First Merchants Co. (NASDAQ:FRMEP) Short Interest Down 98.9% in June

First Merchants Co. (NASDAQ:FRMEP) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 23 shares, a decrease of 98.9% from the May 31st total of 2,016 shares. Based on an average daily volume of 1,134 shares, the short-interest ratio is currently 0.0 days.

First Merchants Stock Performance

FRMEP stock traded down $0.11 during trading on Friday, reaching $25.60. The stock had a trading volume of 1,399 shares, compared to its average volume of 1,533. First Merchants has a 1-year low of $24.73 and a 1-year high of $27.09. The firm has a fifty day moving average price of $25.47 and a 200 day moving average price of $25.64.

First Merchants Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were issued a $0.4688 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Thursday, April 30th.

First Merchants Company Profile

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.