Want to see FRME full AI Analyst Report?
FRME Stock Chart & Stats
$41.14
-$0.07(-0.18%)
At close: 4:00 PM EST
$41.14
-$0.07(-0.18%)
Day’s Range― - ―
52-Week Range$34.66 - $44.59
Previous CloseN/A
Volume29.51K
Average Volume (3M)423.11K
Market Cap
$2.85B
Enterprise Value$3.93K
Total Cash (Recent Filing)$1.47B
Total Debt (Recent Filing)$1.64B
Price to Earnings (P/E)13.3
Beta0.79
Next Earnings
Jul 22, 2026EPS Estimate
1.02Next Dividend Ex-DateN/A
Dividend Yield3.72%
Share Statistics
EPS (TTM)3.42
Shares Outstanding63,022,740
10 Day Avg. Volume379,629
30 Day Avg. Volume423,113
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$50.50Price Target Upside22.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)3.67
Revenue Forecast (FY)$809.68M
Bulls Say, Bears Say
Bulls Say
Acquisition-driven Scale ExpansionThe First Savings acquisition materially increases franchise scale, expanding deposit and lending capacity and branch footprint. Larger scale supports fee cross-sell, better funding diversification, and creates room for cost synergies and faster loan origination over multiple quarters.
Solid Capital Base And Active Capital ReturnsHealthy regulatory capital ratios plus ongoing buybacks and regular dividends show disciplined capital management. Robust CET1 and tangible equity provide buffers for lending growth and M&A while enabling shareholder distributions without materially draining regulatory cushion.
Net Interest Income And Deposit Mix ImprovementSustained NII growth and slight NIM improvement reflect improving loan yields and deposit cost progress. Coupled with rising noninterest-bearing deposits and diversified fee streams, this supports persistent core earnings generation even as repositioning efforts complete over the next 2–6 quarters.
Bears Say
Rising Leverage Vs Prior YearThe notable step-up in debt-to-equity reduces financial flexibility and raises funding and interest-rate sensitivity. Higher leverage can amplify earnings volatility, constrain future buybacks/dividends if credit or margin stress emerges, and increases supervisory and market scrutiny.
Sharp Free Cash Flow DeteriorationAlthough absolute operating cash flow remains positive, the severe year-over-year FCF decline signals weakening cash conversion and raises concerns about consistency of internal funding for growth and distributions. This could force greater reliance on wholesale funding or slower capital returns.
Delayed Margin Pickup From Mortgage RepositioningThe mortgage-to-held-for-sale move reduces near-term funding costs but delays earning-asset redeployment. Combined with competitive deposit markets and a prior MTM charge, this means margin improvement will be gradual, exposing the bank to continued NIM pressure during the redeployment window.
First Merchants News
FRME FAQ
What was First Merchants’s price range in the past 12 months?
First Merchants lowest stock price was $34.66 and its highest was $44.59 in the past 12 months.
What is First Merchants’s market cap?
First Merchants’s market cap is $2.85B.
When is First Merchants’s upcoming earnings report date?
First Merchants’s upcoming earnings report date is Jul 22, 2026 which is in 4 days.
How were First Merchants’s earnings last quarter?
First Merchants released its earnings results on Apr 22, 2026. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.887 by -$0.437.
Is First Merchants overvalued?
According to Wall Street analysts First Merchants’s price is currently Undervalued.
Does First Merchants pay dividends?
First Merchants pays a Quarterly dividend of $0.37 which represents an annual dividend yield of 3.72%. See more information on First Merchants dividends here
What is First Merchants’s EPS estimate?
First Merchants’s EPS estimate is 1.02.
How many shares outstanding does First Merchants have?
First Merchants has 63,022,740 shares outstanding.
What happened to First Merchants’s price movement after its last earnings report?
First Merchants reported an EPS of $0.45 in its last earnings report, missing expectations of $0.887. Following the earnings report the stock price went down -1.66%.
Which hedge fund is a major shareholder of First Merchants?
Currently, no hedge funds are holding shares in FRME
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
1
2
3
4
5
6
7
8
9
10
Analyst Consensus
Moderate Buy
Average Price Target:
$50.50 (22.75% Upside)
$50.50 (22.75% Upside)
Blogger Sentiment
Bullish
FRME Sentiment 70%
Sector Average 64%
Sector Average 64%
Hedge Fund Trend
Decreased
By 32.6K Shares
Last Quarter.
Last Quarter.
Insider Transactions
Sold Shares
Worth $835.0K over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Very Negative
Last 7 Days ▼ 1.1%
Last 30 Days ▼ 4.0%
Last 30 Days ▼ 4.0%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
13.09%
12-Months-Change
Fundamentals
Return on Equity
8.03%
Trailing 12-Months
Asset Growth
14.28%
Trailing 12-Months
Company Description
First Merchants
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.
FRME Stock 12 Month Forecast
Average Price Target
$50.50
▲(22.75% Upside)
Technical Analysis
Ownership Overview
2.04% Insiders
23.92% Mutual Funds
0.23% Other Institutional Investors
50.56% Public Companies and
Individual Investors









