FY2017 EPS Estimates for First Merchants Corporation Increased by DA Davidson (FRME)

First Merchants Corporation (NASDAQ:FRME) – Investment analysts at DA Davidson lifted their FY2017 EPS estimates for shares of First Merchants Corporation in a note issued to investors on Friday. DA Davidson analyst K. Reevey now anticipates that the bank will earn $2.25 per share for the year, up from their prior estimate of $2.24. DA Davidson also issued estimates for First Merchants Corporation’s Q4 2017 earnings at $0.62 EPS, FY2018 earnings at $2.59 EPS and FY2019 earnings at $2.90 EPS.

First Merchants Corporation (NASDAQ:FRME) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.05). First Merchants Corporation had a return on equity of 10.38% and a net margin of 26.28%. The company had revenue of $93.09 million during the quarter, compared to the consensus estimate of $97.45 million. ILLEGAL ACTIVITY NOTICE: “FY2017 EPS Estimates for First Merchants Corporation Increased by DA Davidson (FRME)” was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.com-unik.info/2017/10/30/fy2017-eps-estimates-for-first-merchants-corporation-increased-by-da-davidson-frme.html.

A number of other analysts have also issued reports on FRME. Keefe, Bruyette & Woods reissued a “buy” rating and set a $47.00 target price on shares of First Merchants Corporation in a research note on Sunday. Piper Jaffray Companies reissued a “hold” rating on shares of First Merchants Corporation in a research note on Thursday, August 3rd. BidaskClub lowered shares of First Merchants Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of First Merchants Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. First Merchants Corporation presently has an average rating of “Hold” and an average target price of $45.33.

First Merchants Corporation (FRME) opened at 43.91 on Monday. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 20.05 and a beta of 0.94. The firm has a 50-day moving average of $42.08 and a 200 day moving average of $40.64. First Merchants Corporation has a one year low of $26.55 and a one year high of $44.36.

In related news, insider Mark K. Hardwick sold 1,851 shares of First Merchants Corporation stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $39.69, for a total value of $73,466.19. Following the completion of the sale, the insider now directly owns 75,120 shares in the company, valued at $2,981,512.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 66 shares of company stock valued at $2,644 over the last 90 days. 1.41% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its holdings in shares of First Merchants Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,013 shares of the bank’s stock valued at $482,000 after acquiring an additional 31 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of First Merchants Corporation by 1.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,029 shares of the bank’s stock valued at $122,000 after acquiring an additional 50 shares in the last quarter. Amalgamated Bank raised its holdings in shares of First Merchants Corporation by 1.1% in the second quarter. Amalgamated Bank now owns 5,181 shares of the bank’s stock valued at $208,000 after acquiring an additional 58 shares in the last quarter. Suntrust Banks Inc. raised its holdings in shares of First Merchants Corporation by 1.6% in the second quarter. Suntrust Banks Inc. now owns 6,610 shares of the bank’s stock valued at $265,000 after acquiring an additional 101 shares in the last quarter. Finally, Advisor Group Inc. raised its holdings in shares of First Merchants Corporation by 8.3% in the second quarter. Advisor Group Inc. now owns 2,981 shares of the bank’s stock valued at $120,000 after acquiring an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 67.32% of the company’s stock.

About First Merchants Corporation

First Merchants Corporation is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. It operates through community banking business segment. The Bank also operates Lafayette Bank and Trust, and First Merchants Private Wealth Advisors (each as a division of First Merchants Bank).

Earnings History and Estimates for First Merchants Corporation (NASDAQ:FRME)

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