First Merchants Corporation (FRME) To Go Ex-Dividend on September 4th

First Merchants Corporation (NASDAQ:FRME) declared a quarterly dividend on Friday, August 14th. Shareholders of record on Friday, September 4th will be given a dividend of 0.37 per share by the bank on Friday, September 18th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, September 4th.

First Merchants has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 13 consecutive years. First Merchants has a payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Merchants to earn $4.45 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 33.3%.

First Merchants Trading Down 1.4%

NASDAQ FRME opened at $40.91 on Wednesday. First Merchants has a one year low of $34.66 and a one year high of $45.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $2.57 billion, a P/E ratio of 13.11 and a beta of 0.84. The stock’s 50-day moving average is $43.00 and its 200-day moving average is $40.96.

First Merchants (NASDAQ:FRME) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.28). The business had revenue of $202.49 million during the quarter, compared to analyst estimates of $202.78 million. First Merchants had a net margin of 17.05% and a return on equity of 8.86%. Sell-side analysts anticipate that First Merchants will post 3.94 earnings per share for the current fiscal year.

First Merchants Company Profile

First Merchants Corporation, through its subsidiary First Merchants Bank, offers a comprehensive suite of banking and financial services to individuals, businesses and public sector clients. The company’s core business activities include retail and commercial banking, lending, treasury and cash management, and wealth advisory services. With a focus on relationship banking, First Merchants seeks to deliver tailored solutions for deposit accounts, loan financing and other credit products.

On the consumer side, First Merchants provides checking and savings accounts, certificates of deposit, personal and mortgage loans, and electronic banking conveniences.