First Merchants (FRME) Set to Announce Earnings on Thursday

First Merchants (NASDAQ:FRMEGet Rating) is scheduled to post its quarterly earnings results before the market opens on Thursday, January 26th. Analysts expect First Merchants to post earnings of $1.17 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

First Merchants (NASDAQ:FRMEGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The bank reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. First Merchants had a net margin of 31.42% and a return on equity of 11.73%. The firm had revenue of $169.92 million for 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.

First Merchants Stock Performance

Shares of FRME opened at $40.18 on Wednesday. First Merchants has a 52-week low of $34.07 and a 52-week high of $45.98. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 11.45 and a beta of 1.08. The business’s 50 day moving average is $41.63 and its two-hundred day moving average is $41.17.

First Merchants Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were issued 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 is currently 36.47%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Raymond James increased their price target on First Merchants from $48.00 to $52.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 26th. StockNews.com initiated coverage on First Merchants in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Insider Activity

In other news, Director Charles E. Schalliol sold 24,523 shares of First Merchants stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $44.25, for a total transaction of $1,085,142.75. Following the sale, the director now owns 32,020 shares of the company’s stock, valued at approximately $1,416,885. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Charles E. Schalliol sold 24,523 shares of the business’s 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 sale, the director now owns 32,020 shares in the company, valued at approximately $1,416,885. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephan Fluhler sold 3,174 shares of the 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 sale, the insider now owns 22,576 shares in the company, valued at $999,891.04. The disclosure for this sale can be found here. 1.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Merchants

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of First Merchants by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,708,968 shares of the bank’s stock valued at $237,493,000 after purchasing an additional 426,862 shares during the period. State Street Corp lifted its position in First Merchants by 7.9% during the first quarter. State Street Corp now owns 1,882,370 shares of the bank’s stock worth $78,307,000 after acquiring an additional 137,877 shares during the last quarter. Sei Investments Co. lifted its holdings in First Merchants by 97.9% during the 2nd quarter. Sei Investments Co. now owns 188,360 shares of the bank’s stock worth $6,711,000 after purchasing an additional 93,181 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Merchants by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,650,090 shares of the bank’s stock valued at $110,244,000 after acquiring an additional 72,607 shares during the period. Finally, EJF Capital LLC bought a new stake in First Merchants in the 1st quarter valued at about $2,793,000. Institutional investors own 71.43% of the company’s stock.

First Merchants Company Profile

(Get Rating)

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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Earnings History for First Merchants (NASDAQ:FRME)

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