First Merchants Corporation (NASDAQ:FRME).
On January 29 the company was changed to a “Overweight” according to a Stephens & Co. report up from the previous “Equal-weight” rating. SunTrust Robinson Humphrey initiated coverage on FRME setting a rating of “Neutral” and setting a price target of $27.00.
Equity analyst Stephens & Co. began coverage of FRME giving it an initial rating of “Equal-weight”. On April 24 the company was downgraded from “Buy” to “Hold” by analysts at Sandler O’Neill.
June 3 investment analysts at FIG Partners maintained a price target of $23.50 but upgraded the stock from Market Perform to Outperform.
The company is up by 0.34% since yesterday’s close of $26.57. First Merchants Corporation recently declared a dividend which was paid on Friday the 16th of September 2016. The dividend was $0.140 per share for the quarter which comes to $0.56 on an annualized basis. This dividend amount represented a yeild of $2.08. The ex-dividend date was set for Wednesday the 31st of August 2016.
It is currently trading at $26.66 which is slightly below the 50 day moving average which is $26.98 and which is a tad above the 200 day moving average of $25.40. The 50 day moving average was down $-0.33 and the 200 day average moved up $1.25.
The most current P/E ratio is 15.28 and market cap is 1.09B. As of the latest earnings report the EPS was $1.74 and is expected to be $1.90 for the current year with 40,774,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.49 and the next full year EPS is anticipated to be $2.01.
Traders are a little more bearish on First Merchants Corporation lately if you consider the increase in short interest. The stock realized a rise in short interest from August 31, 2016 to September 15, 2016 of 0.03%. Short shares grew 26,270 over that period. Days to cover increased 0.5 to 6.5 and the percentage of shorted shares is 0.02% as of September 15.