First Merchants Co. (NASDAQ:FRMEP) Short Interest Up 29,069.6% in June

First Merchants Co. (NASDAQ:FRMEP) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 6,709 shares, an increase of 29,069.6% from the June 15th total of 23 shares. Based on an average daily trading volume, of 1,971 shares, the days-to-cover ratio is currently 3.4 days.

First Merchants Stock Performance

Shares of NASDAQ:FRMEP traded down $0.29 on Friday, hitting $25.51. The company’s stock had a trading volume of 199 shares, compared to its average volume of 1,493. The company has a 50-day simple moving average of $25.40 and a 200 day simple moving average of $25.64. First Merchants has a 1 year low of $24.73 and a 1 year high of $27.09.

First Merchants Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a dividend of $0.4688 per share. The ex-dividend date was Thursday, April 30th. This represents a $1.88 annualized dividend and a yield of 7.4%.

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.