First Merchants Co. (NASDAQ:FRMEP) Short Interest Update

First Merchants Co. (NASDAQ:FRMEP) was the target of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 304 shares, a decrease of 71.1% from the April 15th total of 1,051 shares. Based on an average daily volume of 812 shares, the short-interest ratio is presently 0.4 days.

First Merchants Trading Down 0.4%

FRMEP stock traded down $0.11 during midday trading on Friday, reaching $25.16. 494 shares of the company traded hands, compared to its average volume of 1,378. First Merchants has a 52-week low of $24.73 and a 52-week high of $27.09. The business has a 50 day moving average of $25.79 and a 200-day moving average of $25.79.

First Merchants Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be issued a $0.4688 dividend. This represents a $1.88 annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Thursday, April 30th.

About First Merchants

First Merchants Corporation (NASDAQ: FRMEP) is a bank holding company headquartered in Muncie, Indiana, offering a full suite of financial services through its subsidiary, First Merchants Bank. The company provides consumer and commercial banking products, including checking and savings accounts, business and real estate loans, treasury management, and digital banking solutions. First Merchants also offers mortgage origination, wealth management, trust services, and insurance brokerage through dedicated teams.

Incorporated in 1983, First Merchants traces its roots to Merchant’s National Bank of Muncie, which was founded in 1893.