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

First Merchants Co. (NASDAQ:FRMEP) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 1,818 shares, an increase of 498.0% from the April 30th total of 304 shares. Based on an average daily trading volume, of 2,571 shares, the short-interest ratio is presently 0.7 days.

First Merchants Price Performance

FRMEP stock traded up $0.22 during midday trading on Thursday, reaching $25.32. The company had a trading volume of 223 shares, compared to its average volume of 1,345. First Merchants has a 1 year low of $24.73 and a 1 year high of $27.09. The firm has a 50-day moving average price of $25.68 and a 200-day moving average price of $25.73.

First Merchants Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a $0.4688 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was 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.