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FRME Stock Chart & Stats
$43.18
-$0.51(-1.18%)
At close: 4:00 PM EDT
$43.18
-$0.51(-1.18%)
Day’s Range― - ―
52-Week Range$34.66 - $45.33
Previous Close$42.67
Volume599.76K
Average Volume (3M)495.36K
Market Cap
$2.73B
Enterprise Value$4.28K
Total Cash (Recent Filing)$1.47B
Total Debt (Recent Filing)$1.64B
Price to Earnings (P/E)13.9
Beta0.85
Next Earnings
Oct 27, 2026EPS Estimate
1.04Next Dividend Ex-DateN/A
Dividend Yield3.35%
Share Statistics
EPS (TTM)3.42
Shares Outstanding63,022,740
10 Day Avg. Volume556,837
30 Day Avg. Volume495,363
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$50.50Price Target Upside16.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)3.46
Revenue Forecast (FY)$807.16M
Bulls Say, Bears Say
Bulls Say
Franchise Scale & Geographic ExpansionCompleted First Savings integration expanded branch footprint and balance-sheet scale across Indiana, Ohio and Michigan. Larger deposit and branch network improves funding diversity, cross-sell opportunities and cost-synergy realization, supporting durable revenue growth and franchise value over time.
Strong Loan Production And Yield DisciplineConsistent loan origination and rising loan yields reflect disciplined asset redeployment of bond rolloffs and mortgage-sale proceeds into higher-yielding loans. Since net interest income is the primary earnings driver, sustained production and yield discipline underpin longer-term NII stability and margin resilience.
Capital Adequacy And Active Capital ReturnsTangible common equity near 9% alongside an explicit $100M repurchase authorization signals capital adequacy and management confidence. The ability to return capital while supporting growth indicates disciplined allocation, preserving regulatory cushions and enhancing long-term shareholder value if maintained.
Bears Say
Specific Credit Deterioration And Large ProvisionConcentrated credit failures required sizeable specific reserves and placement of two commercial credits on nonaccrual, prompting management to raise full-year net charge-off guidance to ~40–45 bps. Persistent concentration risk can depress earnings, strain capital, and require prolonged remediation to restore credit stability.
Step-up In Leverage Versus Prior YearA notable rise in debt-to-equity reduces financial flexibility and amplifies sensitivity to funding and credit stress. Higher leverage can increase interest expense exposure and constrain the bank's capacity to absorb losses or pursue opportunistic growth without additional capital, raising medium-term risk.
Deteriorating Free Cash Flow MomentumAlthough absolute operating cash flow and FCF are positive (~$281M), a -109.6% FCF growth swing signals volatile cash generation. Reduced cash-flow momentum undermines predictability for dividends, buybacks and loan-funding, and raises questions about sustainability of current capital returns if weakness continues.
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 $45.33 in the past 12 months.
What is First Merchants’s market cap?
First Merchants’s market cap is $2.73B.
When is First Merchants’s upcoming earnings report date?
First Merchants’s upcoming earnings report date is Oct 27, 2026 which is in 87 days.
How were First Merchants’s earnings last quarter?
First Merchants released its earnings results on Jul 22, 2026. The company reported $0.7 earnings per share for the quarter, missing the consensus estimate of $1.022 by -$0.322.
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 $0.37 which represents an annual dividend yield of 3.35%. See more information on First Merchants dividends here
What is First Merchants’s EPS estimate?
First Merchants’s EPS estimate is 1.04.
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 $0.7 in its last earnings report, missing expectations of $1.022. Following the earnings report the stock price went down -4.251%.
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:
$50.50 (16.95% Upside)
$50.50 (16.95% Upside)
Blogger Sentiment
Bullish
FRME Sentiment 100%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Decreased
By 32.6K Shares
Last Quarter.
Last Quarter.
Insider Transactions
Sold Shares
Worth $835.0K over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Very Negative
Last 7 Days ▼ 1.1%
Last 30 Days ▼ 2.9%
Last 30 Days ▼ 2.9%
News Sentiment
Neutral
Bullish news 50%
Bearish news 50%
Bearish news 50%
Technicals
SMA
Positive
20 days / 200 days
Momentum
11.24%
12-Months-Change
Fundamentals
Return on Equity
3.35%
Trailing 12-Months
Asset Growth
14.82%
Trailing 12-Months
Company Description
First Merchants
First Merchants Corporation operates as a financial holding entity, primarily conducting its business through its subsidiary, First Merchants Bank. This institution delivers a full spectrum of community banking solutions. It accepts various types of deposits, including term, savings, and checking accounts. The company also extends a wide array of lending products, such as consumer, commercial, agricultural business, and real estate mortgage loans, in addition to public finance options. Beyond standard banking, First Merchants provides personal and corporate trust services, brokerage capabilities, and private wealth management. Its corporate offerings further include letters of credit, repurchase agreements, and other specialized financial services. The company maintains a network of 109 physical banking locations situated across counties in Indiana, Illinois, Ohio, and Michigan. Furthermore, it offers convenient access to its services via electronic and mobile platforms. First Merchants Corporation was established in 1893 and is headquartered in Muncie, Indiana.
FRME Company Deck
FRME Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Neutral
The call presented a mix of solid operational momentum — including NIM expansion, strong loan production, revenue growth, successful integration of First Savings, improved liquidity, and resumed buybacks — alongside material, relationship-specific credit deterioration that required a sizeable provision and is expected to drive higher net charge-offs for 2026. Management characterized the credit issues as isolated and the broader portfolio as performing within expectations. Given the meaningful positive trends in revenue, margins, balance sheet repositioning and capital return capacity, but balanced by the notable near-term credit headwinds and increased NPAs/classified loans, the overall tone is balanced with cautious optimism.View all FRME earnings summariesFRME Stock 12 Month Forecast
Average Price Target
$50.50
▲(16.95% Upside)
Technical Analysis
Ownership Overview
2.04% Insiders
23.92% Mutual Funds
0.82% Other Institutional Investors
49.88% Public Companies and
Individual Investors