255 institutions hold shares in First Merchants Corporation (FRME), with 720.82k shares held by insiders accounting for 1.34% while institutional investors hold 75.97% of the company’s shares. The shares outstanding are 53.90M, and float is at 53.19M with Short Float at 1.36%. Institutions hold 74.95% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 5.03 million shares valued at $188.17 million. The investor’s holdings represent 9.25% of the FRME Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 3.93 million shares valued at $147.2 million to account for 7.24% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 2.8 million shares representing 5.14% and valued at over $104.6 million, while Earnest Partners LLC holds 5.07% of the shares totaling 2.76 million with a market value of $103.17 million.
First Merchants Corporation (NASDAQ: FRME) is 24.78% higher on its value in year-to-date trading and has touched a low of $21.18 and a high of $50.65 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FRME stock was last observed hovering at around $46.78 in the last trading session, with the day’s loss setting it -0.1% off its average median price target of $53.00 for the next 12 months. It is also 15.13% off the consensus price target high of $55.00 offered by 6 analysts, but current levels are 4.73% higher than the price target low of $49.00 for the same period.
Currently trading at $46.68, the stock is 0.37% and 1.25% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.22 million and changing -0.21% at the moment leaves the stock 35.38% off its SMA200. FRME registered 58.51% gain for a year compared to 6-month gain of 76.15%. The firm has a 50-day simple moving average (SMA 50) of $47.00 and a 200-day simple moving average (SMA200) of $38.85.
The stock witnessed a -1.39% loss in the last 1 month and extending the period to 3 months gives it a 20.43%, and is 3.64% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.25% over the week and 3.47% over the month.
First Merchants Corporation (FRME) has around 1907 employees, a market worth around $2.42B and $438.50M in sales. Current P/E ratio is 15.40 and Fwd P/E is 13.96. Profit margin for the company is 34.50%. Distance from 52-week low is 120.40% and -7.84% from its 52-week high. The company has generated returns on investments over the last 12 months (18.00%).
First Merchants Corporation (FRME) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for First Merchants Corporation (FRME) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.20, where 2 rate it as a Hold and 1 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
First Merchants Corporation is expected to release its quarterly report on 07/29/2021 and quarterly earnings per share for the current quarter are estimated at $0.86 with sales reaching $132.11M over the same period.The EPS is expected to shrink by -14.80% this year, but quarterly earnings will post 6.40% year-over-year. Quarterly sales are estimated to grow 9.80% in year-over-year returns.
First Merchants Corporation (FRME) Insider Activity
A total of 53 insider transactions have happened at First Merchants Corporation (FRME) in the last six months, with sales accounting for 5 and purchases happening 48 times. The most recent transaction is an insider purchase by Sherman Patrick A, the company’s Director. SEC filings show that Sherman Patrick A bought 11 shares of the company’s common stock on Apr 01 at a price of $47.07 per share for a total of $500.0. Following the purchase, the insider now owns 47923.0 shares.
First Merchants Corporation disclosed in a document filed with the SEC on Mar 18 that Marhenke Michael C (Director) sold a total of 9,000 shares of the company’s common stock. The trade occurred on Mar 18 and was made at $50.00 per share for $0.45 million. Following the transaction, the insider now directly holds 27023.0 shares of the FRME stock.
Still, SEC filings show that on Mar 18, Lehman Gary (Director) disposed off 3,000 shares at an average price of $48.38 for $0.15 million. The insider now directly holds 42,289 shares of First Merchants Corporation (FRME).
First Merchants Corporation (FRME): Who are the competitors?
The company’s main competitors (and peers) include First Financial Corporation (THFF) that is trading 20.45% up over the past 12 months. Horizon Bancorp Inc. (HBNC) is 53.32% up on the 1-year trading charts. Short interest in the company’s stock has risen 6.75% from the last report on Apr 14, 2021 to stand at a total of 0.72 million short shares sold with a short interest ratio of 4.42.