1 week Ago By ABMN Staff
Geode Capital Management LLC lowered its holdings in shares of First Merchants Co. ( NASDAQ:FRME – Free Report ) by 0.6% in the 4th quarter, Holdings Channel.
com reports. The fund owned 1,392,259 shares of the bank’s stock after selling 8,562 shares during the period. Geode Capital Management LLC’s holdings in First Merchants were worth $55,550,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of FRME. Nomura Asset Management Co. Ltd.
increased its holdings in First Merchants by 108.3% in the third 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. Nisa Investment Advisors LLC increased its stake in shares of First Merchants by 139.
1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,289 shares of the bank’s stock valued at $51,000 after buying an additional 750 shares during the period. Allworth Financial LP raised its position in shares of First Merchants by 270.
1% during 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 lifted its stake in shares of First Merchants by 27.
9% in the fourth quarter. KBC Group NV now owns 3,052 shares of the bank’s stock worth $122,000 after acquiring an additional 665 shares during the period. Finally, Sciencast Management LP bought a new stake in First Merchants in the fourth quarter valued at approximately $203,000.
Institutional investors and hedge funds own 73.92% of the company’s stock. Analyst Upgrades and Downgrades FRME has been the topic of a number of recent analyst reports.
Raymond James dropped their price target on shares of First Merchants from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd.
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 report on Friday, January 31st.
Hovde Group upgraded First Merchants from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $55.
00 price objective (up from $52.00) on shares of First Merchants in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company.
Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.20.
First Merchants Price Performance Shares of NASDAQ FRME opened at $34.13 on Monday. The firm has a market capitalization of $2.
00 billion, a P/E ratio of 9.98 and a beta of 0.95.
The firm’s 50-day moving average price is $41.05 and its 200-day moving average price is $40.64.
The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.
41. First Merchants Co. has a 1-year low of $30.
55 and a 1-year 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, topping the consensus estimate of $0.90 by $0.
10. First Merchants had a return on equity of 9.23% and a net margin of 18.
76%. Equities research analysts anticipate that First Merchants Co. will post 3.
79 earnings per share for the current fiscal year. First Merchants Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.
35 per share. The ex-dividend date was Friday, March 7th. This represents a $1.
40 dividend on an annualized basis and a yield of 4.10%. First Merchants’s dividend payout ratio (DPR) is presently 40.
94%. About First Merchants ( 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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