First Merchants (NASDAQ:FRME) Posts Earnings Results, Beats Expectations By $0.04 EPS

First Merchants (NASDAQ:FRMEGet Rating) released its quarterly earnings data on Tuesday. The bank reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.04, MarketWatch Earnings reports. First Merchants had a net margin of 36.97% and a return on equity of 11.02%. During the same period in the previous year, the company posted $0.91 earnings per share.

Shares of First Merchants stock traded down $0.40 during trading hours on Thursday, reaching $40.08. 242,496 shares of the company’s stock were exchanged, compared to its average volume of 266,035. The company has a 50 day moving average of $42.06 and a two-hundred day moving average of $42.41. First Merchants has a fifty-two week low of $37.67 and a fifty-two week high of $48.59. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.16 billion, a P/E ratio of 10.52 and a beta of 1.10.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Friday, March 4th were paid a dividend of $0.29 per share. The ex-dividend date was Thursday, March 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.89%. First Merchants’s dividend payout ratio is 30.45%.

FRME has been the subject of a number of research reports. Zacks Investment Research upgraded First Merchants from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, April 4th. StockNews.com initiated coverage on First Merchants in a report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, First Merchants currently has a consensus rating of “Buy” and a consensus target price of $47.00.

Institutional investors have recently bought and sold shares of the company. LPL Financial LLC boosted its stake in shares of First Merchants by 11.3% during the 3rd quarter. LPL Financial LLC now owns 5,829 shares of the bank’s stock worth $244,000 after buying an additional 590 shares during the last quarter. Amalgamated Bank boosted its stake in shares of First Merchants by 4.3% during the 4th quarter. Amalgamated Bank now owns 7,384 shares of the bank’s stock worth $309,000 after buying an additional 305 shares during the last quarter. Jane Street Group LLC lifted its stake in First Merchants by 13.0% in the 3rd quarter. Jane Street Group LLC now owns 8,915 shares of the bank’s stock valued at $373,000 after purchasing an additional 1,027 shares during the last quarter. Squarepoint Ops LLC lifted its stake in First Merchants by 3.7% in the 4th quarter. Squarepoint Ops LLC now owns 14,334 shares of the bank’s stock valued at $600,000 after purchasing an additional 510 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in First Merchants by 105.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 15,314 shares of the bank’s stock valued at $641,000 after purchasing an additional 7,866 shares during the last quarter. Institutional investors own 71.98% of the company’s stock.

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.

See Also

Earnings History for First Merchants (NASDAQ:FRME)

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