1 day Ago By ABMN Staff
Renaissance Technologies LLC acquired a new position in First Merchants Co. ( NASDAQ:FRME – Free Report ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,720 shares of the bank’s stock, valued at approximately $1,225,000.
A number of other institutional investors and hedge funds have also made changes to their positions in FRME. Federated Hermes Inc. purchased a new stake in shares of First Merchants in the 4th quarter worth approximately $37,000.
Nisa Investment Advisors LLC boosted its holdings in First Merchants by 139.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,289 shares of the bank’s stock worth $51,000 after acquiring an additional 750 shares in the last quarter.
Allworth Financial LP grew its stake in shares of First Merchants by 270.1% in the fourth quarter. Allworth Financial LP now owns 2,728 shares of the bank’s stock worth $109,000 after acquiring an additional 1,991 shares during the last quarter.
KBC Group NV increased its holdings in shares of First Merchants by 27.9% during the fourth quarter. KBC Group NV now owns 3,052 shares of the bank’s stock valued at $122,000 after acquiring an additional 665 shares in the last quarter.
Finally, Sciencast Management LP purchased a new position in shares of First Merchants in the 4th quarter worth about $203,000. Institutional investors own 73.92% of the company’s stock.
First Merchants Stock Up 0.8 % First Merchants stock opened at $35.91 on Wednesday.
The stock has a market cap of $2.10 billion, a PE ratio of 10.50 and a beta of 0.
95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.
89 and a current ratio of 0.90. The stock has a fifty day moving average of $38.
89 and a 200 day moving average of $40.56. First Merchants Co.
has a one year low of $30.55 and a one year high of $46.13.
First Merchants Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.35 dividend.
The ex-dividend date was Friday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.
90%. First Merchants’s dividend payout ratio (DPR) is 39.33%.
Analyst Ratings Changes A number of analysts have weighed in on FRME shares. Raymond James reduced their price objective on shares of First Merchants from $50.00 to $46.
00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price target on shares of First Merchants from $52.00 to $49.
00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Hovde Group raised First Merchants from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Friday, January 31st.
Finally, Piper Sandler reduced their target price on First Merchants from $55.00 to $49.00 and set an “overweight” rating for the company in a report on Monday.
Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Merchants has an average rating of “Moderate Buy” and a consensus price target of $46.
40. Read Our Latest Stock Analysis on First Merchants First Merchants Company Profile ( Free Report ) First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans.
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