Keefe Bruyette raised the firm’s price target on First Merchants (FRME) to $50 from $49 and keeps an Outperform rating on the shares. The company’s First Savings Financial acquisition is expected to be 11% accretive to earnings and expands First Merchants’ footprint into the greater Louisville marketplace, the analyst tells investors in a research note. Keefe views the deal favorably.
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Read More on FRME:
- First Merchants downgraded to Market Perform from Outperform at Raymond James
- First Merchants Announces Merger with First Savings
- First Merchants, First Savings to merge in $241.3M all-stock transaction
- First Merchants Announces Cash Dividend for Shareholders
- First Merchants Reports Strong Earnings Amid Challenges