First Merchants Corp. Downgraded to “Neutral” at DA Davidson (FRME)
First Merchants Corp. (NASDAQ:FRME) was downgraded by investment analysts at DA Davidson from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
Shares of First Merchants Corp. (NASDAQ:FRME) opened at 22.17 on Monday. First Merchants Corp. has a 1-year low of $14.08 and a 1-year high of $23.35. The stock’s 50-day moving average is $21. and its 200-day moving average is $18.91. The company has a market cap of $639.1 million and a price-to-earnings ratio of 15.86.
First Merchants Corp. (NASDAQ:FRME) last released its earnings data on Thursday, October 24th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Analysts expect that First Merchants Corp. will post $1.40 EPS for the current fiscal year.
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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