The stock of First Merchants Corporation (NASDAQ:FRME) reached all time high today, Nov, 14 and still has $41.15 target or 29.00% above today’s $31.90 share price. This indicates more upside for the $1.36 billion company. This technical setup was reported by Barchart.com. If the $41.15 PT is reached, the company will be worth $394.40M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 148,131 shares traded hands or 39.53% up from the average. First Merchants Corporation (NASDAQ:FRME) has risen 36.13% since April 12, 2016 and is uptrending. It has outperformed by 31.15% the S&P500.
First Merchants Corporation (NASDAQ:FRME) Ratings Coverage
Out of 3 analysts covering First Merchants (NASDAQ:FRME), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. First Merchants has been the topic of 7 analyst reports since August 18, 2015 according to StockzIntelligence Inc. Stephens initiated the stock with “Equal-Weight” rating in Friday, October 2 report. The stock of First Merchants Corporation (NASDAQ:FRME) has “Overweight” rating given on Friday, January 29 by Stephens. DA Davidson initiated First Merchants Corporation (NASDAQ:FRME) on Thursday, July 21 with “Buy” rating. The stock of First Merchants Corporation (NASDAQ:FRME) has “Sell” rating given on Tuesday, August 18 by Zacks. The stock of First Merchants Corporation (NASDAQ:FRME) has “Neutral” rating given on Wednesday, December 16 by SunTrust. The company was maintained on Wednesday, September 28 by DA Davidson.
According to Zacks Investment Research, “FIRST MERCHANTS CORP. is a bank holding company engaged in conducting commercial banking business through the offices of its banking subsidiaries.”
Insitutional Activity: The institutional sentiment decreased to 1.1 in Q2 2016. Its down 1.11, from 2.21 in 2016Q1. The ratio turned negative, as 6 funds sold all First Merchants Corporation shares owned while 44 reduced positions. 8 funds bought stakes while 47 increased positions. They now own 30.26 million shares or 0.92% less from 30.54 million shares in 2016Q1.
Meeder Asset Mgmt has 0.01% invested in the company for 3,348 shares. Moreover, Schwab Charles has 0% invested in First Merchants Corporation (NASDAQ:FRME) for 139,168 shares. Vaughan Nelson Inv Mngmt L P, a Texas-based fund reported 1.93 million shares. Etrade Management Ltd Liability Com holds 0.05% of its portfolio in First Merchants Corporation (NASDAQ:FRME) for 39,201 shares. The Pennsylvania-based Pnc Finance Group has invested 0% in First Merchants Corporation (NASDAQ:FRME). Minerva Advisors Ltd holds 11,960 shares or 0.2% of its portfolio. Price T Rowe Associate Inc Md holds 0% of its portfolio in First Merchants Corporation (NASDAQ:FRME) for 28,768 shares. Advsrs Asset Inc accumulated 10,863 shares or 0% of the stock. Us Bancorporation De has 0% invested in the company for 36 shares. Allianz Asset Mgmt Ag accumulated 0.01% or 1.03M shares. Comml Bank Of Ny Mellon, a New York-based fund reported 232,858 shares. Moreover, Invesco Ltd has 0% invested in First Merchants Corporation (NASDAQ:FRME) for 116,289 shares. Blackrock Ltd Liability Co holds 166,152 shares or 0.01% of its portfolio. Susquehanna Gru Ltd Liability Partnership has 0% invested in the company for 44,103 shares. Emerald Mutual Fund Advisers owns 18,663 shares or 0.03% of their US portfolio.
Insider Transactions: Since June 1, 2016, the stock had 12 insider buys, and 2 insider sales for $217,876 net activity. Sherman Patrick A also bought $489 worth of First Merchants Corporation (NASDAQ:FRME) on Thursday, September 1. Lehman Gary also bought $1,661 worth of First Merchants Corporation (NASDAQ:FRME) shares. Stewart Michael J bought $909 worth of First Merchants Corporation (NASDAQ:FRME) on Friday, July 1. 14 First Merchants Corporation (NASDAQ:FRME) shares with value of $296 were bought by LORENTSON JEFFREY B. 5,000 shares were sold by MARTIN JOHN, worth $134,587.
More important recent First Merchants Corporation (NASDAQ:FRME) news were published by: Businesswire.com which released: “First Merchants Corporation Announces Record Third Quarter 2016 Results” on October 25, 2016, also Businesswire.com published article titled: “First Merchants Corporation to Report Third Quarter 2016 Financial Results …”, Businesswire.com published: “First Merchants Corporation to Report Second Quarter 2016 Financial Results …” on May 02, 2016. More interesting news about First Merchants Corporation (NASDAQ:FRME) was released by: Streetinsider.com and their article: “Form 8-K FIRST MERCHANTS CORP For: Nov 10” with publication date: November 10, 2016.
FRME Company Profile
First Merchants Corporation, incorporated on September 20, 1982, is a financial holding company. The Firm has a bank charter, First Merchants Bank, National Association (the Bank), which is opened for business in Muncie, Indiana. The Bank also operates Lafayette Bank and Trust, Ameriana Bank, Ameriana Financial Services and First Merchants Trust Company as divisions of First Merchants Bank, N.A. The Bank includes approximately 120 banking locations in approximately 30 Indiana, over two Illinois and over two Ohio counties. In addition to its branch network, the Company’s delivery channels include automated teller machines, check cards, remote deposit capture, interactive voice response systems and Internet technology. The Company, through the Bank, offers a range of financial services, including accepting time deposits, savings and demand deposits; making consumer, commercial, agri-business and real estate mortgage loans; renting safe deposit facilities; providing personal and corporate trust services; providing full-service brokerage, and providing other corporate services, letters of credit and repurchase agreements.
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