First Merchants Corp. (FRME) Posts Quarterly Results
First Merchants Corp. (NASDAQ:FRME) issued its quarterly earnings data on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35, American Banking & Market News reports.
Several analysts have recently commented on the stock. Analysts at DA Davidson initiated coverage on shares of First Merchants Corp. in a research note to investors on Wednesday, September 25th. They set a “buy” rating and a $22.00 price target on the stock. On the ratings front, analysts at Zacks downgraded shares of First Merchants Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, August 19th. They now have a $20.20 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of First Merchants Corp. from $18.00 to $21.00 in a research note to investors on Monday, July 29th.
Shares of First Merchants Corp. (NASDAQ:FRME) traded up 1.29% during mid-day trading on Thursday, hitting $19.67. The stock had a trading volume of 68,640 shares. First Merchants Corp. has a 52 week low of $12.53 and a 52 week high of $19.15. The stock has a 50-day moving average of $17.97 and a 200-day moving average of $16.74. The company has a market cap of $566.6 million and a P/E ratio of 13.97.
First Merchants Corporation is a financial holding company. The Company has one full-service bank charter, First Merchants Bank, National Association (NASDAQ:FRME).
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