$122.40 Million in Sales Expected for First Merchants Co. (NASDAQ:FRME) This Quarter

Wall Street analysts expect First Merchants Co. (NASDAQ:FRME) to announce $122.40 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for First Merchants’ earnings. The lowest sales estimate is $119.40 million and the highest is $125.00 million. First Merchants posted sales of $107.06 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.3%. The business is expected to report its next earnings report on Thursday, January 30th.

According to Zacks, analysts expect that First Merchants will report full year sales of $448.03 million for the current financial year, with estimates ranging from $437.70 million to $456.00 million. For the next financial year, analysts forecast that the firm will report sales of $493.60 million, with estimates ranging from $479.10 million to $507.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow First Merchants.

First Merchants (NASDAQ:FRME) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.08. First Merchants had a return on equity of 10.88% and a net margin of 29.88%. The firm had revenue of $111.05 million for the quarter, compared to the consensus estimate of $109.87 million.

Several research analysts have issued reports on FRME shares. BidaskClub raised First Merchants from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Raymond James increased their price target on First Merchants from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. ValuEngine raised First Merchants from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Zacks Investment Research downgraded First Merchants from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $43.50.

In other news, SVP Stephan Fluhler sold 3,873 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $38.98, for a total value of $150,969.54. Also, Director Charles E. Schalliol sold 7,300 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $37.98, for a total value of $277,254.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of FRME. First Trust Advisors LP increased its position in shares of First Merchants by 5.7% in the 1st quarter. First Trust Advisors LP now owns 168,710 shares of the bank’s stock valued at $6,217,000 after buying an additional 9,071 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of First Merchants in the 1st quarter valued at $151,000. Denali Advisors LLC bought a new stake in shares of First Merchants in the 2nd quarter valued at $125,000. Windsor Group LTD bought a new stake in shares of First Merchants in the 2nd quarter valued at $648,000. Finally, Virginia Retirement Systems ET AL increased its position in shares of First Merchants by 0.8% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 52,700 shares of the bank’s stock valued at $1,997,000 after buying an additional 400 shares in the last quarter. 75.87% of the stock is currently owned by institutional investors.

NASDAQ:FRME opened at $41.17 on Friday. The stock’s fifty day moving average price is $38.71 and its two-hundred day moving average price is $37.18. First Merchants has a 52-week low of $32.49 and a 52-week high of $42.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 12.79 and a beta of 1.05.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, December 5th. First Merchants’s dividend payout ratio (DPR) is currently 32.30%.

First Merchants Company Profile

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as rents safe deposit facilities.

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Earnings History and Estimates for First Merchants (NASDAQ:FRME)

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