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First Merchants NasdaqGS:FRME Stock Report

Last Price

US$44.61

Market Cap

US$2.6b

7D

-0.1%

1Y

29.7%

Updated

14 Feb, 2025

Data

Company Financials +

First Merchants Corporation

NasdaqGS:FRME Stock Report

Market Cap: US$2.6b

FRME Stock Overview

Operates as the financial holding company for First Merchants Bank that provides community banking services. More details

FRME fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance2/6
Financial Health6/6
Dividends5/6

Rewards

Trading at 43.5% below our estimate of its fair value

Earnings are forecast to grow 8.55% per year

Pays a reliable dividend of 3.14%

Risk Analysis

Significant insider selling over the past 3 months


Community Narratives

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Narratives bring a range of perspectives from our community.

WA
Analyst Price Target
Consensus Narrative from 6 Analysts

Branch Sales And Technology Initiatives Will Improve Future Prospects

Key Takeaways Strategic restructuring through branch sales and technology initiatives is set to boost revenue and net margins, aligning with earnings growth goals. Focus on C&I loans and cost management, including deposit strategies, aims to stabilize interest margins and drive sustainable growth.
View narrative
US$45.50
FV
2.0% undervalued intrinsic discount
7.71%
Revenue growth p.a.
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0users have followed this narrative
16 days ago author updated this narrative

My Notes

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First Merchants Corporation Competitors

Provident Financial Services

NYSE:PFS

US$2.5b

WaFd

NasdaqGS:WAFD

US$2.4b

Renasant

NYSE:RNST

US$2.4b

First Financial Bancorp

NasdaqGS:FFBC

US$2.7b

Price History & Performance

Summary of share price highs, lows and changes for First Merchants
Historical stock prices
Current Share PriceUS$44.61
52 Week HighUS$46.13
52 Week LowUS$30.55
Beta1.08
1 Month Change10.50%
3 Month Change2.60%
1 Year Change29.72%
3 Year Change2.81%
5 Year Change8.54%
Change since IPO641.66%

Recent News & Updates

First Merchants Corporation: Earnings To Grow Thanks To Deposit Repricing, Strong Pipelines

Jan 20

Recent updates

First Merchants Corporation: Earnings To Grow Thanks To Deposit Repricing, Strong Pipelines

Jan 20

First Merchants (NASDAQ:FRME) Is Paying Out A Dividend Of $0.35

Nov 16
First Merchants (NASDAQ:FRME) Is Paying Out A Dividend Of $0.35

First Merchants Corporation: Decent Return Potential With Earnings Likely To Recover Next Year

Sep 18

First Merchants (NASDAQ:FRME) Is Paying Out A Dividend Of $0.35

Aug 22
First Merchants (NASDAQ:FRME) Is Paying Out A Dividend Of $0.35

First Merchants Corporation: An Attractive Way To Play The Banking Sector

Jun 21

Here's Why We Think First Merchants (NASDAQ:FRME) Is Well Worth Watching

Sep 24
Here's Why We Think First Merchants (NASDAQ:FRME) Is Well Worth Watching

First Merchants' (NASDAQ:FRME) Upcoming Dividend Will Be Larger Than Last Year's

May 31
First Merchants' (NASDAQ:FRME) Upcoming Dividend Will Be Larger Than Last Year's

First Merchants' (NASDAQ:FRME) Upcoming Dividend Will Be Larger Than Last Year's

May 14
First Merchants' (NASDAQ:FRME) Upcoming Dividend Will Be Larger Than Last Year's

If EPS Growth Is Important To You, First Merchants (NASDAQ:FRME) Presents An Opportunity

May 03
If EPS Growth Is Important To You, First Merchants (NASDAQ:FRME) Presents An Opportunity

First Merchants declares $0.32 dividend

Aug 10

First Merchants Non-GAAP EPS of $1.01 beats by $0.13, revenue of $156.94M beats by $1.6M

Jul 26

First Merchants: The Level One Acquisition Will Boost Earnings Power

Jun 07

First Merchants' (NASDAQ:FRME) Dividend Will Be Increased To US$0.32

May 14
First Merchants' (NASDAQ:FRME) Dividend Will Be Increased To US$0.32

Here's Why I Think First Merchants (NASDAQ:FRME) Might Deserve Your Attention Today

Mar 24
Here's Why I Think First Merchants (NASDAQ:FRME) Might Deserve Your Attention Today

Shareholder Returns

FRMEUS BanksUS Market
7D-0.1%-0.4%1.4%
1Y29.7%40.4%22.2%

Return vs Industry: FRME underperformed the US Banks industry which returned 38.9% over the past year.

Return vs Market: FRME exceeded the US Market which returned 21.5% over the past year.

Price Volatility

Is FRME's price volatile compared to industry and market?
FRME volatility
FRME Average Weekly Movement3.6%
Banks Industry Average Movement3.8%
Market Average Movement5.9%
10% most volatile stocks in US Market18.0%
10% least volatile stocks in US Market3.0%

Stable Share Price: FRME has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: FRME's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18932,162Mark Hardwickwww.firstmerchants.com

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans. It also provides personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services.

First Merchants Corporation Fundamentals Summary

How do First Merchants's earnings and revenue compare to its market cap?
FRME fundamental statistics
Market capUS$2.59b
Earnings (TTM)US$199.53m
Revenue (TTM)US$610.99m

13.0x

P/E Ratio

1.1x

P/B Ratio

Is FRME overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FRME income statement (TTM)
RevenueUS$610.99m
Cost of RevenueUS$0
Gross ProfitUS$610.99m
Other ExpensesUS$411.47m
EarningsUS$199.53m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

n/a

Earnings per share (EPS)3.44
Gross Margin100.00%
Net Profit Margin32.66%
Debt/Equity Ratio50.2%

How did FRME perform over the long term?

See historical performance and comparison

Dividends

3.1%

Current Dividend Yield

41%

Payout Ratio

Does FRME pay a reliable dividends?

See FRME dividend history and benchmarks
When do you need to buy FRME by to receive an upcoming dividend?
First Merchants dividend dates
Ex Dividend DateMar 07 2025
Dividend Pay DateMar 21 2025
Days until Ex dividend20 days
Days until Dividend pay date34 days

Does FRME pay a reliable dividends?

See FRME dividend history and benchmarks

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/14 05:28
End of Day Share Price 2025/02/14 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

First Merchants Corporation is covered by 10 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kevin ReeveyD.A. Davidson & Co.
Brendan NosalHovde Group, LLC
Brian MartinJanney Montgomery Scott LLC