First Merchants Corporation (NASDAQ:FRME) insider Mark K. Hardwick sold 4,301 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $42.61, for a total value of $183,265.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of First Merchants Corporation (NASDAQ FRME) opened at $40.32 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.43. First Merchants Corporation has a 1-year low of $26.55 and a 1-year high of $44.36. The company has a market cap of $1,987.82, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.51 and a beta of 0.92.

First Merchants Corporation (NASDAQ:FRME) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.05). First Merchants Corporation had a return on equity of 10.38% and a net margin of 26.28%. The company had revenue of $93.09 million during the quarter, compared to analysts’ expectations of $97.45 million. equities analysts anticipate that First Merchants Corporation will post 2.3 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on the company. Zacks Investment Research cut First Merchants Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $47.00 price objective on shares of First Merchants Corporation in a research note on Sunday, October 29th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $46.00 price objective on shares of First Merchants Corporation in a research note on Friday, October 6th. Finally, BidaskClub cut First Merchants Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.33.

Several hedge funds have recently modified their holdings of FRME. Wells Fargo & Company MN boosted its holdings in First Merchants Corporation by 5.9% in the 3rd quarter. Wells Fargo & Company MN now owns 286,338 shares of the bank’s stock worth $12,292,000 after buying an additional 15,855 shares during the period. Citadel Advisors LLC raised its position in shares of First Merchants Corporation by 325.6% during the 3rd quarter. Citadel Advisors LLC now owns 48,441 shares of the bank’s stock valued at $2,079,000 after buying an additional 37,059 shares in the last quarter. Schroder Investment Management Group raised its position in shares of First Merchants Corporation by 10.7% during the 3rd quarter. Schroder Investment Management Group now owns 326,662 shares of the bank’s stock valued at $13,968,000 after buying an additional 31,617 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of First Merchants Corporation during the 3rd quarter valued at about $243,000. Finally, Nordea Investment Management AB raised its position in shares of First Merchants Corporation by 4.6% during the 3rd quarter. Nordea Investment Management AB now owns 276,970 shares of the bank’s stock valued at $11,890,000 after buying an additional 12,198 shares in the last quarter. 67.75% of the stock is owned by hedge funds and other institutional investors.

About First Merchants Corporation

First Merchants Corporation is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. It operates through community banking business segment. The Bank also operates Lafayette Bank and Trust, and First Merchants Private Wealth Advisors (each as a division of First Merchants Bank).

Insider Buying and Selling by Quarter for First Merchants Corporation (NASDAQ:FRME)

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