Short Interest in First Merchants Co. (NASDAQ:FRMEP) Rises By 506.7%

First Merchants Co. (NASDAQ:FRMEP) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 3,907 shares, an increase of 506.7% from the December 31st total of 644 shares. Based on an average trading volume of 1,225 shares, the short-interest ratio is currently 3.2 days. Based on an average trading volume of 1,225 shares, the short-interest ratio is currently 3.2 days.

First Merchants Price Performance

FRMEP opened at $25.99 on Wednesday. The company’s 50 day simple moving average is $25.72 and its 200-day simple moving average is $25.66. First Merchants has a one year low of $24.15 and a one year high of $27.09.

First Merchants Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 16th. Stockholders of record on Friday, January 30th will be given a $0.4688 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $1.88 annualized dividend and a dividend yield of 7.2%.

About First Merchants

First Merchants Corporation (NASDAQ: FRMEP) is a bank holding company headquartered in Muncie, Indiana, offering a full suite of financial services through its subsidiary, First Merchants Bank. The company provides consumer and commercial banking products, including checking and savings accounts, business and real estate loans, treasury management, and digital banking solutions. First Merchants also offers mortgage origination, wealth management, trust services, and insurance brokerage through dedicated teams.

Incorporated in 1983, First Merchants traces its roots to Merchant’s National Bank of Muncie, which was founded in 1893.