First Merchants Co. (NASDAQ:FRME) Plans Quarterly Dividend of $0.26
First Merchants Co. (NASDAQ:FRME) declared a quarterly dividend on Thursday, November 7th, Zacks reports. Investors of record on Friday, December 6th will be paid a dividend of 0.26 per share by the bank on Friday, December 20th. This represents a $1.04 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, December 5th.
NASDAQ FRME traded down $0.72 on Tuesday, hitting $39.66. 105 shares of the company were exchanged, compared to its average volume of 140,335. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.87. First Merchants has a twelve month low of $32.49 and a twelve month high of $42.49. The firm has a market capitalization of $2.26 billion, a P/E ratio of 12.32 and a beta of 1.07. The company’s 50 day moving average price is $39.98 and its 200-day moving average price is $37.51.
First Merchants (NASDAQ:FRME) last announced its earnings results on Thursday, October 24th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08. The company had revenue of $111.05 million during the quarter, compared to analysts’ expectations of $109.87 million. First Merchants had a net margin of 29.88% and a return on equity of 10.36%. As a group, equities analysts expect that First Merchants will post 3.32 EPS for the current year.
Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of First Merchants from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. ValuEngine upgraded shares of First Merchants from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, BidaskClub raised shares of First Merchants from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. First Merchants currently 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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