First Merchants Co. (NASDAQ:FRMEP) Short Interest Down 56.3% in January

First Merchants Co. (NASDAQ:FRMEP) saw a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 1,708 shares, a drop of 56.3% from the January 15th total of 3,907 shares. Based on an average daily volume of 1,059 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 1,059 shares, the days-to-cover ratio is currently 1.6 days.

First Merchants Trading Up 1.0%

NASDAQ:FRMEP traded up $0.26 during trading hours on Friday, reaching $25.66. 1,700 shares of the company were exchanged, compared to its average volume of 1,152. The business has a 50 day moving average of $25.68 and a 200 day moving average of $25.68. First Merchants has a 1-year low of $24.15 and a 1-year high of $27.09.

First Merchants Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 16th. Investors of record on Friday, January 30th will be given a $0.4688 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.3%.

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.