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First Merchants Corporation FRME
Financial Services - Banks - Regional - NASDAQ - US
Watchlist
$ 35.75
0.281 %
$ 2.09 B
Market Cap
10.48
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one FRME stock under the worst case scenario is HIDDEN Compared to the current market price of 35.8 USD, First Merchants Corporation is HIDDEN

FRME Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one FRME stock under the base case scenario is HIDDEN Compared to the current market price of 35.8 USD, First Merchants Corporation is HIDDEN

FRME Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one FRME stock under the best case scenario is HIDDEN Compared to the current market price of 35.8 USD, First Merchants Corporation is HIDDEN

FRME Intrinsic Value
HIDDEN
SHOW
2. FUNDAMENTAL ANALYSIS

Price Chart FRME

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1M -14.0%
6M -2%
1Y 14.0%
3Y 0%
5Y 62%
All
$45.0$45.0$44.0$44.0$43.0$43.0$42.0$42.0$41.0$41.0$40.0$40.0$39.0$39.0$38.0$38.0$37.0$37.0$36.0$36.0$35.0$35.015 Oct15 OctNov '24Nov '2415 Nov15 NovDec '24Dec '2415 Dec15 DecJan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '25
FINANCIALS
948 M REVENUE
45.62%
Growth Rates
1Year 45.62%
3Years 22.16%
5Years 16.42%
7Years 15.38%
10Years 14.14%
941 M OPERATING INCOME
262.85%
Growth Rates
1Year 262.85%
3Years 57.49%
5Years 37.16%
7Years 27.31%
10Years 24.29%
201 M NET INCOME
-10.00%
Growth Rates
1Year -10.00%
3Years -0.67%
5Years 4.14%
7Years 11.15%
10Years 12.84%
266 M OPERATING CASH FLOW
2.85%
Growth Rates
1Year 2.85%
3Years 8.68%
5Years 8.33%
7Years 11.21%
10Years 13.38%
-252 M INVESTING CASH FLOW
26.71%
Growth Rates
1Year 26.71%
3Years 44.41%
5Years 24.16%
7Years 12.35%
10Years -7.20%
-38.8 M FINANCING CASH FLOW
-51.32%
Growth Rates
1Year -51.32%
3Years -1.04%
5Years -0.88%
7Years -1.00%
10Years -5.16%
157 M REVENUE
0.74%
Growth Rates
1Year 45.62%
3Years 22.16%
5Years 16.42%
7Years 15.38%
10Years 14.14%
0 OPERATING INCOME
0.00%
Growth Rates
1Year 262.85%
3Years 57.49%
5Years 37.16%
7Years 27.31%
10Years 24.29%
64.3 M NET INCOME
30.83%
Growth Rates
1Year -10.00%
3Years -0.67%
5Years 4.14%
7Years 11.15%
10Years 12.84%
67.5 M OPERATING CASH FLOW
-12.14%
Growth Rates
1Year 2.85%
3Years 8.68%
5Years 8.33%
7Years 11.21%
10Years 13.38%
-252 M INVESTING CASH FLOW
-268.94%
Growth Rates
1Year 26.71%
3Years 44.41%
5Years 24.16%
7Years 12.35%
10Years -7.20%
187 M FINANCING CASH FLOW
737.88%
Growth Rates
1Year -51.32%
3Years -1.04%
5Years -0.88%
7Years -1.00%
10Years -5.16%
Balance Sheet First Merchants Corporation
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Current Assets 1.57 B
Cash & Short-Term Investments 1.47 B
Receivables 91.8 M
Other Current Assets 0
Non-Current Assets 954 M
Long-Term Investments 0
PP&E 130 M
Other Non-Current Assets 824 M
58.50 %3.64 %5.15 %32.71 %Total Assets$2.5b
Current Liabilities 16.1 M
Accounts Payable 16.1 M
Short-Term Debt 0
Other Current Liabilities 0
Non-Current Liabilities 916 M
Long-Term Debt 916 M
Other Non-Current Liabilities 0
98.27 %Total Liabilities$932.2m
EFFICIENCY
Earnings Waterfall First Merchants Corporation
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Revenue 948 M
Cost Of Revenue 0
Gross Profit 948 M
Operating Expenses 7.39 M
Operating Income 941 M
Other Expenses 739 M
Net Income 201 M
1b1b900m900m800m800m700m700m600m600m500m500m400m400m300m300m200m200m100m100m00948m0948m(7m)941m(739m)201mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
100.00% GROSS MARGIN
100.00%
Averages
1Year 100.00%
3Years 100.17%
5Years 100.10%
7Years 100.07%
10Years 100.00%
99.22% OPERATING MARGIN
99.22%
Averages
1Year 99.22%
3Years 64.41%
5Years 54.82%
7Years 54.25%
10Years 52.29%
21.24% NET MARGIN
21.24%
Averages
1Year 21.24%
3Years 30.33%
5Years 32.14%
7Years 33.73%
10Years 31.66%
8.74% ROE
8.74%
Averages
1Year 8.74%
3Years 9.87%
5Years 9.66%
7Years 9.83%
10Years 9.28%
1.10% ROA
1.10%
Averages
1Year 1.10%
3Years 1.18%
5Years 1.19%
7Years 1.27%
10Years 1.20%
32.65% ROIC
32.65%
Averages
1Year 32.65%
3Years 13.10%
5Years 8.82%
7Years 7.05%
10Years 5.34%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis First Merchants Corporation
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300m300m200m200m100m100m00(100m)(100m)(200m)(200m)(300m)(300m)(400m)(400m)20162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 201 M
Depreciation & Amortization 26.8 M
Capital Expenditures 0
Stock-Based Compensation 5.82 M
Change in Working Capital -2.63 M
Others 33.3 M
Free Cash Flow 266 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets First Merchants Corporation
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Wall Street analysts predict an average 1-year price target for FRME of $46.1 , with forecasts ranging from a low of $42.5 to a high of $50 .
FRME Lowest Price Target Wall Street Target
42.5 USD 18.88%
FRME Average Price Target Wall Street Target
46.1 USD 29.02%
FRME Highest Price Target Wall Street Target
50 USD 39.86%
Price
Max Price Target
Min Price Target
Average Price Target
50504848464644444242404038383636343432323030May '24May '24Jul '24Jul '24Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26
4. DIVIDEND ANALYSIS
0.90% DIVIDEND YIELD
0.35 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
1.401.401.201.201.001.000.800.800.600.600.400.400.200.200.000.000.080.110.150.180.220.260.260.290.320.340.350.110.140.180.220.260.260.290.320.340.350.110.140.180.220.260.260.290.320.340.350.110.410.150.540.180.690.220.840.261.000.261.040.291.130.321.250.341.340.351.390.352015201520162016201720172018201820192019202020202021202120222022202320232024202420252025
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5. COMPETITION
slide 2 of 15
6. Ownership
Insider Ownership First Merchants Corporation
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
1.45 M USD 2
6-9 MONTHS
476 K USD 1
9-12 MONTHS
778 K USD 1
Bought
0 USD 0
0-3 MONTHS
165 USD 1
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
Why First Merchants (FRME) is a Great Dividend Stock Right Now Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does First Merchants (FRME) have what it takes? zacks.com - 1 week ago
First Merchants Corporation to Report First Quarter 2025 Financial Results, Host Conference Call and Webcast MUNCIE, Ind., April 03, 2025 (GLOBE NEWSWIRE) -- First Merchants Corporation (Nasdaq:FRME) will report first quarter 2025 financial results on April 24, 2025. The Corporation will host a first quarter 2025 earnings conference call and webcast at 11:30 a.m. (ET) on Thursday, April 24, 2025. globenewswire.com - 1 week ago
New Strong Buy Stocks for March 28th NATL, BGC, CCNE, FRME and UVSP have been added to the Zacks Rank #1 (Strong Buy) List on March 28, 2025. zacks.com - 2 weeks ago
3 Dividend Stocks to Consider for a Market Rebound Magnifying the trend of positive earnings estimate revisions for these highly ranked stocks is their attractive dividends, which are reassuring as investors hope the broader market will continue to stabilize and rebound. zacks.com - 3 weeks ago
First Merchants (FRME) Upgraded to Strong Buy: Here's Why First Merchants (FRME) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term. zacks.com - 3 weeks ago
Why First Merchants (FRME) is a Top Dividend Stock for Your Portfolio Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does First Merchants (FRME) have what it takes? zacks.com - 3 weeks ago
Best Momentum Stock to Buy for March 20th HSNGY, TKOMY and FRME made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on March 20, 2025. zacks.com - 3 weeks ago
Best Momentum Stocks to Buy for March 14th ZION, FRME and HWC made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on March 14, 2025. zacks.com - 1 month ago
First Merchants (FRME) is a Top Dividend Stock Right Now: Should You Buy? Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does First Merchants (FRME) have what it takes? zacks.com - 1 month ago
First Merchants (FRME) Could Be a Great Choice Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does First Merchants (FRME) have what it takes? zacks.com - 1 month ago
First Merchants Corporation Announces Cash Dividend MUNCIE, Ind., Feb. 07, 2025 (GLOBE NEWSWIRE) -- First Merchants Corporation declared a cash dividend on February 7, 2025 of $0.35 per share. The dividend is payable on March 21, 2025, to common shareholders of record as of March 7, 2025. For purposes of broker trading, the ex-date of the cash dividend is March 6, 2025. globenewswire.com - 2 months ago
First Merchants (FRME) is a Great Momentum Stock: Should You Buy? Does First Merchants (FRME) have what it takes to be a top stock pick for momentum investors? Let's find out. zacks.com - 2 months ago
8. Profile Summary

First Merchants Corporation FRME

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COUNTRY US
INDUSTRY Banks - Regional
MARKET CAP $ 2.09 B
Dividend Yield 0.90%
Description First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as public finance. The company also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services. It operates 109 banking locations in Indiana, Illinois, Ohio, and Michigan counties. The company also offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.
Contact 200 East Jackson Street, Muncie, IN, 47305-2814 https://www.firstmerchants.com
IPO Date June 20, 1989
Employees 2120
Officers Mr. Marcos Nogues C.F.A. Chief Investment Officer Mr. Michael J. Stewart President Mr. Mark K. Hardwick Chief Executive Officer & Director Mr. Michael C. Rechin Advisor & Vice Chair Ms. Michele M. Kawiecki Executive Vice President, Chief Financial Officer & Principal Accounting Officer