First Merchants Corporation (NASDAQ:FRME) – Research analysts at FIG Partners lowered their FY2017 earnings per share estimates for First Merchants Corporation in a note issued to investors on Monday. FIG Partners analyst B. Martin now forecasts that the bank will post earnings of $2.25 per share for the year, down from their previous estimate of $2.28.

First Merchants Corporation (NASDAQ:FRME) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.05). First Merchants Corporation had a return on equity of 10.38% and a net margin of 26.28%. The business had revenue of $93.09 million for the quarter, compared to analysts’ expectations of $97.45 million.

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FRME has been the subject of several other research reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $47.00 price target on shares of First Merchants Corporation in a research report on Sunday. Zacks Investment Research upgraded shares of First Merchants Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Monday. Piper Jaffray Companies restated a “neutral” rating and set a $46.00 price target on shares of First Merchants Corporation in a research report on Friday, October 6th. Finally, BidaskClub lowered shares of First Merchants Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. First Merchants Corporation has a consensus rating of “Hold” and a consensus target price of $47.33.

In other news, insider Mark K. Hardwick sold 1,851 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $39.69, for a total transaction of $73,466.19. Following the completion of the transaction, the insider now owns 75,120 shares in the company, valued at $2,981,512.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in FRME. UBS Asset Management Americas Inc. grew its position in shares of First Merchants Corporation by 116.1% during the first quarter. UBS Asset Management Americas Inc. now owns 14,264 shares of the bank’s stock worth $561,000 after acquiring an additional 7,664 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of First Merchants Corporation by 218.5% during the first quarter. Ameriprise Financial Inc. now owns 107,292 shares of the bank’s stock worth $4,219,000 after acquiring an additional 73,602 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of First Merchants Corporation by 13.9% during the first quarter. Parametric Portfolio Associates LLC now owns 49,942 shares of the bank’s stock worth $1,964,000 after acquiring an additional 6,081 shares during the last quarter. Teachers Advisors LLC grew its position in shares of First Merchants Corporation by 3.4% during the first quarter. Teachers Advisors LLC now owns 94,852 shares of the bank’s stock worth $3,730,000 after acquiring an additional 3,147 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in shares of First Merchants Corporation by 5.9% during the first quarter. TIAA CREF Investment Management LLC now owns 227,401 shares of the bank’s stock worth $8,941,000 after acquiring an additional 12,682 shares during the last quarter. Institutional investors and hedge funds own 67.32% of the company’s stock.

First Merchants Corporation Company Profile

First Merchants Corporation is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. It operates through community banking business segment. The Bank also operates Lafayette Bank and Trust, and First Merchants Private Wealth Advisors (each as a division of First Merchants Bank).

Earnings History and Estimates for First Merchants Corporation (NASDAQ:FRME)

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