First Merchants Co. (NASDAQ:FRME) declared a quarterly dividend on Thursday, November 7th, Zacks reports. Investors of record on Friday, December 6th will be given a dividend of 0.26 per share by the bank on Friday, December 20th. This represents a $1.04 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, December 5th.
Shares of NASDAQ:FRME opened at $40.38 on Tuesday. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.54 and a beta of 1.07. The company has a 50 day moving average of $39.98 and a two-hundred day moving average of $37.51. First Merchants has a 52-week low of $32.49 and a 52-week high of $42.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.28.
First Merchants (NASDAQ:FRME) last posted its earnings results on Thursday, October 24th. The bank reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. The business had revenue of $111.05 million for the quarter, compared to analysts’ expectations of $109.87 million. First Merchants had a net margin of 29.88% and a return on equity of 10.36%. On average, equities analysts anticipate that First Merchants will post 3.32 earnings per share for the current year.
In related news, EVP Michael J. Stewart sold 2,250 shares of First Merchants stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $40.99, for a total value of $92,227.50. Also, Director Charles E. Schalliol sold 7,300 shares of First Merchants stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $37.98, for a total value of $277,254.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,423 shares of company stock valued at $520,451. Company insiders own 1.30% of the company’s stock.
Several research firms recently issued reports on FRME. Zacks Investment Research downgraded shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. ValuEngine upgraded First Merchants from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, BidaskClub raised First Merchants from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $42.60.
About First Merchants
First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as rents safe deposit facilities.
Featured Article: The mechanics of the bid-ask spread in trading
Receive News & Ratings for First Merchants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Merchants and related companies with MarketBeat.com's FREE daily email newsletter.