Financial Services - Banks - Regional - NASDAQ - US
$ 43.48
0.069 %
$ 2.55 B
Market Cap
14.49
P/E
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.[ Read More ]
The intrinsic value of one FRME stock under the base case scenario is HIDDEN Compared to the current market price of 43.5 USD, First Merchants Corporation is HIDDEN
2. FUNDAMENTAL
ANALYSIS
Price Chart FRME
FINANCIALS
654 M
REVENUE
314 M
OPERATING INCOME
224 M
NET INCOME
259 M
OPERATING CASH FLOW
-344 M
INVESTING CASH FLOW
75.6 M
FINANCING CASH FLOW
265 M
REVENUE
60.3 M
OPERATING INCOME
49.2 M
NET INCOME
76.8 M
OPERATING CASH FLOW
-68.2 M
INVESTING CASH FLOW
-29.3 M
FINANCING CASH FLOW
Balance Sheet Decomposition
First Merchants Corporation
| Current Assets | 1.84 B |
| Cash & Short-Term Investments | 1.74 B |
| Receivables | 97.7 M |
| Other Current Assets | 0 |
| Non-Current Assets | 20.8 B |
| Long-Term Investments | 3.81 B |
| PP&E | 153 M |
| Other Non-Current Assets | 16.8 B |
| Current Liabilities | 0 |
| Accounts Payable | 18.9 M |
| Short-Term Debt | 0 |
| Other Current Liabilities | -18.9 M |
| Non-Current Liabilities | 16.2 B |
| Long-Term Debt | 871 M |
| Other Non-Current Liabilities | 15.3 B |
EFFICIENCY
Earnings Waterfall
First Merchants Corporation
| Revenue | 654 M |
| Cost Of Revenue | 0 |
| Gross Profit | 654 M |
| Operating Expenses | 651 M |
| Operating Income | 314 M |
| Other Expenses | 90.7 M |
| Net Income | 224 M |
RATIOS
100.00%
GROSS MARGIN
48.06%
OPERATING MARGIN
34.20%
NET MARGIN
9.96%
ROE
1.22%
ROA
8.70%
ROIC
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
First Merchants Corporation
| Net Income | 224 M |
| Depreciation & Amortization | 11.7 M |
| Capital Expenditures | 0 |
| Stock-Based Compensation | 5.16 M |
| Change in Working Capital | -4.45 M |
| Others | -11 M |
| Free Cash Flow | 259 M |
Wall Street Analysts Price Targets
First Merchants Corporation
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
-2.25%
FRME Average Price Target
Wall Street Target
46.1 USD
6.08%
FRME Highest Price Target
Wall Street Target
50 USD
15.00%
4. DIVIDEND ANALYSIS
0.97%
DIVIDEND YIELD
0.35 USD
DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership
First Merchants Corporation
Sold
0-3 MONTHS
1.14 M USD 1
3-6 MONTHS
1.25 M USD 2
6-9 MONTHS
539 K USD 2
9-12 MONTHS
370 K USD 1
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
1.07 K USD 1
6-9 MONTHS
100 K USD 1
9-12 MONTHS
| Date | Value | Insider | Amount | Avg Price |
|---|---|---|---|---|
|
1 week ago
Nov 08, 2024
|
Sell 1.14 M USD
|
Fehring Patrick J.
Director |
- 26437
|
43.01 USD |
|
3 months ago
Aug 09, 2024
|
Sell 476 K USD
|
HARDWICK MARK K
Chief Executive Officer |
- 11832.965
|
40.22 USD |
|
5 months ago
May 30, 2024
|
Sell 778 K USD
|
Fehring Patrick J.
Director |
- 23936
|
32.51 USD |
|
7 months ago
Mar 29, 2024
|
Bought 1.07 K USD
|
Stewart Michael J
President |
+ 36
|
29.67 USD |
|
8 months ago
Feb 28, 2024
|
Sell 106 K USD
|
FLUHLER STEPHAN
officer, other: Chief Information Officer |
- 3192.999
|
33.17 USD |
|
11 months ago
Dec 18, 2023
|
Bought 50.2 K USD
|
FISHER MICHAEL J
Director |
+ 1380
|
36.38 USD |
|
8 months ago
Feb 28, 2024
|
Sell 106 K USD
|
FLUHLER STEPHAN
officer, other: Chief Information Officer |
- 3192.999
|
33.17 USD |
|
1 year ago
May 12, 2023
|
Bought 24.7 K USD
|
KELLOGG CLARK C
Director |
+ 1000
|
24.72 USD |
|
9 months ago
Feb 13, 2024
|
Sell 328 K USD
|
Fehring Patrick J.
Director |
- 9904
|
33.08 USD |
|
10 months ago
Dec 19, 2023
|
Sell 370 K USD
|
RECHIN MICHAEL C
Director |
- 10000
|
37.05 USD |
|
11 months ago
Dec 18, 2023
|
Bought 50.2 K USD
|
FISHER MICHAEL J
Director |
+ 1380
|
36.38 USD |
|
1 year ago
Jul 28, 2023
|
Bought 2.25 K USD
|
Sondhi Jason R
Director |
+ 70
|
32.2 USD |
|
1 year ago
Jul 28, 2023
|
Bought 12.5 K USD
|
Sondhi Jason R
Director |
+ 388
|
32.15 USD |
|
1 year ago
Mar 03, 2023
|
Sell 58.7 K USD
|
Lehman Gary
Director |
- 1465
|
40.09 USD |
|
2 years ago
Oct 28, 2022
|
Sell 381 K USD
|
Schalliol Charles E
Director |
- 8523.028
|
44.72 USD |
|
2 years ago
Oct 28, 2022
|
Sell 704 K USD
|
Schalliol Charles E
Director |
- 16000
|
44 USD |
|
2 years ago
Oct 31, 2022
|
Sell 141 K USD
|
FLUHLER STEPHAN
Chief Information Officer |
- 3174
|
44.29 USD |
|
2 years ago
May 18, 2022
|
Sell 55.2 K USD
|
Fehring Patrick J.
director: |
- 1400
|
39.43 USD |
|
2 years ago
May 19, 2022
|
Sell 23.4 K USD
|
Fehring Patrick J.
Director |
- 600
|
39.01 USD |
|
2 years ago
May 20, 2022
|
Sell 399 K USD
|
Fehring Patrick J.
Director |
- 10400
|
38.4 USD |
|
2 years ago
May 02, 2022
|
Bought 500 USD
|
Sherman Patrick A
director: |
+ 12.442
|
40.19 USD |
|
2 years ago
Mar 31, 2022
|
Bought 500 USD
|
Sherman Patrick A
director: |
+ 11.912
|
41.97 USD |
|
2 years ago
Mar 01, 2022
|
Bought 500 USD
|
Sherman Patrick A
director: |
+ 11.601
|
43.1 USD |
|
2 years ago
Feb 01, 2022
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 11.701
|
42.73 USD |
|
2 years ago
Jan 03, 2022
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 11.922
|
41.94 USD |
|
2 years ago
Dec 09, 2021
|
Sell 127 K USD
|
FLUHLER STEPHAN
Chief Information Officer |
- 3155
|
40.34 USD |
|
2 years ago
Dec 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 12.299
|
40.654 USD |
|
3 years ago
Nov 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 11.886
|
42.068 USD |
|
3 years ago
Oct 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 11.869
|
42.128 USD |
|
3 years ago
Sep 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 12.146
|
41.166 USD |
|
3 years ago
Jul 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 11.832
|
42.258 USD |
|
3 years ago
Aug 02, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 12.33
|
40.552 USD |
|
3 years ago
Jul 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 11.832
|
42.258 USD |
|
3 years ago
Jun 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 10.904
|
45.856 USD |
|
3 years ago
May 26, 2021
|
Sell 367 K USD
|
HARDWICK MARK K
Chief Executive Officer |
- 8090.148
|
45.36 USD |
|
3 years ago
May 12, 2021
|
Sell 50.6 K USD
|
Becher Michael R
Director |
- 1100
|
46.04 USD |
|
3 years ago
May 03, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 10.68
|
46.816 USD |
|
3 years ago
Apr 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 10.622
|
47.074 USD |
|
3 years ago
Apr 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 10.622
|
47.074 USD |
|
3 years ago
Mar 18, 2021
|
Sell 145 K USD
|
Lehman Gary
Director |
- 3000
|
48.382 USD |
|
3 years ago
Mar 18, 2021
|
Sell 450 K USD
|
Marhenke Michael C
Director |
- 9000
|
50 USD |
|
3 years ago
Mar 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 11.551
|
43.286 USD |
|
3 years ago
Mar 01, 2021
|
Sell 196 K USD
|
HOY WILLIAM L
Director |
- 4500
|
43.53 USD |
|
3 years ago
Feb 01, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 13.006
|
38.444 USD |
|
3 years ago
Jan 04, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 13.448
|
37.18 USD |
|
3 years ago
Jan 04, 2021
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 13.448
|
37.18 USD |
|
3 years ago
Nov 23, 2020
|
Bought 6.62 K USD
|
KELLOGG CLARK C JR
Director |
+ 200
|
33.079 USD |
|
3 years ago
Dec 01, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 14.473
|
34.548 USD |
|
4 years ago
Oct 01, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 21.557
|
23.194 USD |
|
4 years ago
Nov 02, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 19.115
|
26.158 USD |
|
4 years ago
Oct 01, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 21.557
|
23.194 USD |
|
4 years ago
Sep 01, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 19.398
|
25.776 USD |
|
4 years ago
Aug 03, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 20.289
|
24.644 USD |
|
4 years ago
Jul 01, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 18.787
|
26.614 USD |
|
4 years ago
May 06, 2020
|
Bought 255 K USD
|
Marhenke Michael C
Director |
+ 10000
|
25.53 USD |
|
4 years ago
Jun 01, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 17.643
|
28.34 USD |
|
4 years ago
May 20, 2020
|
Sell 254 K USD
|
RECHIN MICHAEL C
Chief Executive Officer |
- 10000
|
25.404 USD |
|
4 years ago
May 05, 2020
|
Sell 89.3 K USD
|
Stewart Michael J
Chief Banking Officer |
- 3322.791
|
26.864 USD |
|
4 years ago
May 01, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 17.81
|
28.074 USD |
|
4 years ago
Apr 01, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 19.501
|
25.64 USD |
|
4 years ago
Mar 13, 2020
|
Bought 142 K USD
|
Marhenke Michael C
Director |
+ 5000
|
28.5 USD |
|
4 years ago
Mar 16, 2020
|
Bought 145 K USD
|
HARDWICK MARK K
CFO & COO |
+ 5424
|
26.682 USD |
|
4 years ago
Mar 05, 2020
|
Bought 337 K USD
|
Marhenke Michael C
Director |
+ 10000
|
33.657 USD |
|
4 years ago
Mar 02, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 13.424
|
37.248 USD |
|
4 years ago
Feb 03, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 12.484
|
40.05 USD |
|
4 years ago
Jan 02, 2020
|
Bought 500 USD
|
Sherman Patrick A
Director |
+ 12.062
|
41.452 USD |
7. News
First Merchants Corporation Announces Cash Dividend
MUNCIE, Ind., Nov. 13, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation declared a cash dividend on November 12, 2024 of $0.35 per share. The dividend is payable on December 20, 2024, to shareholders of record as of December 6, 2024. For purposes of broker trading, the ex-date of the cash dividend is December 5, 2024.
globenewswire.com
- 3 days ago
First Merchants Corporation (FRME) Q3 2024 Earnings Call Transcript
First Merchants Corporation (NASDAQ:FRME ) Q3 2024 Earnings Conference Call October 24, 2024 11:30 AM ET Company Participants Mark Hardwick - Chief Executive Officer Michael Stewart - President Michele Kawiecki - Chief Financial Officer John Martin - Chief Credit Officer Conference Call Participants Terry McEvoy - Stephens Nathan Race - Piper Sandler Damon DelMonte - KBW Daniel Tamayo - Raymond James Brendan Nosal - Hovde Group Brian Martin - Janney Operator Welcome to the First Merchants Corporation Third Quarter 2024 Earnings Conference Call. Before we begin, management would like to remind you that today's call contains forward looking statements with respect to the future performance and financial condition of First Merchants Corporation that involves risks and uncertainties.
seekingalpha.com
- 3 weeks ago
First Merchants (FRME) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
The headline numbers for First Merchants (FRME) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
zacks.com
- 3 weeks ago
First Merchants (FRME) Tops Q3 Earnings Estimates
First Merchants (FRME) came out with quarterly earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.94 per share a year ago.
zacks.com
- 3 weeks ago
First Merchants Corporation Announces Third Quarter 2024 Earnings per Share
MUNCIE, Ind., Oct. 24, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ - FRME) Third Quarter 2024 Highlights: Net income available to common stockholders was $48.7 million and diluted earnings per common share totaled $0.84, compared to $55.9 million and $0.94 in the third quarter of 2023, and $39.5 million and $0.68 in the second quarter of 2024.
globenewswire.com
- 3 weeks ago
First Merchants Corporation Announces Cash Dividend on Its Preferred Stock
MUNCIE, Ind., Oct. 15, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation has declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A, represented by depositary shares (NASDAQ: FRMEP) each representing a 1/100th interest in a share of the Series A preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend will be payable on November 15, 2024, to stockholders of record on October 31, 2024.
globenewswire.com
- 1 month ago
First Merchants Corporation to Report Third Quarter 2024 Financial Results, Host Conference Call and Webcast
MUNCIE, Ind., Oct. 03, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation (Nasdaq:FRME) will report third quarter 2024 financial results on October 24, 2024. The Corporation will host a third quarter 2024 earnings conference call and webcast at 11:30 a.m. (ET) on Thursday, October 24, 2024.
globenewswire.com
- 1 month ago
All You Need to Know About First Merchants (FRME) Rating Upgrade to Buy
First Merchants (FRME) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
zacks.com
- 1 month ago
First Merchants Corporation: Decent Return Potential With Earnings Likely To Recover Next Year
The regional economy appears to be conducive to loan growth. Interest rate cuts will most probably hurt the net interest margin. I'm expecting earnings to recover next year after falling in 2024.
seekingalpha.com
- 1 month ago
First Merchants Earns New Award: TIME Magazine's “America's Best Mid-Sized Company”
MUNCIE, Ind., Sept. 17, 2024 (GLOBE NEWSWIRE) -- First Merchants Bank (NASDAQ: FRME) is one of the select few regional banks to receive the TIME Magazine "America's Best Mid-Sized Companies” award.
globenewswire.com
- 1 month ago
Old Second Bancorp, Inc. and First Merchants Corporation Announce Transaction Involving Chicagoland Branch Operations
Old Second National Bank Acquires 5 Illinois Branches from First Merchants Bank Proposed Acquisition to Add $304 Million in Deposits and $12 million in loans CHICAGO, IL / ACCESSWIRE / August 27, 2024 / Old Second Bancorp, Inc. ("Old Second Bancorp") (NASDAQ:OSBC), the parent company of Old Second National Bank ("Old Second"), and First Merchants Corporation ("First Merchants Corp.") (NASDAQ:FRME), the parent company of First Merchants Bank ("First Merchants"), jointly announced today that Old Second and First Merchants have entered into a Purchase and Assumption Agreement where Old Second will purchase 5 Illinois branch locations in the Southeast Chicago MSA as well as certain branch related loans and deposits from First Merchants. The acquisition enhances Old Second's position as one of the largest banks headquartered in the Chicagoland area, and adds meaningfully to its existing branch network and in the Southeast Chicago market, allowing for improved scale and penetration.
accesswire.com
- 2 months ago
Old Second Bancorp, Inc. and First Merchants Corporation Announce Transaction Involving Chicagoland Branch Operations
Old Second National Bank Acquires 5 Illinois Branches from First Merchants Bank _____________ Proposed Acquisition to Add $304 Million in Deposits and $12 million in loans _____________ CHICAGO, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Old Second Bancorp, Inc. (“Old Second Bancorp”) (NASDAQ: OSBC), the parent company of Old Second National Bank (“Old Second”), and First Merchants Corporation (“First Merchants Corp.”) (NASDAQ: FRME), the parent company of First Merchants Bank (“First Merchants”), jointly announced today that Old Second and First Merchants have entered into a Purchase and Assumption Agreement where Old Second will purchase 5 Illinois branch locations in the Southeast Chicago MSA as well as certain branch related loans and deposits from First Merchants. The acquisition enhances Old Second's position as one of the largest banks headquartered in Chicago and adds meaningfully to its existing branch network and in the Southeast Chicago market, allowing for improved scale and penetration.
globenewswire.com
- 2 months ago
8. Profile Summary
First Merchants Corporation FRME
COUNTRY
US
INDUSTRY
Banks - Regional
MARKET CAP
$ 2.55 B
Dividend Yield
0.97%
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
2162
Officers
Ms. Michele M. Kawiecki
Executive Vice President, Chief Financial Officer & Principal Accounting Officer
Mr. Michael C. Rechin
Advisor & Vice Chair
Mr. John J. Martin
Executive Vice President & Chief Credit Officer
Ms. Nicole M. Weaver
Vice President & Director of Corporate Administration
Mr. Brian T. Hunt
Secretary & Legal Counsel
Mr. Stephan H. Fluhler
Senior Vice President & Chief Information Officer
Mr. Marcos Nogues C.F.A.
Chief Investment Officer
Mr. Steven C. Harris
Senior Vice President & Chief Human Resources Officer
Mr. Michael J. Stewart
President
Mr. Mark K. Hardwick
Chief Executive Officer & Director