Shares of First Merchants Co. (NASDAQ:FRME) have been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $50.00.
Several research firms have commented on FRME. Zacks Investment Research upgraded shares of First Merchants from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Friday, January 12th. BidaskClub upgraded shares of First Merchants from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray restated a “hold” rating and issued a $48.00 price target on shares of First Merchants in a research note on Sunday, January 28th. FIG Partners reiterated a “market-perform” rating on shares of First Merchants in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $52.00 target price on shares of First Merchants in a research note on Thursday, January 25th.
In related news, insider Michael J. Stewart sold 2,219 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $42.60, for a total transaction of $94,529.40. Following the completion of the transaction, the insider now owns 55,706 shares in the company, valued at $2,373,075.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have purchased 63 shares of company stock valued at $2,661. Insiders own 1.41% of the company’s stock.
Shares of NASDAQ:FRME traded up $0.42 during trading on Friday, hitting $43.03. The company’s stock had a trading volume of 224,934 shares, compared to its average volume of 151,243. The company has a market cap of $2,083.70, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.03 and a beta of 0.91. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.42. First Merchants has a fifty-two week low of $37.09 and a fifty-two week high of $45.42.
First Merchants (NASDAQ:FRME) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.61 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $97.83 million during the quarter, compared to the consensus estimate of $98.30 million. First Merchants had a net margin of 24.90% and a return on equity of 9.47%. analysts expect that First Merchants will post 2.96 EPS for the current year.
First Merchants Company Profile
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 rents safe deposit facilities.
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