First Merchants (FRME) to Release Quarterly Earnings on Thursday

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

First Merchants (NASDAQ:FRME) last issued its earnings results on Thursday, January 25th. The bank reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $156.51 million during the quarter, compared to analysts’ expectations of $158.50 million. First Merchants had a return on equity of 10.97% and a net margin of 22.39%. 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 Trading Down 0.1 %

NASDAQ FRME opened at $32.48 on Thursday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 8.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.86 and a current ratio of 0.86. First Merchants has a one year low of $24.52 and a one year high of $38.16. The company’s 50 day moving average price is $33.76 and its 200 day moving average price is $32.80.

First Merchants Announces Dividend

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

Insiders Place Their Bets

In related news, insider Stephan Fluhler sold 3,193 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $33.17, for a total transaction of $105,911.81. Following the sale, the insider now directly 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 hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Trading of First Merchants

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in shares of First Merchants in the 4th quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new position in First Merchants in the first quarter valued at approximately $35,000. State of Wyoming grew its holdings in shares of First Merchants by 35.0% during the second quarter. State of Wyoming now owns 1,454 shares of the bank’s stock valued at $41,000 after purchasing an additional 377 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of First Merchants during the 1st quarter worth approximately $50,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of First Merchants during the 3rd quarter worth approximately $99,000. Institutional investors own 73.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James increased their price target on First Merchants from $33.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, January 29th. StockNews.com downgraded First Merchants from a “hold” rating to a “sell” rating in a report 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.