First Merchants (FM5) Price & Analysis

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FM5 Stock Chart & Stats

€35.60

€1.20(3.28%)

At close: Jul 24 4:00 PM EDT

€35.60

€1.20(3.28%)

Day’s Range― - ―

52-Week Range€30.00 - €39.40

Previous CloseN/A

Volume0.00

Average Volume (3M)0.00

Market Cap

€2.29B

Enterprise Value€3.61B

Total Cash (Recent Filing)€3.91B

Total Debt (Recent Filing)€1.60B

Price to Earnings (P/E)12.7

Beta0.59

Next Earnings

Jan 28, 2027

EPS Estimate

0.89

Next Dividend Ex-DateN/A

Dividend YieldN/A

Share Statistics

EPS (TTM)3.14

Shares Outstanding62,210,133

10 Day Avg. Volume0

30 Day Avg. Volume0

Financial Highlights & Ratios

PEG Ratio0.68

Price to Book (P/B)0.88

Price to Sales (P/S)2.06

P/FCF Ratio7.63

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

€41.63

Price Target Upside16.93% Upside

Rating ConsensusStrong Buy

Number of Analyst Covering3

EPS Forecast (FY)2.89

Revenue Forecast (FY)€718.33M

Bulls Say, Bears Say

Bulls Say

Margin And Revenue GrowthHigher net interest margin and strong year-to-date net interest income growth indicate improving earnings power from the core banking franchise. Continued loan repricing and a higher-yielding asset mix can support revenue durability over the next several quarters, provided funding costs remain controlled.

Cash Generation And CapitalStrong operating cash flow and free cash flow coverage support earnings quality and internal funding capacity. Combined with a solid common-equity capital position, this gives First Merchants flexibility to absorb credit costs, invest in the franchise, and maintain shareholder distributions.

Diversified Growth CapabilitiesExpansion into SBA and first-lien HELOC activity broadens fee-generation opportunities beyond traditional spread income. Expected growth in client-related fees, alongside wealth-management and payment services, can improve revenue diversification and make the business model more resilient.

Bears Say

Elevated Credit ActivityRecent charge-offs, new nonaccrual loans, and higher criticized classifications show that credit normalization remains an important earnings risk. Although management states that major relationships were previously reserved, further deterioration could increase provisions and reduce profitability over the coming quarters.

Higher Expenses And Funding CostsA higher operating expense base can limit incremental earnings conversion even while revenue grows. The new subordinated notes also add recurring interest expense, creating a durable cost burden that may offset part of future margin improvement and constrain efficiency gains.

Uneven Balance-sheet GrowthSlower loan growth and declining year-to-date deposits could restrain expansion of the bank’s earning-asset base and increase the importance of deposit pricing. If commercial production remains uneven, revenue growth may depend more heavily on margin gains and acquisitions or new fee initiatives.

First Merchants News

First Merchants reports Q3 EPS $1.09, consensus $1.04

Reports Q3 revenue $199.07M, consensus $203.94M. “First Merchants (FRME) delivered strong third quarter results. Earnings per diluted share...

6d ago

FRME

First Merchants upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded First Merchants (FRME) to Outperform from Market Perform with a $46 price target First Merchants’...

21d ago

FRME

First Merchants price target lowered to $46 from $51 at Piper Sandler

Piper Sandler lowered the firm’s price target on First Merchants (FRME) to $46 from $51 and keeps an...

22d ago

FRME

First Merchants announces Hardwick to retire, Stewart to succeed

First Merchants (FRME) announced that CEO Mark Hardwick will retire at the end of the year after 29...

26d ago

FRME

First Merchants Earnings Call Signals Solid Growth

First Merchants (($FRME)) has held its Q3 earnings call. Read on for the main highlights of the call....

4d ago

FRME

FRME Earnings this Week: How Will it Perform?

First Merchants (FRME) is scheduled to report 3rd quarter earnings on 10/21/2026, after the market closes. Regarding Q3...

8d ago

FRME

First Merchants Declares Quarterly Preferred Stock Dividend

First Merchants ( ($FRME) ) has shared an update. On October 15, 2026, First Merchants Corporation announced that...

12d ago

FRME

First Merchants Announces CEO Retirement and Leadership Transition

An update from First Merchants ( ($FRME) ) is now available. On October 1, 2026, First Merchants Corporation...

26d ago

FRME

First Merchants Issues New Subordinated Notes Offering

First Merchants ( ($FRME) ) has issued an update. First Merchants Corporation entered into an indenture and first...

1M ago

FRME

First Merchants Launches $100 Million Subordinated Notes Offering

An update from First Merchants ( ($FRME) ) is now available. On September 23, 2026, First Merchants Corporation...

1M ago

FRME

First Merchants files automatic mixed securities shelf

13:47 EDT First Merchants (FRME) files automatic mixed securities shelf Published first on TheFly – the ultimate source...

1M ago

FRME

First Merchants Declares Quarterly Cash Dividend to Shareholders

First Merchants ( ($FRME) ) has provided an announcement. On August 14, 2026, First Merchants Corporation declared a...

2M ago

FRME

First Merchants management to meet with Piper Sandler

Meeting to be held on August 4 hosted by Piper Sandler. Published first on TheFly – the ultimate...

3M ago

FRME

First Merchants Balances Margin Gains With Credit Strain

First Merchants (($FRME)) has held its Q2 earnings call. Read on for the main highlights of the call....

3M ago

FRME

FM5 FAQ

What was First Merchants Corp.’s price range in the past 12 months?

First Merchants Corp. lowest stock price was €30.00 and its highest was €39.40 in the past 12 months.

What is First Merchants Corp.’s market cap?

First Merchants Corp.’s market cap is €2.29B.

When is First Merchants Corp.’s upcoming earnings report date?

First Merchants Corp.’s upcoming earnings report date is Jan 28, 2027 which is in 93 days.

How were First Merchants Corp.’s earnings last quarter?

First Merchants Corp. released its earnings results on Oct 21, 2026. The company reported €0.971 earnings per share for the quarter, beating the consensus estimate of €0.925 by €0.046.

Is First Merchants Corp. overvalued?

According to Wall Street analysts First Merchants Corp.’s price is currently Undervalued. Get more investment ideas with TipRanks Premium

Does First Merchants Corp. pay dividends?

First Merchants Corp. does not currently pay dividends.

What is First Merchants Corp.’s EPS estimate?

First Merchants Corp.’s EPS estimate is 0.89.

How many shares outstanding does First Merchants Corp. have?

First Merchants Corp. has 62,210,133 shares outstanding.

What happened to First Merchants Corp.’s price movement after its last earnings report?

First Merchants Corp. reported an EPS of €0.971 in its last earnings report, beating expectations of €0.925. Following the earnings report the stock price went up 2.26%.

Which hedge fund is a major shareholder of First Merchants Corp.?

Currently, no hedge funds are holding shares in DE:FM5

What is the TipRanks Smart Score and how is it calculated?

Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology

First Merchants Stock Smart Score

Neutral

Fundamentals

Return on Equity

7.54%

Trailing 12-Months

Asset Growth

11.93%

Trailing 12-Months

Learn more about TipRanks Smart Score

Top Smart Score Stocks >

Company Description

First Merchants Corp.

First Merchants Corporation operates as a financial holding entity, primarily conducting its business through its subsidiary, First Merchants Bank. This institution delivers a full spectrum of community banking solutions. It accepts various types of deposits, including term, savings, and checking accounts. The company also extends a wide array of lending products, such as consumer, commercial, agricultural business, and real estate mortgage loans, in addition to public finance options. Beyond standard banking, First Merchants provides personal and corporate trust services, brokerage capabilities, and private wealth management. Its corporate offerings further include letters of credit, repurchase agreements, and other specialized financial services. The company maintains a network of 109 physical banking locations situated across counties in Indiana, Illinois, Ohio, and Michigan. Furthermore, it offers convenient access to its services via electronic and mobile platforms. First Merchants Corporation was established in 1893 and is headquartered in Muncie, Indiana.

First Merchants (FM5) Earnings & Revenues

Historic Earnings Reports

FM5 Company Deck

FM5 Earnings Call

Q3 2026

0:00 / 0:00

Earnings Call Sentiment|Positive

The call was broadly positive, supported by double-digit earnings and revenue growth, net interest margin expansion, strong capital, continued organic loan and deposit opportunities, and confidence in the leadership transition. The main challenges were modest quarterly loan growth, softer consumer mortgage demand, elevated but largely previously reserved credit activity, higher expenses, and some near-term fee-income and margin offsets.View all DE:FM5 earnings summaries

FM5 Stock 12 Month Forecast

Average Price Target

€41.63

▲(16.93% Upside)

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Detailed Analyst Forecast >