First Merchants Corp. (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)415.29K
Market Cap
$2.51B
Enterprise Value$2.42B
Total Cash (Recent Filing)$1.49B
Total Debt (Recent Filing)$999.93M
Price to Earnings (P/E)21.0
Beta0.83
Next Earnings
Jul 23, 2026EPS Estimate
1.03Next Dividend Ex-DateN/A
Dividend Yield3.72%
Share Statistics
EPS (TTM)0.45
Shares Outstanding63,325,780
10 Day Avg. Volume362,943
30 Day Avg. Volume415,293
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 Cap0.96
Enterprise Value/Revenue2.30
Enterprise Value/Gross Profit3.77
Enterprise Value/Ebitda8.37
Forecast
1Y Price Target
$47.67Price Target Upside15.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)4.11
Revenue Forecast (FY)$803.21M
Bulls Say, Bears Say
Bulls Say
Capital StrengthAn 11.22% CET1 ratio and roughly 9% tangible common equity provide a durable loss-absorbing buffer, allowing the bank to sustain dividends, buybacks and opportunistic growth without immediate capital raises. Strong capital supports credit stress absorption and regulatory flexibility over quarters.
Cash GenerationConsistent free cash flow matching net income indicates superior cash conversion and recurring internal funding. That reliability funds dividends, share repurchases and loan growth, reduces dependence on wholesale funding, and strengthens financial flexibility across multi-quarter horizons.
Scale And IntegrationClosing the First Savings deal expands scale, deposits and lending capacity, improving market position in the Midwest. Faster-than-expected earn-back and on-track integration increase cross-sell opportunities and cost-synergy prospects, enhancing durable revenue diversification and efficiency potential.
Bears Say
Slowing Revenue GrowthTop-line momentum has decelerated to roughly flat year-on-year, limiting operating leverage. With revenue growth slowed, earnings expansion becomes more dependent on margin recovery and cost synergies, constraining long-term EPS growth unless loan growth or fee income accelerates.
Mortgage MTM And Redeployment LagA $29.8M mark-to-market loss from repositioning mortgages reduces tangible book and creates a multi-year earn-back timeline. Proceeds are being used to pay down higher-cost deposits and will only be redeployed gradually, so meaningful NIM and earnings benefits are delayed, pressuring near-term capital accretion.
Asset-Quality ConcentrationRecent net charge-offs and the addition of a ~$12M nonaccrual office loan highlight concentrated exposures in income-producing CRE (multifamily construction and office). Such concentrations increase the risk of higher provisions or write-downs under adverse local CRE conditions, pressuring capital and earnings.
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 $34.66 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 $2.51B.
When is First Merchants Corp.’s upcoming earnings report date?
First Merchants Corp.’s upcoming earnings report date is Jul 23, 2026 which is in 90 days.
How were First Merchants Corp.’s earnings last quarter?
First Merchants Corp. 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 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 1.03.
How many shares outstanding does First Merchants Corp. have?
First Merchants Corp. has 63,325,780 shares outstanding.
What happened to First Merchants Corp.’s price movement after its last earnings report?
First Merchants Corp. 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 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
Neutral
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Analyst Consensus
Moderate Buy
Average Price Target:
$47.67 (15.86% Upside)
$47.67 (15.86% Upside)
Blogger Sentiment
Bullish
FRME Sentiment 67%
Sector Average ―
Sector Average ―
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 ▼ 1.0%
Last 30 Days ▼ 3.2%
Last 30 Days ▼ 3.2%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
20.21%
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
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
$47.67
▲(15.86% Upside)
Technical Analysis
Ownership Overview
2.09% Insiders
24.26% Mutual Funds
17.70% Other Institutional Investors
35.30% Public Companies and
Individual Investors