The stock of First Merchants Corporation (NASDAQ:FRME) reached all time high today, Nov, 24 and still has $36.56 target or 7.00% above today’s $34.17 share price. This indicates more upside for the $1.42 billion company. This technical setup was reported by Barchart.com. If the $36.56 PT is reached, the company will be worth $99.40M 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. The stock increased 0.41% or $0.14 on November 23, hitting $34.17. About 75,174 shares traded hands. First Merchants Corporation (NASDAQ:FRME) has risen 38.79% since April 22, 2016 and is uptrending. It has outperformed by 33.38% the S&P500.
Analysts await First Merchants Corporation (NASDAQ:FRME) to report earnings on January, 26. They expect $0.50 earnings per share, up 35.14% or $0.13 from last year’s $0.37 per share. FRME’s profit will be $20.78M for 17.09 P/E if the $0.50 EPS becomes a reality. After $0.51 actual earnings per share reported by First Merchants Corporation for the previous quarter, Wall Street now forecasts -1.96% negative EPS growth.
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 “Equal-Weight” rating given on Friday, October 2 by Stephens. On Tuesday, August 18 the stock rating was upgraded by Zacks to “Sell”. The stock of First Merchants Corporation (NASDAQ:FRME) has “Neutral” rating given on Wednesday, December 16 by SunTrust. As per Wednesday, September 28, the company rating was maintained by DA Davidson. As per Thursday, July 21, the company rating was initiated by DA Davidson. The stock of First Merchants Corporation (NASDAQ:FRME) has “Overweight” rating given on Friday, January 29 by Stephens.
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 increased to 1.56 in Q2 2016. Its up 0.46, from 1.1 in 2016Q1. The ratio improved, 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.
Cambridge Invest Advsr Inc reported 63,546 shares or 0.03% of all its holdings. Bankshares Of America De holds 0% or 116,531 shares in its portfolio. Victory Cap Mgmt Incorporated accumulated 5,562 shares or 0% of the stock. Prudential Finance, a New Jersey-based fund reported 298,152 shares. Parametric Port Assoc Limited Liability Co last reported 39,752 shares in the company. Susquehanna Group Ltd Liability Partnership last reported 44,103 shares in the company. Ladenburg Thalmann Fin Services accumulated 0.01% or 14,826 shares. Moreover, Wedge Cap Mngmt L L P Nc has 0.09% invested in First Merchants Corporation (NASDAQ:FRME) for 342,471 shares. Moreover, Blackrock Fund has 0.01% invested in First Merchants Corporation (NASDAQ:FRME) for 957,812 shares. Tiaa Cref Limited Liability Company holds 0% of its portfolio in First Merchants Corporation (NASDAQ:FRME) for 167,362 shares. Boston Advsr Limited Liability has 140,310 shares for 0.09% of their US portfolio. Invesco holds 116,289 shares or 0% of its portfolio. Pnc Fin Serv Group Inc owns 65,686 shares or 0% of their US portfolio. Etrade Mngmt Limited Com holds 39,201 shares or 0.05% of its portfolio. Cornercap Inv Counsel last reported 20,595 shares in the company.
Insider Transactions: Since June 1, 2016, the stock had 12 insider buys, and 3 sales for $473,046 net activity. $489 worth of First Merchants Corporation (NASDAQ:FRME) was bought by Sherman Patrick A. Lehman Gary bought $1,656 worth of stock or 61 shares. The insider Stewart Michael J sold 3,500 shares worth $95,324. On Friday, July 1 the insider LORENTSON JEFFREY B bought $296. Another trade for 7,700 shares valued at $255,170 was sold by HARDWICK MARK K. MARTIN JOHN sold $134,587 worth of stock or 5,000 shares.
More news for First Merchants Corporation (NASDAQ:FRME) were recently published by: Businesswire.com, which released: “First Merchants Corporation Announces a 7% Increase in Cash Dividend” on November 16, 2016. Businesswire.com‘s article titled: “First Merchants Corporation to Report Second Quarter 2016 Financial Results …” and published on May 02, 2016 is yet another important article.
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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