2 weeks Ago By Defense World Staff
Geode Capital Management LLC reduced its stake in First Merchants Co. ( NASDAQ:FRME – Free Report ) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC).
The fund owned 1,392,259 shares of the bank’s stock after selling 8,562 shares during the period. Geode Capital Management LLC owned 2.37% of First Merchants worth $55,550,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of FRME. FMR LLC raised its holdings in First Merchants by 2,420.8% in the 3rd quarter.
FMR LLC now owns 78,194 shares of the bank’s stock valued at $2,909,000 after acquiring an additional 75,092 shares during the period. Stifel Financial Corp increased its stake in shares of First Merchants by 13.1% during the third quarter.
Stifel Financial Corp now owns 43,275 shares of the bank’s stock worth $1,610,000 after purchasing an additional 5,016 shares during the period. Jane Street Group LLC lifted its holdings in First Merchants by 0.7% during the 3rd quarter.
Jane Street Group LLC now owns 83,696 shares of the bank’s stock worth $3,113,000 after purchasing an additional 566 shares during the last quarter. Nomura Asset Management Co. Ltd.
boosted its stake in First Merchants by 108.3% in the 3rd quarter. Nomura Asset Management Co.
Ltd. now owns 750 shares of the bank’s stock valued at $28,000 after purchasing an additional 390 shares during the period. Finally, Barclays PLC grew its holdings in First Merchants by 89.
5% in the 3rd quarter. Barclays PLC now owns 112,290 shares of the bank’s stock valued at $4,176,000 after buying an additional 53,033 shares in the last quarter. 73.
92% of the stock is owned by institutional investors. Analyst Ratings Changes Several equities analysts recently commented on FRME shares. Keefe, Bruyette & Woods upped their price target on shares of First Merchants from $50.
00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Hovde Group raised shares of First Merchants from a “market perform” rating to an “outperform” rating and set a $50.
00 target price on the stock in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price target (up from $52.
00) on shares of First Merchants in a research note on Friday, January 31st. Finally, Raymond James dropped their price objective on First Merchants from $50.00 to $46.
00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Merchants has a consensus rating of “Moderate Buy” and a consensus price target of $48.
20. First Merchants Stock Performance Shares of NASDAQ:FRME opened at $34.13 on Monday.
First Merchants Co. has a 1 year low of $30.55 and a 1 year high of $46.
13. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 9.
98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.
41, a current ratio of 0.90 and a quick ratio of 0.89.
The company’s 50 day simple moving average is $41.05 and its 200 day simple moving average is $40.64.
First Merchants ( NASDAQ:FRME – Get Free Report ) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.
90 by $0.10. First Merchants had a return on equity of 9.
23% and a net margin of 18.76%. As a group, research analysts predict that First Merchants Co.
will post 3.79 EPS for the current fiscal year. First Merchants Announces Dividend The business also recently declared 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 of this dividend was Friday, March 7th.
This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.10%.
First Merchants’s payout ratio is currently 40.94%. First Merchants 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. Featured Articles Five stocks we like better than First Merchants Why Understanding Call Option Volume is Essential to Successful Options Trading Is McDonald’s Stock Serving a Value Meal to Investors? Canada Bond Market Holiday: How to Invest and Trade Walgreens Comeback? Private Equity Circling for a Buyout Expert Stock Trading Psychology Tips Coca-Cola Stock Looks Refreshing After the Relief Rally Receive News & Ratings for First Merchants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Merchants and related companies with MarketBeat.com's FREE daily email newsletter .
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