Insider Selling: First Merchants Co. (NASDAQ:FRME) Director Sells 1,400 Shares of Stock

First Merchants Co. (NASDAQ:FRMEGet Rating) Director Patrick J. Fehring sold 1,400 shares of First Merchants stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $39.43, for a total value of $55,202.00. Following the sale, the director now owns 149,988 shares of the company’s stock, valued at approximately $5,914,026.84. The transaction was disclosed in a document filed with the SEC, which is available at this link.

FRME traded up $0.65 during midday trading on Monday, hitting $39.55. The company’s stock had a trading volume of 244,963 shares, compared to its average volume of 255,820. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.35 billion, a P/E ratio of 10.21 and a beta of 1.07. The firm has a 50-day moving average price of $40.88 and a two-hundred day moving average price of $42.05. First Merchants Co. has a 52-week low of $37.67 and a 52-week high of $47.36.

First Merchants (NASDAQ:FRMEGet Rating) last issued its earnings results on Tuesday, April 26th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. First Merchants had a return on equity of 10.90% and a net margin of 36.71%. The business had revenue of $128.18 million during the quarter, compared to analysts’ expectations of $131.07 million. During the same quarter in the previous year, the business earned $0.91 EPS. On average, equities analysts expect that First Merchants Co. will post 3.76 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, June 3rd will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, June 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from First Merchants’s previous quarterly dividend of $0.29. First Merchants’s payout ratio is presently 30.45%.

Several analysts have commented on the company. Zacks Investment Research cut First Merchants from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. assumed coverage on First Merchants in a report on Thursday, March 31st. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $47.00.

Large investors have recently modified their holdings of the company. Allworth Financial LP lifted its position in First Merchants by 5,050.0% during the 1st quarter. Allworth Financial LP now owns 618 shares of the bank’s stock worth $26,000 after acquiring an additional 606 shares in the last quarter. Lazard Asset Management LLC acquired a new position in First Merchants during the 4th quarter worth approximately $27,000. Point72 Hong Kong Ltd acquired a new position in First Merchants during the 3rd quarter worth approximately $41,000. Signaturefd LLC lifted its position in First Merchants by 31.9% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the bank’s stock worth $99,000 after acquiring an additional 578 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in First Merchants during the 1st quarter worth approximately $151,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

About First Merchants (Get Rating)

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 public finance. The company also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services.

Featured Stories

Insider Buying and Selling by Quarter for First Merchants (NASDAQ:FRME)

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's FREE daily email newsletter.