Patrick J. Fehring Sells 10,400 Shares of First Merchants Co. (NASDAQ:FRME) Stock

First Merchants Co. (NASDAQ:FRMEGet Rating) Director Patrick J. Fehring sold 10,400 shares of First Merchants stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $38.40, for a total value of $399,360.00. Following the transaction, the director now directly owns 138,988 shares of the company’s stock, valued at approximately $5,337,139.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NASDAQ FRME traded up $0.65 during trading on Monday, hitting $39.55. The company had a trading volume of 244,963 shares, compared to its average volume of 255,820. First Merchants Co. has a 12 month low of $37.67 and a 12 month high of $47.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $2.35 billion, a P/E ratio of 10.21 and a beta of 1.07. The stock has a 50 day simple moving average of $40.88 and a 200 day simple moving average of $42.05.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, June 3rd will be paid a $0.32 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $1.28 annualized dividend and a 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 large investors have recently bought and sold shares of FRME. Allworth Financial LP boosted its position in shares of First Merchants by 5,050.0% during the 1st quarter. Allworth Financial LP now owns 618 shares of the bank’s stock valued at $26,000 after acquiring an additional 606 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of First Merchants in the 4th quarter valued at about $27,000. Point72 Hong Kong Ltd bought a new stake in First Merchants during the third quarter worth approximately $41,000. Signaturefd LLC raised its holdings in First Merchants by 31.9% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the bank’s stock valued at $99,000 after buying an additional 578 shares during the period. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of First Merchants in the 1st quarter worth about $151,000. Institutional investors own 73.79% of the company’s stock.

A number of equities analysts have recently issued reports on the company. assumed coverage on First Merchants in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research cut First Merchants from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from, the company currently has a consensus rating of “Buy” and an average price target of $47.00.

First Merchants Company Profile (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.

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

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