First Merchants (FRME)
NASDAQ:FRME
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FRME Stock Chart & Stats
$41.14
-$0.07(-0.18%)
At close: 4:00 PM EST
$41.14
-$0.07(-0.18%)
Day’s Range― - ―
52-Week Range$34.66 - $43.22
Previous CloseN/A
Volume29.51K
Average Volume (3M)342.39K
Market Cap
$2.49B
Enterprise Value$4.04B
Total Cash (Recent Filing)$1.47B
Total Debt (Recent Filing)$1.64B
Price to Earnings (P/E)21.0
Beta0.83
Next Earnings
Jul 28, 2026EPS Estimate
1.02Next Dividend Ex-DateN/A
Dividend Yield3.72%
Share Statistics
EPS (TTM)3.42
Shares Outstanding63,022,740
10 Day Avg. Volume300,867
30 Day Avg. Volume342,394
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 Cap1.62
Enterprise Value/Revenue3.84
Enterprise Value/Gross Profit6.36
Enterprise Value/Ebitda16.53
Forecast
1Y Price Target
$49.50Price Target Upside20.32% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)3.88
Revenue Forecast (FY)$803.74M
Bulls Say, Bears Say
Bulls Say
Scale And Branch Network ExpansionThe acquisition materially increased scale and branch footprint, boosting deposit and loan capacity across the Midwest. Greater scale supports diversified revenue sources, improved funding depth, and potential cost synergies that strengthen competitive position over the next 2–6 months.
Steady Revenue Growth With Healthy MarginsConsistent TTM revenue growth and resilient operating margins indicate a durable business model with fee and interest drivers intact. This underlying profitability provides operating leverage to absorb integration costs and supports sustainable earnings generation over the medium term.
Improving Deposit Mix And Lower Funding CostsLower deposit costs and a higher share of noninterest-bearing balances increase funding stability and reduce margin sensitivity to competitive markets. This structural improvement strengthens NII resilience and creates room to redeploy liquidity into higher-yielding commercial loans over time.
Bears Say
Rising LeverageThe material step-up in debt-to-equity reduces balance-sheet flexibility and increases sensitivity to credit and interest-rate shocks. Persistently higher leverage can constrain capital actions, elevate regulatory scrutiny, and limit the bank's ability to absorb future losses or pursue growth without boosting equity.
Deteriorating Free Cash Flow TrendA large YoY decline in free cash flow growth signals volatility in cash generation that can impair funding flexibility. Over a multi-month horizon this increases risk to dividend/buyback sustainability and leaves less internal capital available to fund loan growth or absorb credit deterioration.
Concentrated CRE Credit StressConcentration in office and multifamily construction exposures raises vulnerability to cyclical real-estate dislocations. If macro or local market conditions worsen, these stressed pockets could drive higher provisions and nonaccruals, pressuring earnings and capital over the medium term.
First Merchants News
FRME FAQ
What was First Merchants’s price range in the past 12 months?
First Merchants lowest stock price was $34.66 and its highest was $43.22 in the past 12 months.
What is First Merchants’s market cap?
First Merchants’s market cap is $2.49B.
When is First Merchants’s upcoming earnings report date?
First Merchants’s upcoming earnings report date is Jul 28, 2026 which is in 69 days.
How were First Merchants’s earnings last quarter?
First Merchants released its earnings results on Apr 22, 2026. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.887 by -$0.437.
Is First Merchants overvalued?
According to Wall Street analysts First Merchants’s price is currently Undervalued.
Does First Merchants pay dividends?
First Merchants pays a Quarterly dividend of $0.36 which represents an annual dividend yield of 3.72%. See more information on First Merchants dividends here
What is First Merchants’s EPS estimate?
First Merchants’s EPS estimate is 1.02.
How many shares outstanding does First Merchants have?
First Merchants has 63,022,740 shares outstanding.
What happened to First Merchants’s price movement after its last earnings report?
First Merchants reported an EPS of $0.45 in its last earnings report, missing expectations of $0.887. Following the earnings report the stock price went down -1.66%.
Which hedge fund is a major shareholder of First Merchants?
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
Neutral
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Analyst Consensus
Moderate Buy
Average Price Target:
$49.50 (20.32% Upside)
$49.50 (20.32% Upside)
Blogger Sentiment
Bullish
FRME Sentiment 70%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Decreased
By 58.0K Shares
Last Quarter.
Last Quarter.
Insider Transactions
Sold Shares
Worth $207.5K over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Very Negative
Last 7 Days ▼ 1.0%
Last 30 Days ▼ 6.2%
Last 30 Days ▼ 6.2%
News Sentiment
Very Bullish
Bullish news 99%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
4.43%
12-Months-Change
Fundamentals
Return on Equity
8.03%
Trailing 12-Months
Asset Growth
14.28%
Trailing 12-Months
Company Description
First Merchants
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
Q1 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call conveyed constructive momentum: core revenue and margin trends improved, acquisition integration is progressing with less dilution than expected, deposit mix and NII rose, and asset quality is described as contained. Negative items were largely one-time or transitional (acquisition expenses, a mortgage MTM charge, and a few idiosyncratic charge-offs), and management articulated clear actions and timelines for liquidity redeployment and cost synergies. Balanced against manageable credit items and temporary mark losses, the positive operating and capital developments outweigh the lowlights.View all FRME earnings summariesFRME Stock 12 Month Forecast
Average Price Target
$49.50
▲(20.32% Upside)
Technical Analysis
Ownership Overview
2.10% Insiders
24.43% Mutual Funds
14.93% Other Institutional Investors
36.63% Public Companies and
Individual Investors