First Merchants (FRME) Expected to Announce Earnings on Thursday

First Merchants (NASDAQ:FRME - Get Free Report) is anticipated to announce its earnings results before the market opens on Thursday, January 30th. Analysts expect the company to announce earnings of $0.90 per share and revenue of $167,840.00 billion for the quarter. Investors interested in participating in the company's conference call can do so using this link.

First Merchants (NASDAQ:FRME - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.06). First Merchants had a return on equity of 8.94% and a net margin of 16.94%. The company had revenue of $265.95 million for the quarter, compared to analysts' expectations of $160.55 million. During the same quarter last year, the business posted $0.94 EPS. On average, analysts expect First Merchants to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

First Merchants Stock Performance

NASDAQ FRME traded up $0.10 during trading hours on Thursday, reaching $40.12. 181,230 shares of the company were exchanged, compared to its average volume of 220,209. First Merchants has a 1 year low of $30.55 and a 1 year high of $46.13. The business's 50 day simple moving average is $41.61 and its 200-day simple moving average is $39.04. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2.35 billion, a P/E ratio of 13.24 and a beta of 1.06.

First Merchants Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 3.49%. First Merchants's dividend payout ratio (DPR) is presently 46.20%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FRME shares. Keefe, Bruyette & Woods raised their price objective on shares of First Merchants from $43.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler reduced their target price on shares of First Merchants from $50.00 to $47.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.60.

Insider Transactions at First Merchants

In related news, President Michael J. Stewart sold 7,248 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $43.73, for a total transaction of $316,955.04. Following the completion of the transaction, the president now owns 92,664 shares of the company's stock, valued at approximately $4,052,196.72. The trade was a 7.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.32% of the company's stock.

First Merchants Company Profile

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.