Bank of New York Mellon Corp lifted its stake in shares of First Merchants Co. (NASDAQ:FRME) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 944,229 shares of the bank’s stock after purchasing an additional 164,389 shares during the quarter. Bank of New York Mellon Corp owned about 1.92% of First Merchants worth $39,714,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Macquarie Group Ltd. acquired a new stake in shares of First Merchants during the 3rd quarter worth approximately $172,000. Ullmann Financial Group Inc. acquired a new stake in shares of First Merchants during the 4th quarter worth approximately $235,000. Trexquant Investment LP acquired a new stake in shares of First Merchants during the 3rd quarter worth approximately $243,000. BNP Paribas Arbitrage SA raised its position in shares of First Merchants by 23.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,947 shares of the bank’s stock worth $298,000 after purchasing an additional 1,317 shares during the period. Finally, Commonwealth Equity Services Inc acquired a new stake in shares of First Merchants during the 3rd quarter worth approximately $472,000. Institutional investors and hedge funds own 70.10% of the company’s stock.
In other First Merchants news, Director Terry L. Walker acquired 3,176 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average cost of $42.69 per share, with a total value of $135,583.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael J. Stewart sold 2,219 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $42.60, for a total value of $94,529.40. Following the completion of the transaction, the insider now directly owns 55,706 shares of the company’s stock, valued at $2,373,075.60. The disclosure for this sale can be found here. Insiders purchased a total of 3,227 shares of company stock valued at $137,744 over the last three months. Corporate insiders own 1.41% of the company’s stock.
First Merchants Co. (NASDAQ:FRME) opened at $44.25 on Tuesday. First Merchants Co. has a fifty-two week low of $36.73 and a fifty-two week high of $45.42. The stock has a market capitalization of $2,189.71, a P/E ratio of 20.86, a P/E/G ratio of 2.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.93 and a quick ratio of 0.93.
First Merchants (NASDAQ:FRME) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. First Merchants had a return on equity of 9.47% and a net margin of 24.90%. The business had revenue of $97.83 million during the quarter, compared to analyst estimates of $98.30 million. analysts anticipate that First Merchants Co. will post 2.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, March 1st. First Merchants’s dividend payout ratio (DPR) is 33.96%.
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About First Merchants
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).
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