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)302.53K
Market Cap
$2.59B
Enterprise Value$4.09B
Total Cash (Recent Filing)$1.47B
Total Debt (Recent Filing)$1.64B
Price to Earnings (P/E)12.6
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. Volume316,032
30 Day Avg. Volume302,526
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 Cap1.58
Enterprise Value/Revenue3.89
Enterprise Value/Gross Profit6.43
Enterprise Value/Ebitda16.71
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
Capital StrengthA CET1 ratio of 11.22% and ~9% tangible common equity provide a durable regulatory and economic buffer that supports lending capacity, buybacks and dividends. This capital flexibility allows management to pursue growth and return capital while meeting regulatory expectations over the next several quarters.
Acquisition-driven Scale ExpansionThe First Savings acquisition materially increases scale, deposits and branch footprint, enabling cross-sell, funding diversification and cost-synergy realization. Lower-than-expected tangible book dilution and an estimated ~2.4 year earn-back indicate accretive economics that strengthen core franchise durability.
Improving NII And Deposit MixQuarterly NII and NIM improvement paired with a meaningful rise in noninterest-bearing deposits indicate structural funding cost relief and higher core earning power. Sustained deposit mix improvement and redeployment into higher-yield commercial loans support net interest income over the next 2–6 months.
Bears Say
Free Cash Flow DeteriorationA dramatic year-over-year FCF decline signals volatility in internal cash generation and reduces financial flexibility. Even with positive absolute cash flow, the sharp negative growth can constrain capital returns, reinvestment and buffer for loan loss provisions during adverse cycles.
Rising LeverageA marked increase in leverage to a ~0.62 debt-to-equity ratio weakens the balance-sheet cushion and elevates sensitivity to funding stress or asset shocks. Higher leverage can limit strategic flexibility and put pressure on returns and capital ratios if earnings or asset quality weaken.
Concentrated Asset-quality RisksHigher net charge-offs and addition of an office nonaccrual, with concentration in multifamily construction and office CRE, create persistent credit-risk vulnerability. These exposures can drive elevated provisions and pressure capital and earnings over multiple quarters in a slow real estate environment.
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 $2.59B.
When is First Merchants’s upcoming earnings report date?
First Merchants’s upcoming earnings report date is Jul 28, 2026 which is in 47 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 $0.37 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 32.6K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Negative
Last 7 Days ▼ 1.0%
Last 30 Days ▼ 2.7%
Last 30 Days ▼ 2.7%
Technicals
SMA
Positive
20 days / 200 days
Momentum
13.07%
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 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
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
2.06% Insiders
23.35% Mutual Funds
14.94% Other Institutional Investors
37.48% Public Companies and
Individual Investors