First Merchants Corporation (FRME) Earning Somewhat Favorable Media Coverage, Analysis Finds

Press coverage about First Merchants Corporation (NASDAQ:FRME) has been trending somewhat positive this week, Accern Sentiment Analysis reports. Accern identifies negative and positive news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. First Merchants Corporation earned a coverage optimism score of 0.08 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 45.9091172747483 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:

FRME has been the subject of a number of research reports. Zacks Investment Research raised shares of First Merchants Corporation from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Monday, October 30th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $47.00 price objective on shares of First Merchants Corporation in a report on Sunday, October 29th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of First Merchants Corporation in a report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of First Merchants Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $47.33.

Shares of First Merchants Corporation (NASDAQ FRME) traded down $0.32 on Thursday, hitting $40.52. 148,670 shares of the stock traded hands, compared to its average volume of 194,678. First Merchants Corporation has a 52 week low of $32.36 and a 52 week high of $44.36. The firm has a market capitalization of $2,001.58, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 2.53 and a beta of 0.92. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43.

First Merchants Corporation (NASDAQ:FRME) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.05). First Merchants Corporation had a net margin of 26.28% and a return on equity of 9.56%. The firm had revenue of $93.09 million for the quarter, compared to analyst estimates of $97.45 million. equities analysts expect that First Merchants Corporation will post 2.3 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 30th. First Merchants Corporation’s dividend payout ratio (DPR) is 33.03%.

In other news, insider Mark K. Hardwick sold 4,301 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $42.61, for a total transaction of $183,265.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have bought 66 shares of company stock valued at $2,681. Corporate insiders own 1.41% of the company’s stock.

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First Merchants Corporation Company Profile

First Merchants Corporation is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. It operates through community banking business segment. The Bank also operates Lafayette Bank and Trust, and First Merchants Private Wealth Advisors (each as a division of First Merchants Bank).

Insider Buying and Selling by Quarter for First Merchants Corporation (NASDAQ:FRME)

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