News stories about First Merchants Corporation (NASDAQ:FRME) have trended somewhat positive on Saturday, according to Accern. The research group identifies negative and positive news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. First Merchants Corporation earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned news articles about the bank an impact score of 47.4497376472479 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news articles that may have effected Accern Sentiment Analysis’s scoring:
- Zacks Investment Research Downgrades First Merchants Corporation (FRME) to Hold (americanbankingnews.com)
- FY2017 EPS Estimates for First Merchants Corporation Reduced by FIG Partners (FRME) (americanbankingnews.com)
- First Merchants Corporation to Post Q4 2017 Earnings of $0.62 Per Share, FIG Partners Forecasts (FRME) (americanbankingnews.com)
- First Merchants Corporation (FRME) Lifted to Buy at Zacks Investment Research (americanbankingnews.com)
- FY2017 EPS Estimates for First Merchants Corporation Increased by DA Davidson (FRME) (americanbankingnews.com)
A number of equities analysts have recently weighed in on FRME shares. Zacks Investment Research raised shares of First Merchants Corporation from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Monday, October 30th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $47.00 price objective on shares of First Merchants Corporation in a research report on Sunday, October 29th. Piper Jaffray Companies reissued a “hold” rating on shares of First Merchants Corporation in a research report on Thursday, August 3rd. Finally, BidaskClub lowered shares of First Merchants Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.33.
Shares of First Merchants Corporation (NASDAQ:FRME) traded down $0.23 during mid-day trading on Friday, reaching $43.04. 112,248 shares of the company traded hands, compared to its average volume of 207,506. The firm has a market capitalization of $2,110.00, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 2.69 and a beta of 0.92. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.43. First Merchants Corporation has a 1 year low of $26.55 and a 1 year high of $44.36.
First Merchants Corporation (NASDAQ:FRME) last announced its quarterly earnings data on Thursday, October 26th. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.05). The business had revenue of $93.09 million during the quarter, compared to analyst estimates of $97.45 million. First Merchants Corporation had a return on equity of 10.38% and a net margin of 26.28%. sell-side analysts anticipate that First Merchants Corporation will post 2.3 earnings per share for the current fiscal year.
In other news, insider Mark K. Hardwick sold 1,851 shares of First Merchants Corporation stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $39.69, for a total value of $73,466.19. Following the transaction, the insider now owns 75,120 shares of the company’s stock, valued at approximately $2,981,512.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 66 shares of company stock worth $2,681 in the last ninety days. Corporate insiders own 1.41% of the company’s stock.
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First Merchants Corporation Company Profile
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).
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