First Merchants (FRME) Stock Forecast & Price Target

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All Analysts

Top Analysts

Premium

FRME Analyst Ratings

Moderate Buy

2 Buy

2 Hold

0 Sell

Based on 4 analysts giving stock ratings to

First

Merchants

in the past 3 months

TipRanks enables you to focus on the analyst rating consensus of all analysts or only the top performers in the past 3 months

FRME Stock 12 Month Forecast

Average Price Target

$47.33

▲(21.92% Upside)

Based on 4 Wall Street analysts offering 12 month price targets for First Merchants in the last 3 months. The average price target is $47.33 with a high forecast of $50.00 and a low forecast of $46.00. The average price target represents a 21.92% change from the last price of $38.82.

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Highest Price Target$50.00

Average Price Target$47.33

Lowest Price Target$46.00

The highest, average, and lowest price target of all analysts. Click on ‘Top Analysts’ to focus on the best performers.

Detailed List of Analyst Forecasts

Nathan Race

Piper Sandler

$48→$46

Buy

18.50%

Upside

Reiterated

10/27/25

First Merchants price target lowered to $46 from $48 at Piper SandlerFirst Merchants price target lowered to $46 from $48 at Piper Sandler

Damon Delmonte

KBW

$50

Buy

28.80%

Upside

Reiterated

10/23/25

KBW Keeps Their Buy Rating on First Merchants (FRME)

Unknown Analyst

Stephens

Not Ranked

Stephens

$46

Hold

18.50%

Upside

Reiterated

09/29/25

Stephens Remains a Hold on First Merchants (FRME)

Daniel Tamayo

Raymond James

―

Hold

―

Downgraded

09/26/25

First Merchants (FRME) was downgraded to a Hold Rating at Raymond JamesWe are downgrading FRME shares to Outperform while updating our model following the announcement to acquire (FSFG/$32.46/not covered). Though the deal creates entry into the Louisville MSA, boosts EPS forecasts, and was executed at a fair market price (1.35x P/TBV), the use of capital lessens the likelihood of share repurchases and material securities restructurings near-term, while its core NIM path faces some headwinds with lower rates. Finally, the acquired specialty business lines from First Savings offer no/minimal funding sources and could create incremental funding headwinds at a time when organic lending opportunities appear strong, driving our belief the deal could delay its path towards core financial improvement.

Brendan Nosal

Hovde Group

$50

Buy

28.80%

Upside

Upgraded

01/31/25

First Merchants upgraded to Outperform from Market Perform at Hovde GroupFirst Merchants upgraded to Outperform from Market Perform at Hovde Group

Analyst Type

Any

Human Analysts

Ranks

Any

Analyst Rating

Any

Upside/ Downside

Any

Action

Any

Nathan Race

Piper Sandler

$48→$46

Buy

18.50%

Upside

Reiterated

10/27/25

First Merchants price target lowered to $46 from $48 at Piper SandlerFirst Merchants price target lowered to $46 from $48 at Piper Sandler

Damon Delmonte

KBW

$50

Buy

28.80%

Upside

Reiterated

10/23/25

KBW Keeps Their Buy Rating on First Merchants (FRME)

Unknown Analyst

Stephens

Not Ranked

Stephens

$46

Hold

18.50%

Upside

Reiterated

09/29/25

Stephens Remains a Hold on First Merchants (FRME)

Daniel Tamayo

Raymond James

―

Hold

―

Downgraded

09/26/25

Brendan Nosal

Hovde Group

$50

Buy

28.80%

Upside

Upgraded

01/31/25

First Merchants upgraded to Outperform from Market Perform at Hovde GroupFirst Merchants upgraded to Outperform from Market Perform at Hovde Group

Stocks with the Highest Top Analyst Consensus in the Financial Sector

xxx

Find stocks in the Financial sector that are highly recommended by Top Performing Analysts.

Best Analysts Covering First Merchants

1 Month

xxx

Success Rate

10/19 ratings generated profit

Average Return

+1.08%

reiterated a xxx

rating 2 months ago

Copying xxxxxxxxxxxxxxxxxx

trades and holding each position for 1 Month would result in 52.63% of your transactions generating a profit, with an average return of +1.08% per trade.

3 Months

xxx

Success Rate

15/24 ratings generated profit

Average Return

+4.80%

reiterated a xxx

rating 2 months ago

Copying xxxxxxxxxxxxxxxxxx

trades and holding each position for 3 Months would result in 62.50% of your transactions generating a profit, with an average return of +4.80% per trade.

1 Year

Nathan RacePiper Sandler

Success Rate

12/19 ratings generated profit

Average Return

+3.40%

reiterated a buy rating 2 months ago

Copying Nathan Race's trades and holding each position for 1 Year would result in 63.16% of your transactions generating a profit, with an average return of +3.40% per trade.

2 Years

xxx

Success Rate

12/19 ratings generated profit

Average Return

+7.12%

reiterated a xxx

rating 2 months ago

Copying xxxxxxxxxxxxxxxxxx

trades and holding each position for 2 Years would result in 63.16% of your transactions generating a profit, with an average return of +7.12% per trade.

The Best Analyst Covering tool allows you to follow the analysts who have the best success rates and average returns on a specific stock. Only analysts that gave a Buy or Sell rating on the stock in the past 12 months are eligible for inclusion in this tool. Follow the analysts of your choice to receive real-time updates when they publish a new rating.

FRME Analyst Recommendation Trends

Rating

Jul 25

Aug 25

Sep 25

Oct 25

Dec 25

Strong Buy

Buy

Hold

Sell

Strong Sell

total

In the current month, FRME has received 9 Buy Ratings, 3 Hold Ratings, and 0 Sell Ratings. FRME average Analyst price target in the past 3 months is 47.33.

Each month's total comprises the sum of three months' worth of ratings.

FRME Financial Forecast

FRME Earnings Forecast

Next quarter’s earnings estimate for FRME is $0.95 with a range of $0.91 to $0.98. The previous quarter’s EPS was $0.98. FRME beat its EPS estimate ― of the time in the past 12 months, while its overall industry beat the EPS estimate 65.60% of the time in the same period. In the last calendar year FRME has Performed in-line its overall industry.

FRME Sales Forecast

Next quarter’s sales forecast for FRME is $173.13M with a range of $171.50M to $175.00M. The previous quarter’s sales results were $267.45M. FRME beat its sales estimates ― of the time in past 12 months, while its overall industry beat sales estimates 79.60% of the time in the same period. In the last calendar year FRME has Performed in-line its overall industry.

FRME Stock Forecast FAQ

What is FRME’s average 12-month price target, according to analysts?

Based on analyst ratings, First Merchants’s 12-month average price target is 47.33.

What is FRME’s upside potential, based on the analysts’ average price target?

First Merchants has 21.92% upside potential, based on the analysts’ average price target.

Can I see which stocks the top-ranking analysts are rating?

Yes, go to the Analysts’ Top Stocks tool to see stocks with a Strong Buy or Strong Sell analyst rating consensus, according to the top performers.

How can I follow the stock ratings of top Wall Street analysts?

Head over to our Expert Center to see a list of the top 100 Wall Street analysts and follow the analysts of your choice. Visit their profiles for more details about their stock ratings and see how they perform on a stock-by-stock basis.

Is FRME a Buy, Sell or Hold?

First Merchants has a consensus rating of Moderate Buy which is based on 2 buy ratings, 2 hold ratings and 0 sell ratings.

What is First Merchants’s price target?

The average price target for First Merchants is 47.33. This is based on 4 Wall Streets Analysts 12-month price targets, issued in the past 3 months.
The highest analyst price target is $50.00 ,the lowest forecast is $46.00. The average price target represents 21.92% Increase from the current price of $38.82.

What do analysts say about First Merchants?

First Merchants’s analyst rating consensus is a Moderate Buy. This is based on the ratings of 4 Wall Streets Analysts.

How can I buy shares of FRME?

Open a brokerage account, see exclusive account opening deals on our Best Online Brokers page.

First Merchants (FRME) Stock Forecast & Price Target

FRME Analyst Ratings

FRME Stock 12 Month Forecast

Average Price Target

Detailed List of Analyst Forecasts​

Best Analysts Covering First Merchants

FRME Analyst Recommendation Trends

FRME Financial Forecast

FRME Earnings Forecast

FRME Sales Forecast

FRME Stock Forecast FAQ

Detailed List of Analyst Forecasts