Campbell & CO Investment Adviser LLC Makes New $491,000 Investment in First Merchants Corporation $FRME

Campbell & CO Investment Adviser LLC purchased a new stake in First Merchants Corporation (NASDAQ:FRME) during the third quarter, HoldingsChannel.com reports. The firm purchased 13,028 shares of the bank’s stock, valued at approximately $491,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in First Merchants by 19.5% in the first quarter. AQR Capital Management LLC now owns 118,650 shares of the bank’s stock valued at $4,798,000 after acquiring an additional 19,375 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of First Merchants by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,708 shares of the bank’s stock worth $1,404,000 after purchasing an additional 1,522 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of First Merchants by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,785 shares of the bank’s stock valued at $5,370,000 after purchasing an additional 8,212 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of First Merchants by 941.6% during the 1st quarter. Jane Street Group LLC now owns 107,859 shares of the bank’s stock worth $4,362,000 after purchasing an additional 97,504 shares during the period. Finally, Intech Investment Management LLC increased its position in First Merchants by 42.6% during the 1st quarter. Intech Investment Management LLC now owns 43,260 shares of the bank’s stock worth $1,749,000 after purchasing an additional 12,922 shares in the last quarter. 73.92% of the stock is currently owned by institutional investors and hedge funds.

First Merchants Stock Performance

Shares of FRME opened at $39.64 on Friday. The stock has a market capitalization of $2.29 billion, a PE ratio of 9.91 and a beta of 0.93. The business’s fifty day moving average price is $37.70 and its 200 day moving average price is $38.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.90. First Merchants Corporation has a 12-month low of $33.13 and a 12-month high of $45.62.

First Merchants (NASDAQ:FRME) last released its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $172.35 million for the quarter, compared to analyst estimates of $172.78 million. First Merchants had a net margin of 22.04% and a return on equity of 9.82%. During the same quarter in the prior year, the business earned $0.84 earnings per share. Equities research analysts forecast that First Merchants Corporation will post 3.79 EPS for the current year.

First Merchants Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.36 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.44 annualized dividend and a yield of 3.6%. First Merchants’s dividend payout ratio is 36.00%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler reduced their price target on shares of First Merchants from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, October 27th. Stephens reaffirmed an “equal weight” rating and set a $46.00 price target on shares of First Merchants in a research report on Monday, September 29th. Zacks Research lowered First Merchants from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Wall Street Zen upgraded First Merchants from a “sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods increased their target price on First Merchants from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.60.

About First Merchants

First Merchants Corporation, through its subsidiary First Merchants Bank, offers a comprehensive suite of banking and financial services to individuals, businesses and public sector clients. The company’s core business activities include retail and commercial banking, lending, treasury and cash management, and wealth advisory services. With a focus on relationship banking, First Merchants seeks to deliver tailored solutions for deposit accounts, loan financing and other credit products.

On the consumer side, First Merchants provides checking and savings accounts, certificates of deposit, personal and mortgage loans, and electronic banking conveniences.