta of 1.07.
First Merchants (NASDAQ:FRME) last released its earnings results on Thursday, October 24th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.08. The firm had revenue of $111.05 million during the quarter, compared to analyst estimates of $109.87 million. First Merchants had a return on equity of 10.36% and a net margin of 29.88%. Research analysts expect that First Merchants will post 3.32 earnings per share for the current year.
FRME has been the subject of several recent research reports. BidaskClub raised shares of First Merchants from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. ValuEngine upgraded shares of First Merchants from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Zacks Investment Research lowered shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. First Merchants presently has a consensus rating of “Hold” and an average target price of $42.60.
In other First Merchants news, Director Charles E. Schalliol sold 7,300 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $37.98, for a total value of $277,254.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael J. Stewart sold 2,250 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $40.99, for a total value of $92,227.50. In the last quarter, insiders have sold 13,423 shares of company stock valued at $520,451. 1.30% of the stock is owned by insiders.
First Merchants Company Profile
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 rents safe deposit facilities.
Featured Article: Can systematic risk be avoided?
Receive News & Ratings for First Merchants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Merchants and related companies with MarketBeat.com's FREE daily email newsletter.