First Merchants Corp. (FRME)
NASDAQ:FRME
FRME Stock Chart & Stats
$38.15
-$0.07(-0.18%)
At close: 4:00 PM EST
$38.15
-$0.07(-0.18%)
Day’s Range― - ―
52-Week Range$33.13 - $43.22
Previous CloseN/A
Volume29.51K
Average Volume (3M)451.61K
Market Cap
$2.40B
Enterprise Value$3.33B
Total Cash (Recent Filing)$1.49B
Total Debt (Recent Filing)$999.93M
Price to Earnings (P/E)9.6
Beta0.82
Next Earnings
Apr 28, 2026EPS Estimate
0.89Next Dividend Ex-DateN/A
Dividend Yield3.72%
Share Statistics
EPS (TTM)0.99
Shares Outstanding63,392,750
10 Day Avg. Volume463,948
30 Day Avg. Volume451,614
Financial Highlights & Ratios
PEG Ratio0.68
Price to Book (P/B)0.88
Price to Sales (P/S)2.06
P/FCF Ratio7.63
Enterprise Value/Market Cap1.39
Enterprise Value/Revenue3.17
Enterprise Value/Gross Profit5.20
Enterprise Value/Ebitda11.56
Forecast
1Y Price Target
$46.50Price Target Upside21.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)4.11
Revenue Forecast (FY)$803.93M
Bulls Say, Bears Say
Bulls Say
Cash GenerationConsistent, high-quality free cash flow and full conversion of net income to FCF provide durable internal funding for dividends, buybacks, loan growth and integration costs. Over the next 2–6 months this underpins capital flexibility and reduces dependence on external funding when deploying strategic initiatives.
Balance Sheet / Capital StrengthLower leverage and steady equity growth alongside mid-teens tangible returns provide a structural cushion against shocks and room to support organic growth, M&A and buybacks. Strong capital metrics increase regulatory headroom and help maintain lending capacity through rate/credit cycles over coming months.
Scale Via Strategic AcquisitionThe First Savings deal materially increases scale, geographic reach and product diversity (SBA, single-tenant net lease platforms), enabling fee diversification and cost synergies. Realizing 27.5% annualized savings will sustainably boost efficiency and earnings power once integration is complete in 2026.
Bears Say
Cooling Revenue GrowthSlowing top-line momentum reduces operating leverage and makes near-term EPS reliant on margin management and cost saves. If revenue stagnation persists beyond 2–6 months, it limits the bank’s ability to grow net income organically and raises pressure to deliver acquisition synergies or fee gains to offset.
Margin Pressure / Deposit RepricingCore NIM compression and large near-term CD maturities create structural funding-cost risk. Higher-cost deposit rolloffs and required re-pricing can erode net interest income over the coming months, constraining the bank's primary earnings lever and forcing sharper reliance on fee growth or cost cuts.
Asset Quality PressureElevated charge-offs, rising nonaccruals and concentrated CRE/office maturities signal persistent asset-quality risk. Over 2–6 months this can increase provision expense, compress capital cushions and offset earnings, particularly if macro or sector-specific stress (multifamily construction, office) intensifies post-acquisition.
First Merchants News
FRME FAQ
What was First Merchants Corp.’s price range in the past 12 months?
First Merchants Corp. lowest stock price was $33.13 and its highest was $43.22 in the past 12 months.
What is First Merchants Corp.’s market cap?
First Merchants Corp.’s market cap is $2.40B.
When is First Merchants Corp.’s upcoming earnings report date?
First Merchants Corp.’s upcoming earnings report date is Apr 28, 2026 which is in 28 days.
How were First Merchants Corp.’s earnings last quarter?
First Merchants Corp. released its earnings results on Jan 26, 2026. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.952 by $0.038.
Is First Merchants Corp. overvalued?
According to Wall Street analysts First Merchants Corp.’s price is currently Undervalued.
Does First Merchants Corp. pay dividends?
First Merchants Corp. pays a Quarterly dividend of $0.36 which represents an annual dividend yield of 3.72%. See more information on First Merchants Corp. dividends here
What is First Merchants Corp.’s EPS estimate?
First Merchants Corp.’s EPS estimate is 0.89.
How many shares outstanding does First Merchants Corp. have?
First Merchants Corp. has 63,392,750 shares outstanding.
What happened to First Merchants Corp.’s price movement after its last earnings report?
First Merchants Corp. reported an EPS of $0.99 in its last earnings report, beating expectations of $0.952. Following the earnings report the stock price went up 0.473%.
Which hedge fund is a major shareholder of First Merchants Corp.?
Currently, no hedge funds are holding shares in FRME
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
First Merchants Stock Smart Score
Underperform
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10
Analyst Consensus
Moderate Buy
Average Price Target:
$46.50 (21.89% Upside)
$46.50 (21.89% Upside)
Blogger Sentiment
Bullish
FRME Sentiment 66%
Sector Average 68%
Sector Average 68%
Hedge Fund Trend
Decreased
By 58.0K Shares
Last Quarter.
Last Quarter.
Insider Transactions
Sold Shares
Worth $518.6K over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Very Negative
Last 7 Days ▼ 0.7%
Last 30 Days ▼ 3.1%
Last 30 Days ▼ 3.1%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-4.24%
12-Months-Change
Fundamentals
Return on Equity
9.46%
Trailing 12-Months
Asset Growth
3.89%
Trailing 12-Months
Company Description
First Merchants Corp.
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. It operates 109 banking locations in Indiana, Illinois, Ohio, and Michigan counties. The company also offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.
FRME Company Deck
FRME Earnings Call
Q4 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call conveyed strong positive operational and financial momentum: record assets, loans, deposits, net income and EPS; robust loan and deposit growth; margin and fee income gains; solid capital ratios; and an accretive acquisition with planned cost synergies. Headwinds were noted but appear manageable: modest margin compression from rate cuts, a limited number of credit charge-offs and new nonaccruals, some short-term expense and integration costs, and a higher-cost mix of certain deposits. Management provided a constructive 2026 outlook (mid- to high-single-digit loan growth, double-digit fee income growth target, continued buybacks) and emphasized confidence in asset quality and capital positions. Overall, positives materially outweighed the setbacks discussed.View all FRME earnings summariesFRME Stock 12 Month Forecast
Average Price Target
$46.50
▲(21.89% Upside)
Technical Analysis
Ownership Overview
2.09% Insiders
24.26% Mutual Funds
17.70% Other Institutional Investors
35.30% Public Companies and
Individual Investors