First Merchants (NASDAQ:FRME – Get Free Report) released its quarterly earnings results on Thursday. The bank reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.06), RTT News reports. First Merchants had a net margin of 17.77% and a return on equity of 9.17%. The company had revenue of $265.95 million during the quarter, compared to the consensus estimate of $160.55 million. During the same quarter last year, the firm posted $0.94 EPS.
First Merchants Trading Down 0.7 %
FRME opened at $35.75 on Friday. The company has a market cap of $2.09 billion, a P/E ratio of 11.42 and a beta of 1.02. The company has a fifty day moving average price of $37.22 and a two-hundred day moving average price of $35.51. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.42. First Merchants has a 1-year low of $25.74 and a 1-year high of $42.44.
First Merchants Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Friday, September 6th. First Merchants’s payout ratio is 44.73%.
Analyst Ratings Changes
Get Our Latest Stock Report on FRME
About First Merchants
First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans.
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