First Merchants Corporation (NASDAQ: FRME) is -3.22% lower on its value in year-to-date trading and has touched a low of $34.07 and a high of $46.12 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The FRME stock was last observed hovering at around $39.22 in the last trading session, with the day’s gains setting it 1.32% off its average median price target of $49.00 for the next 12 months. It is also 22.04% off the consensus price target high of $52.00 offered by 6 analysts, but current levels are 11.87% higher than the price target low of $46.00 for the same period.
Currently trading at $40.54, the stock is 11.39% and 7.41% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.26 million and changing 3.37% at the moment leaves the stock -1.29% off its SMA200. FRME registered -0.10% loss for a year compared to 6-month loss of -8.30%.
The stock witnessed a 12.05% gain in the last 1 month and extending the period to 3 months gives it a 0.15%, and is 8.95% 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 2.41% over the week and 2.29% over the month.
First Merchants Corporation (FRME) has around 1821 employees, a market worth around $2.41B and $446.40M in sales. Current P/E ratio is 10.67 and Fwd P/E is 8.97. Profit margin for the company is 45.80%. Distance from 52-week low is 18.99% and -12.10% from its 52-week high. The company has generated returns on investments over the last 12 months (18.50%).
First Merchants Corporation (FRME) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for First Merchants Corporation (FRME) is a “Buy”. 6 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 6 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 10/27/2022.The EPS is expected to grow by 40.00% this year.
First Merchants Corporation (FRME) Top Institutional Holders
The shares outstanding are 53.41M, and float is at 52.76M with Short Float at 1.61%.
First Merchants Corporation (FRME) Insider Activity
A total of 35 insider transactions have happened at First Merchants Corporation (FRME) in the last six months, with sales accounting for 4 and purchases happening 31 times. The most recent transaction is an insider sale by Fehring Patrick J.,the company’sDirector. SEC filings show that Fehring Patrick J. sold 10,400 shares of the company’s common stock on May 20 at a price of $38.40 per share for a total of $0.4 million. Following the sale, the insider now owns 0.14 million shares.
First Merchants Corporation disclosed in a document filed with the SEC on May 19 that Fehring Patrick J. (Director) sold a total of 600 shares of the company’s common stock. The trade occurred on May 19 and was made at $39.01 per share for $23406.0. Following the transaction, the insider now directly holds 0.15 million shares of the FRME stock.
Still, SEC filings show that on May 18, Fehring Patrick J. (Director) disposed off 1,400 shares at an average price of $39.43 for $55202.0. The insider now directly holds 149,988 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 16.78% up over the past 12 months and Lakeland Financial Corporation (LKFN) that is 16.89% higher over the same period. Horizon Bancorp Inc. (HBNC) is 11.46% up on the 1-year trading charts.