Raymond James Maintains Outperform on First Merchants, Raises Price Target to $40
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Raymond James analyst Daniel Tamayo maintains First Merchants (NASDAQ:FRME) with a Outperform and raises the price target from $33 to $40.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/12/2024 | $35.00 → $38.00 | Market Perform | Hovde Group |
| 8/7/2024 | $45.00 → $38.00 | Overweight → Equal-Weight | Stephens |
| 2/21/2023 | $50.00 | Strong Buy → Outperform | Raymond James |
| 7/7/2022 | Outperform → Strong Buy | Raymond James | |
| 12/13/2021 | $47.00 | Market Perform → Outperform | Hovde Group |
| 7/29/2021 | $48.00 | Neutral → Buy | Janney |
| 7/28/2021 | $55.00 → $47.00 | Outperform | Raymond James |
First Merchants (NASDAQ:FRME) reported quarterly earnings of $0.68 per share which missed the analyst consensus estimate of $0.80 by 15 percent. The company reported quarterly sales of $159.905 million which missed the analyst consensus estimate of $160.510 million by 0.38 percent. This is a 2.59 percent decrease over sales of $164.154 million the same period last year.
First Merchants Corporation announced that Jean L. Wojtowicz has been appointed as First Merchants Corporation and First Merchants Bank Chair of the Board of Directors. Effective May 7, 2024, Wojtowicz succeeds Charles E. Schalliol, who retired after serving as Chair for the past seventeen years.Schalliol said, "It has been my pleasure to serve as Chair of the Board of First Merchants for the past 17 years during which time First Merchants has enjoyed unprecedented success. I am confident that Jean will do an excellent job building on that success.""Leading this esteemed board is a privilege I take seriously," says Wojtowicz. "The financial landscape is ever-changing. As Chair, I am committe
Piper Sandler analyst Scott Siefers maintains First Merchants (NASDAQ:FRME) with a Overweight and raises the price target from $41 to $42.5.
Hovde Group resumed coverage of First Merchants with a rating of Market Perform and set a new price target of $38.00 from $35.00 previously
Stephens downgraded First Merchants from Overweight to Equal-Weight and set a new price target of $38.00 from $45.00 previously
Raymond James downgraded First Merchants from Strong Buy to Outperform and set a new price target of $50.00
4 - FIRST MERCHANTS CORP (0000712534) (Issuer)
4 - FIRST MERCHANTS CORP (0000712534) (Issuer)
4 - FIRST MERCHANTS CORP (0000712534) (Issuer)
8-K - FIRST MERCHANTS CORP (0000712534) (Filer)
10-Q - FIRST MERCHANTS CORP (0000712534) (Filer)
13F-HR - FIRST MERCHANTS CORP (0000712534) (Filer)
MUNCIE, Ind., Nov. 13, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation declared a cash dividend on November 12, 2024 of $0.35 per share. The dividend is payable on December 20, 2024, to shareholders of record as of December 6, 2024. For purposes of broker trading, the ex-date of the cash dividend is December 5, 2024. About First Merchants Corporation: First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank). First Merchants Corporation's common stock is traded on the NAS
MUNCIE, Ind., Oct. 24, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ - FRME) Third Quarter 2024 Highlights: Net income available to common stockholders was $48.7 million and diluted earnings per common share totaled $0.84, compared to $55.9 million and $0.94 in the third quarter of 2023, and $39.5 million and $0.68 in the second quarter of 2024. Excluding the loss from repositioning of the available for sale securities portfolio, adjusted net income was $55.6 million or $0.95 per share for the third quarter of 2024.Strong capital position with Common Equity Tier 1 Capital Ratio of 11.25% and Tangible Common Equity to Tangible Assets Ratio of 8.76%.Net interest margin was
MUNCIE, Ind., Oct. 15, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation has declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A, represented by depositary shares (NASDAQ:FRMEP) each representing a 1/100th interest in a share of the Series A preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend will be payable on November 15, 2024, to stockholders of record on October 31, 2024. About First Merchants Corporation: First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Ban
4 - FIRST MERCHANTS CORP (0000712534) (Issuer)
4/A - FIRST MERCHANTS CORP (0000712534) (Issuer)
4 - FIRST MERCHANTS CORP (0000712534) (Issuer)
MUNCIE, Ind., May 08, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation announced that Jean L. Wojtowicz has been appointed as First Merchants Corporation and First Merchants Bank Chair of the Board of Directors. Effective May 7, 2024, Wojtowicz succeeds Charles E. Schalliol, who retired after serving as Chair for the past seventeen years. Schalliol said, "It has been my pleasure to serve as Chair of the Board of First Merchants for the past 17 years during which time First Merchants has enjoyed unprecedented success. I am confident that Jean will do an excellent job building on that success." "Leading this esteemed board is a privilege I take seriously," says Wojtowicz. "The fina
MUNCIE, Ind., Feb. 8, 2023 /PRNewswire/ -- First Merchants Corporation, an $18 billion financial holding company, has appointed Dr. Mung Chiang to the Board of Directors of First Merchants Corporation and First Merchants Bank. Dr. Chiang, President of Purdue University, is a strong advocate of partnerships that effectively drive strong and sustained economic growth and vitality in Indiana and across the Midwest. "First Merchants' Board of Directors is pleased to welcome Dr. Chiang as our newest Board member," said Board Chairman Charles E. Schalliol. "I believe First Merchants
MUNCIE, Ind., Feb. 08, 2023 (GLOBE NEWSWIRE) -- First Merchants Corporation, an $18 billion financial holding company, has appointed Dr. Mung Chiang to the Board of Directors of First Merchants Corporation and First Merchants Bank. Dr. Chiang, President of Purdue University, is a strong advocate of partnerships that effectively drive strong and sustained economic growth and vitality in Indiana and across the Midwest. "First Merchants' Board of Directors is pleased to welcome Dr. Chiang as our newest Board member," said Board Chairman Charles E. Schalliol. "I believe First Merchants' shareholders and clients will share our enthusiasm in welcoming Mung's executive leadership and business ac
SC 13G/A - FIRST MERCHANTS CORP (0000712534) (Subject)
SC 13G/A - FIRST MERCHANTS CORP (0000712534) (Subject)
SC 13G/A - FIRST MERCHANTS CORP (0000712534) (Subject)
MUNCIE, Ind., Nov. 13, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation declared a cash dividend on November 12, 2024 of $0.35 per share. The dividend is payable on December 20, 2024, to shareholders of record as of December 6, 2024. For purposes of broker trading, the ex-date of the cash dividend is December 5, 2024. About First Merchants Corporation: First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank). First Merchants Corporation's common stock is traded on the NAS
MUNCIE, Ind., Oct. 24, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ - FRME) Third Quarter 2024 Highlights: Net income available to common stockholders was $48.7 million and diluted earnings per common share totaled $0.84, compared to $55.9 million and $0.94 in the third quarter of 2023, and $39.5 million and $0.68 in the second quarter of 2024. Excluding the loss from repositioning of the available for sale securities portfolio, adjusted net income was $55.6 million or $0.95 per share for the third quarter of 2024.Strong capital position with Common Equity Tier 1 Capital Ratio of 11.25% and Tangible Common Equity to Tangible Assets Ratio of 8.76%.Net interest margin was
MUNCIE, Ind., Oct. 15, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation has declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A, represented by depositary shares (NASDAQ:FRMEP) each representing a 1/100th interest in a share of the Series A preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend will be payable on November 15, 2024, to stockholders of record on October 31, 2024. About First Merchants Corporation: First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Ban