First Merchants (NASDAQ:FRME – Get Free Report) issued its quarterly earnings results on Thursday. The bank reported $0.84 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.06), RTT News reports. First Merchants had a return on equity of 9.17% and a net margin of 17.77%. The firm had revenue of $265.95 million for the quarter, compared to analysts’ expectations of $160.55 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share.
First Merchants Trading Down 0.7 %
Shares of First Merchants stock traded down $0.25 during trading hours on Friday, hitting $35.75. The company’s stock had a trading volume of 264,108 shares, compared to its average volume of 250,839. First Merchants has a twelve month low of $25.74 and a twelve month high of $42.44. The firm has a fifty day moving average of $37.22 and a 200-day moving average of $35.50. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 10.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.86 and a current ratio of 0.87.
First Merchants Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Friday, September 6th. First Merchants’s dividend payout ratio (DPR) is presently 40.35%.
Analysts Set New Price Targets
Check Out Our Latest Analysis on FRME
First Merchants Company Profile
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.
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