2 weeks Ago By Defense World Staff
Russell Investments Group Ltd. lowered its holdings in First Merchants Co. ( NASDAQ:FRME – Free Report ) by 17.
4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,519 shares of the bank’s stock after selling 6,659 shares during the quarter. Russell Investments Group Ltd.
owned 0.05% of First Merchants worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Other hedge funds and other institutional investors have also recently modified their holdings of the company.
Envestnet Asset Management Inc. boosted its holdings in shares of First Merchants by 3.0% during the 4th quarter.
Envestnet Asset Management Inc. now owns 177,640 shares of the bank’s stock valued at $7,086,000 after acquiring an additional 5,115 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in First Merchants by 3.
3% in the fourth quarter. Wells Fargo & Company MN now owns 199,296 shares of the bank’s stock worth $7,950,000 after purchasing an additional 6,390 shares during the last quarter. Trexquant Investment LP bought a new stake in First Merchants in the 4th quarter worth approximately $1,660,000.
Alliancebernstein L.P. raised its stake in First Merchants by 5.
6% during the 4th quarter. Alliancebernstein L.P.
now owns 68,157 shares of the bank’s stock valued at $2,719,000 after buying an additional 3,600 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of First Merchants in the 4th quarter worth $7,251,000. 73.
92% of the stock is owned by institutional investors. Analyst Ratings Changes FRME has been the subject of several research reports. Piper Sandler reaffirmed an “overweight” rating and set a $55.
00 price target (up previously from $52.00) on shares of First Merchants in a research report on Friday, January 31st. Raymond James cut 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 report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on First Merchants from $50.
00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Hovde Group upgraded First Merchants from a “market perform” rating to an “outperform” rating and set a $50.
00 target price on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.
com, First Merchants has an average rating of “Moderate Buy” and a consensus target price of $48.20. First Merchants Price Performance FRME opened at $35.
53 on Monday. The business has a fifty day moving average of $40.09 and a 200 day moving average of $40.
60. The stock has a market cap of $2.08 billion, a P/E ratio of 10.
39 and a beta of 0.95. The company has a quick ratio of 0.
89, a current ratio of 0.90 and a debt-to-equity ratio of 0.41.
First Merchants Co. has a 52-week low of $30.55 and a 52-week high of $46.
13. First Merchants ( NASDAQ:FRME – Get Free Report ) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $1.
00 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that First Merchants Co. will post 3.79 EPS for the current year.
First Merchants Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders 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 yield of 3.
94%. First Merchants’s dividend payout ratio (DPR) is presently 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. Recommended Stories Five stocks we like better than First Merchants Investing in Construction Stocks With a 60%+ Upside, There’s Plenty to Love About Lovesac How Can Retail Investors Trade the Toronto Stock Exchange (TSX)? J.
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