Price Don’t Lie: What Will Happen to First Merchants Corporation Next? The Stock Just Reaches 52-Week High

Price Don't Lie: What Will Happen to First Merchants Corporation Next? The Stock Just Reaches 52 Week High

The stock of First Merchants Corporation (NASDAQ:FRME) hit a new 52-week high and has $45.26 target or 37.00% above today’s $33.04 share price. The 7 months bullish chart indicates low risk for the $1.36 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $45.26 price target is reached, the company will be worth $503.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 168,732 shares traded hands or 47.22% up from the average. First Merchants Corporation (NASDAQ:FRME) has risen 34.61% since April 15, 2016 and is uptrending. It has outperformed by 29.99% 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. The firm has “Overweight” rating by Stephens given on Friday, January 29. The stock has “Buy” rating given by DA Davidson on Thursday, July 21. The rating was initiated by Stephens with “Equal-Weight” on Friday, October 2. The firm has “Sell” rating given on Tuesday, August 18 by Zacks. The rating was initiated by SunTrust on Wednesday, December 16 with “Neutral”. The firm earned “Buy” rating 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 worsened, 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.
Pub Employees Retirement Association Of Colorado reported 280,000 shares or 0.06% of all its holdings. Blackrock Institutional Tru Comm Na has 0% invested in the company for 1.12 million shares. Amer Group Incorporated accumulated 0.02% or 13,042 shares. Allianz Asset Management Ag holds 0.01% or 1.03 million shares in its portfolio. 1St Advsrs accumulated 12,294 shares or 0.04% of the stock. Ronald Blue And Comm Ltd Liability holds 0.02% of its portfolio in First Merchants Corporation (NASDAQ:FRME) for 13,430 shares. Pl Cap Advsrs Ltd Limited Liability Company last reported 6.89% of its portfolio in the stock. Blackrock Advisors Limited Liability accumulated 19,472 shares or 0% of the stock. Ladenburg Thalmann accumulated 14,826 shares or 0.01% of the stock. Pinnacle Limited Liability Com accumulated 20,569 shares or 0% of the stock. The Germany-based Deutsche Bancshares Ag has invested 0% in First Merchants Corporation (NASDAQ:FRME). Smith Asset Mngmt Grp Inc Limited Partnership has 592 shares for 0% of their US portfolio. Susquehanna Gp Ltd Liability Partnership has invested 0% of its portfolio in First Merchants Corporation (NASDAQ:FRME). Pnc Fincl Group Incorporated last reported 0% of its portfolio in the stock. Geode Cap Mngmt Ltd Liability has 321,997 shares for 0% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 12 insider purchases, and 2 insider sales for $217,876 net activity. Sherman Patrick A also bought $509 worth of First Merchants Corporation (NASDAQ:FRME) shares. 64 shares with value of $1,675 were bought by Lehman Gary on Monday, August 1. On Thursday, August 25 the insider Stewart Michael J sold $95,324. MARTIN JOHN sold $134,587 worth of First Merchants Corporation (NASDAQ:FRME) on Thursday, August 18. 14 shares were bought by LORENTSON JEFFREY B, worth $296 on Friday, July 1.

More important recent First Merchants Corporation (NASDAQ:FRME) news were published by: Businesswire.com which released: “First Merchants Corporation Announces a 7% Increase in Cash Dividend” on November 16, 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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