First Merchants (FRME) Scheduled to Post Quarterly Earnings on Thursday

First Merchants (NASDAQ:FRME) is set to release its earnings data before the market opens on Thursday, April 25th. Analysts expect First Merchants to post earnings of $0.84 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

First Merchants (NASDAQ:FRME) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. First Merchants had a return on equity of 10.97% and a net margin of 22.39%. The business had revenue of $156.51 million during the quarter, compared to analyst estimates of $158.50 million. On average, analysts expect First Merchants to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

First Merchants Stock Performance

Shares of NASDAQ FRME opened at $32.48 on Thursday. First Merchants has a 1 year low of $24.52 and a 1 year high of $38.16. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $1.93 billion, a PE ratio of 8.68 and a beta of 1.08. The company’s fifty day moving average price is $33.76 and its 200 day moving average price is $32.80.

First Merchants Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.34 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.36 annualized dividend and a dividend yield of 4.19%. First Merchants’s dividend payout ratio (DPR) is 36.36%.

Insiders Place Their Bets

In other news, insider Stephan Fluhler sold 3,193 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $33.17, for a total value of $105,911.81. Following the completion of the sale, the insider now owns 24,070 shares of the company’s stock, valued at approximately $798,401.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FRME. Raymond James & Associates increased its position in shares of First Merchants by 162.4% during the 1st quarter. Raymond James & Associates now owns 23,798 shares of the bank’s stock worth $990,000 after purchasing an additional 14,728 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of First Merchants by 2.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 26,461 shares of the bank’s stock worth $1,101,000 after acquiring an additional 519 shares during the last quarter. American Century Companies Inc. boosted its position in shares of First Merchants by 22.6% during the 1st quarter. American Century Companies Inc. now owns 12,439 shares of the bank’s stock worth $517,000 after purchasing an additional 2,294 shares during the period. HighTower Advisors LLC raised its position in First Merchants by 7.0% in the first quarter. HighTower Advisors LLC now owns 5,337 shares of the bank’s stock valued at $221,000 after purchasing an additional 349 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in shares of First Merchants in the 1st quarter valued at $308,000. 73.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FRME shares. Raymond James raised their price target on shares of First Merchants from $33.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. StockNews.com lowered shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Friday, April 12th.

About First Merchants

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans.