First Merchants Corporation (FRME)

Currency in USD
40.91
+0.95(+2.38%)
Real-time Data·
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Fair Value
Day's Range
39.9640.91
52 wk Range
34.6645.33
Key Statistics
Prev. Close
39.96
Open
39.96
Day's Range
39.96-40.91
52 wk Range
34.66-45.33
Volume
114.86K
Average Volume (3m)
449.64K
1-Year Change
11.7454%
Book Value / Share
42.40
Fair Value
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Fair Value Upside
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FRME Scorecardpro icon
Company’s Health
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Fair Value
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Fair Price
Upside
Price Target
46.50
Upside
+13.66%
Members' Sentiments
Bearish
Bullish
ProTips
Suffers from weak gross profit margins
Show more

Technical Analysis

Summary
Strong Sell
Sell
Neutral
Buy
Strong Buy
Strong Buy
Technical Indicators
Strong Buy
Moving Averages
Strong Buy

Analyst Ratings

5 Buy
1 Hold
0 Sell
Ratings:
6 analysts
Overall Consensus
Buy

Analysts 12-Month Price Target:

Average 46.50
(+13.66% Upside)
Firm
ArticlePositionPrice TargetUpside / DownsideFrom Price TargetActionDate
Raymond James
Buy46.00+12.47%-UpgradeOct 06, 2026
Piper Sandler
Buy46.00+12.47%51.00MaintainOct 05, 2026
Piper Sandler
Buy51.00+24.69%49.00MaintainJun 26, 2026
Piper Sandler
Buy49.00+19.80%46.00MaintainFeb 04, 2026
Piper Sandler
Buy46.00+12.47%48.00MaintainOct 27, 2025

First Merchants Corporation SWOT Analysis


Strategic Divestiture
First Merchants Corporation's sale of Illinois branches to Old Second Bancorp reshapes market presence, generating a $23 million deposit premium and enhancing operational focus
Financial Health
Explore FRME's robust financial performance, with a 41.54% price return over six months and strong pre-provision net revenue, despite a slight credit quality decline
Market Positioning
Delve into FRME's strategic concentration on core markets, potentially leading to deeper customer relationships and improved operational efficiency
Future Prospects
Analysts project a bullish outlook with price targets around $45, citing positive momentum and increased balance sheet flexibility from the recent branch sale
Read full SWOT analysis

First Merchants Corporation Earnings Call Summary for Q3/2026

  • Q3 adjusted EPS of $1.10 beat estimates by 5.8%; revenue of $199.1M missed forecast by 2.45% amid fee income pressure.
  • Net interest margin expanded to 3.44%, highest in over two years; management expects Q4 margin stability with modest rate tailwind.
  • Loan growth to return to mid-single digits in Q4; 2027 guidance includes 3-5% expense growth and 8-10% fee income expansion.
  • CEO Mark Hardwick retiring year-end; Mike Stewart to succeed, emphasizing continuity and Midwest relationship banking strategy.
  • Elevated share repurchases planned for Q4 and early 2027; net charge-off guidance lowered to 38-40 bps despite two large non-accruals.
Last Updated: 10/22/2026, 10:08 PM
Read Full Transcript

Earnings

Latest Release
Oct 21, 2026
EPS / Forecast
1.10 / 1.04
Revenue / Forecast
199.07M / 204.06M
EPS Revisions
Last 90 days

Dividends

Payout Ratio
Payout ratio (TTM)
Earnings retained
EPS 3.10
Dividend Yield
3.70%
Industry Median 2.87%
Annualized payout
1.48
Paid quarterly
5-Years Growth
+6.27%
Growth Streak

FRME Income Statement

Compare FRME to Peers and Sector

Metrics to compare
FRME
Peers
Sector
Relationship
P/E Ratio
13.9x0.0x9.2x
PEG Ratio
−0.680.000.03
Price/Book
1.0x0.0x1.0x
Price / LTM Sales
4.0x0.0x2.8x
Upside (Analyst Target)
16.4%0.0%19.2%
Fair Value Upside
Unlock0.0%3.2%Unlock

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services. The company offers a range of financial services, including checking, savings, and deposit products; debit and credit cards; mortgages, refinance, construction or renovation of residential properties, agricultural lending, treasury management services and depository products. It also provides personal and commercial wealth management services, brokerage, investment management, private banking, fiduciary estate, and financial planning services. The company operates banking locations in Indiana, Ohio, and Michigan counties. It offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.

Sector
Financial
Employees
2086

Ownership

Ownership Overview

Type
Common Stock Held% of Shares OutstandingMarket Value
Mutual Funds & ETFs
23.04M36.69%920.88M
Other Institutional Investors
24.34M38.75%972.51M
Public Companies & Retail Investors
15.42M24.55%616.15M
Total
62.8M100.00%2.51B

Top Holders

Holder
% of holding
Shares Held
Date Reported
Value (In 1,000s)
BlackRock, Inc.8.48%5,324,728212,776
Dimensional Fund Advisors LP5.88%3,689,776147,443

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FAQ

What Is the First Merchants (FRME) Stock Price Today?

The First Merchants stock price today is 40.91 USD.

What Stock Exchange Does First Merchants Trade On?

First Merchants is listed and trades on the Nasdaq Stock Exchange.

What Is the Stock Symbol for First Merchants?

The stock symbol for First Merchants is "FRME."

Does First Merchants Pay Dividends? What’s The Current Dividend Yield?

The First Merchants dividend yield is 3.7%%.

What Is the First Merchants Market Cap?

As of today, First Merchants market cap is 2.57B USD.

What Is First Merchants's Earnings Per Share (TTM)?

The First Merchants EPS (TTM) is 3.10.

When Is the Next First Merchants Earnings Date?

First Merchants will release its next earnings report on Jan 28, 2027.

From a Technical Analysis Perspective, Is FRME a Buy or Sell?

Based on moving averages and other technical indicators, the daily buy/sell signal is Strong Buy.

How Many Times Has First Merchants Stock Split?

First Merchants has split 6 times.

How Many Employees Does First Merchants Have?

First Merchants has 2086 employees.

What is the current trading status of First Merchants (FRME)?

As of Oct 22, 2026, First Merchants (FRME) is trading at a price of 40.91 USD, with a previous close of 39.96 USD. The stock has fluctuated within a day range of 39.96 USD to 40.91 USD, while its 52-week range spans from 34.66 USD to 45.33 USD.

What Is First Merchants (FRME) Price Target According to Analysts?

The average 12-month price target for First Merchants is 46.50 USD, with a high estimate of 48 USD and a low estimate of 45 USD. 5 analysts recommend buying the stock, while 0 suggest selling, leading to an overall rating of Buy. The stock has an +13.66% Upside potential.

What Is the FRME Premarket Price?

FRME's last pre-market stock price is 40.00 USD. The pre-market share volume is 2.00, and the stock has decreased by 0.04, or 0.10%.
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