Media headlines about First Merchants Corporation (NASDAQ:FRME) have trended positive recently, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. First Merchants Corporation earned a daily sentiment score of 0.50 on Accern’s scale. Accern also assigned headlines about the bank an impact score of 0 out of 100, indicating that recent press coverage is extremely unlikely to have an impact on the company’s share price in the next few days.
These are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- First Merchants Corporation to Report Second Quarter 2017 Financial Results, Host Conference Call and Web Cast (finance.yahoo.com)
- BidaskClub Upgrades First Merchants Corporation (NASDAQ:FRME) to “Hold” (americanbankingnews.com)
- First Merchants Corp. (Indiana) breached its 50 day moving average in a Bullish Manner : FRME-US : July 4, 2017 (finance.yahoo.com)
- First Merchants Corporation (NASDAQ:FRME) Rating Increased to Hold at Zacks Investment Research (americanbankingnews.com)
Several analysts recently commented on the stock. BidaskClub upgraded shares of First Merchants Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of First Merchants Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $44.00 price objective on shares of First Merchants Corporation in a research note on Wednesday, April 5th. Finally, ValuEngine upgraded shares of First Merchants Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. First Merchants Corporation has a consensus rating of “Buy” and a consensus price target of $36.50.
Shares of First Merchants Corporation (NASDAQ:FRME) traded down 0.71% during trading on Monday, reaching $40.50. 15,399 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.66 billion, a PE ratio of 19.19 and a beta of 0.93. First Merchants Corporation has a 52 week low of $24.58 and a 52 week high of $43.48. The company’s 50-day moving average price is $40.51 and its 200 day moving average price is $39.39.
First Merchants Corporation (NASDAQ:FRME) last issued its quarterly earnings data on Thursday, April 27th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. The company had revenue of $75.85 million during the quarter, compared to analysts’ expectations of $76.65 million. First Merchants Corporation had a return on equity of 9.57% and a net margin of 26.67%. Analysts predict that First Merchants Corporation will post $2.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were paid a $0.18 dividend. The ex-dividend date was Wednesday, May 31st. This is a positive change from First Merchants Corporation’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.77%. First Merchants Corporation’s dividend payout ratio (DPR) is 34.12%.
In other news, Director Terry L. Walker sold 1,221 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $42.30, for a total value of $51,648.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders bought 93 shares of company stock valued at $3,810. 1.41% of the stock is currently owned by corporate insiders.
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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).
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