First Merchants Co. Declares Quarterly Dividend of $0.08 (FRME)
First Merchants (NASDAQ:FRME) announced a quarterly dividend on Friday, August 15th, AnalystRatings.Net reports. Investors of record on Friday, September 5th will be paid a dividend of 0.08 per share on Friday, September 19th. This represents a $0.32 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, September 3rd.
On a related note, analysts at FIG Partners upgraded shares of First Merchants from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 3rd. They now have a $23.50 price target on the stock.
First Merchants (NASDAQ:FRME) traded down 0.70% during mid-day trading on Friday, hitting $20.00. 48,724 shares of the company’s stock traded hands. First Merchants has a 52-week low of $16.67 and a 52-week high of $23.35. The stock has a 50-day moving average of $20.5 and a 200-day moving average of $20.85. The company has a market cap of $721.1 million and a price-to-earnings ratio of 13.53.
First Merchants (NASDAQ:FRME) last released its earnings data on Thursday, July 24th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.05. Analysts expect that First Merchants will post $1.65 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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