First Merchants Co. Plans Quarterly Dividend of $0.26 (NASDAQ:FRME)

First Merchants Co. (NASDAQ:FRME) declared a quarterly dividend on Thursday, November 7th, Zacks reports. Investors of record on Friday, December 6th will be given a dividend of 0.26 per share by the bank on Friday, December 20th. This represents a $1.04 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, December 5th.

FRME opened at $40.38 on Tuesday. First Merchants has a 12 month low of $32.49 and a 12 month high of $42.49. The business has a 50-day moving average of $39.98 and a two-hundred day moving average of $37.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.54 and a beta of 1.07.

First Merchants (NASDAQ:FRME) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.08. First Merchants had a net margin of 29.88% and a return on equity of 10.36%. The business had revenue of $111.05 million for the quarter, compared to analyst estimates of $109.87 million. Equities research analysts anticipate that First Merchants will post 3.32 earnings per share for the current year.

In other First Merchants news, Director Charles E. Schalliol sold 7,300 shares of First Merchants stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $37.98, for a total transaction of $277,254.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Stephan Fluhler sold 3,873 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $38.98, for a total transaction of $150,969.54. Insiders have sold 13,423 shares of company stock valued at $520,451 over the last 90 days. 1.30% of the stock is currently owned by insiders.

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Several equities analysts recently commented on the stock. BidaskClub raised shares of First Merchants from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Zacks Investment Research lowered shares of First Merchants from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, ValuEngine raised shares of First Merchants from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $42.60.

First Merchants Company Profile

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as rents safe deposit facilities.

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Dividend History for First Merchants (NASDAQ:FRME)

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