FRME - First Merchants Corp Stock Price, Fair Value and News

35.89USD+0.43 (+1.21%)Market Closed

Market Summary

USD35.89+0.43

Market Closed

1.21%

FRME Stock Price

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FRME RSI Chart

FRME Valuation

Market Cap

2.1B

Price/Earnings (Trailing)

10.13

Price/Sales (Trailing)

2.28

EV/EBITDA

2.57

Price/Free Cashflow

8.77

FRME Price/Sales (Trailing)

FRME Profitability

EBT Margin

25.84%

Return on Equity

9.33%

Return on Assets

1.13%

Free Cashflow Yield

11.41%

FRME Fundamentals

FRME Revenue

Revenue (TTM)

923.4M

Rev. Growth (Yr)

14.29%

Rev. Growth (Qtr)

-0.46%

FRME Earnings

Earnings (TTM)

207.6M

Earnings Growth (Yr)

-25.18%

Earnings Growth (Qtr)

12.86%

Breaking Down FRME Revenue

Last 7 days

0.7%

Last 30 days

9.2%

Last 90 days

2.9%

Trailing 12 Months

41.6%

How does FRME drawdown profile look like?

FRME Financial Health

Debt/Equity

0.31

Debt/Cashflow

0.35

FRME Investor Care

Dividend Yield

3.79%

Dividend/Share (TTM)

1.36

Buy Backs (1Y)

1.84%

Diluted EPS (TTM)

3.46

Historical Charts for Stock Metrics

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Net sales

Year	Q1	Q2	Q3	Q4
2024	923.4M	0	0	0
2023	701.9M	782.1M	847.9M	893.9M
2022	446.4M	474.2M	524.0M	605.0M
2021	438.5M	442.5M	449.9M	446.6M
2020	476.4M	473.0M	461.1M	448.5M
2019	423.1M	434.9M	448.2M	465.4M
2018	340.3M	369.7M	389.6M	407.9M
2017	260.3M	269.1M	289.6M	314.9M
2016	176.1M	237.0M	244.8M	253.3M
2015	160.2M	110.5M	113.7M	117.2M
2014	178.1M	189.0M	201.5M	208.9M
2013	176.2M	172.7M	168.1M	170.8M
2012	178.3M	176.8M	177.1M	175.9M
2011	194.2M	189.5M	185.1M	181.2M
2010	0	220.2M	209.9M	199.6M
2009	0	0	0	230.4M

Get all data in R, Python etc through our Historical Stock Data APIs

GRUFITY'S FAIR VALUE MODEL

Stocks Marked 'Very Cheap' by Grufity's Fair Value Model Have Outperformed Russell 2000 Index

Small Caps and Mid Caps are mostly overlooked by investors as all the focus goes to Magnificent 7. These stocks that are not part of the beauty contest require a deeper look. However, all large cap stocks were once small caps. Grufity's Fair Value model opens up this unverse as it separates high-performing, rewarding stocks from low-performing risky stocks. <b>Russell 2000 stocks that were marked 'Very Cheap' by the model doubled in three years while the index was flat.</b>

Returns of $10,000 invested in:

Very Cheap Stocks: $21,859
Russell 2000 Index: $10,334
Very Expensive Stocks: $8,224

Russell 2000 stocks considered 'Very Cheap' by the model greatly outperformed Russell 2000 index and the 'Very Expensive' bucket over past three years.

Russell 2000 Index

Very Expensive Stocks

Very Cheap Stocks

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Tracking the Latest Insider Buys and Sells of First Merchants Corp

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Apr 09, 2024	schalliol charles e	acquired	32,475	21.65	1,500	-
Apr 09, 2024	becher michael r	acquired	32,475	21.65	1,500	-
Mar 31, 2024	fehring patrick j.	acquired	22,650	34.9	649	-
Mar 31, 2024	fisher michael j	acquired	21,847	34.9	626	-
Mar 31, 2024	johnson kevin d	acquired	21,847	34.9	626	-
Mar 31, 2024	kellogg clark c	acquired	22,650	34.9	649	-
Mar 31, 2024	lehman gary	acquired	21,847	34.9	626	-
Mar 31, 2024	chiang mung	acquired	22,650	34.9	649	-
Mar 31, 2024	becher michael r	acquired	24,185	34.9	693	-
Mar 31, 2024	halderman howard	acquired	23,417	34.9	671	-

Which funds bought or sold FRME recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
May 15, 2024	CAROLINAS WEALTH CONSULTING LLC	unchanged	-	-196	3,141	-%
May 15, 2024	EJF Capital LLC	reduced	-85.2	-3,055,320	494,533	0.34%
May 15, 2024	BARCLAYS PLC	reduced	-24.19	-1,235,000	3,074,000	-%
May 15, 2024	DEUTSCHE BANK AG\	added	0.52	-122,307	2,145,620	-%
May 15, 2024	STATE STREET CORP	added	5.81	-269,870	64,918,900	-%
May 15, 2024	Graham Capital Management, L.P.	sold off	-100	-206,647	-	-%
May 15, 2024	MENDON CAPITAL ADVISORS CORP	new	-	349,000	349,000	0.19%
May 15, 2024	Royal Bank of Canada	reduced	-51.38	-621,000	524,000	-%
May 15, 2024	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	added	13.04	47,000	791,000	-%
May 15, 2024	GOLDMAN SACHS GROUP INC	reduced	-8.51	-4,394,350	27,237,700	-%

Are Funds Buying or Selling FRME?

Are funds buying FRME calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own FRME

No. of Funds

Unveiling First Merchants Corp's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2024	vanguard group inc	10.98%	6,571,539	SC 13G/A
Feb 09, 2024	dimensional fund advisors lp	5.1%	3,074,411	SC 13G
Jan 25, 2024	blackrock inc.	8.6%	5,176,638	SC 13G/A
Jul 10, 2023	earnest partners llc	4.8%	2,836,160	SC 13G/A
Feb 10, 2023	earnest partners llc	5.2%	3,080,102	SC 13G/A
Feb 09, 2023	vanguard group inc	10.79%	6,426,077	SC 13G/A
Feb 01, 2023	blackrock inc.	6.9%	4,127,631	SC 13G/A
Mar 10, 2022	earnest partners llc	5.0%	2,702,720	SC 13G/A
Feb 14, 2022	earnest partners llc	5.2%	2,783,471	SC 13G/A
Feb 10, 2022	vanguard group inc	9.80%	5,282,106	SC 13G/A

Recent SEC filings of First Merchants Corp

View All Filings

Date Filed	Form Type	Document
May 10, 2024	8-K	Current Report
May 10, 2024	8-K/A	Current Report
May 09, 2024	8-K	Current Report
May 08, 2024	8-K	Current Report
May 08, 2024	8-K	Current Report
May 01, 2024	10-Q	Quarterly Report
Apr 25, 2024	13F-HR	Fund Holdings Report
Apr 25, 2024	8-K	Current Report
Apr 25, 2024	8-K	Current Report
Apr 15, 2024	8-K	Current Report

Peers (Alternatives to First Merchants Corp)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JPM	580.6B	174.7B	10.55%	50.52%	11.53	3.32	53.11%	19.83%
BAC	304.4B	137.9B	8.26%	42.25%	12.16	2.21	56.12%	-12.56%
WFC	217.3B	85.8B	9.39%	62.33%	11.58	2.53	35.02%	26.14%
C	122.5B	125.0B	9.68%	41.85%	15.33	0.98	37.85%	-
CFG	16.8B	10.4B	11.70%	47.15%	11.72	1.61	26.22%	-33.87%
KEY	14.7B	8.1B	7.90%	66.17%	16.8	1.8	32.15%	-50.93%
MID-CAP
CMA	7.3B	4.2B	8.52%	62.72%	10.53	1.72	34.68%	-45.96%
ZION	6.7B	4.1B	11.66%	93.23%	10.59	1.63	32.93%	-30.73%
ABCB	3.5B	1.3B	11.39%	71.61%	12.26	2.64	30.60%	-12.99%
ASB	3.4B	2.0B	11.00%	55.39%	21.08	1.66	47.11%	-59.32%
SMALL-CAP
AMNB	497.6M	120.2M	6.68%	49.76%	19.02	4.14	45.65%	-13.98%
AROW	410.6M	173.1M	11.64%	37.59%	14.07	2.37	26.54%	-34.86%
ALRS	390.2M	152.4M	-1.20%	38.83%	39.25	2.56	16.94%	-73.84%
ACNB	288.6M	98.7M	3.06%	15.69%	9.81	2.92	6.27%	-22.90%
ASRV	46.8M	62.5M	18.70%	-3.87%	-15.83	0.75	18.83%	-145.18%

First Merchants Corp News

Latest updates

First Merchants Corp Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Income Statement (Quarterly)																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Revenue	-0.5%	236	237	229	221	206	191	163	141	110	110	114	113	110	113	106	109	120	126	118	113	109
EBITDA Margin	-7.6%	0.84*	0.91*	1.03*	1.13*	1.21*	1.30*	1.36*	1.40*	1.48*	1.48*	1.47*	1.42*	-	-	-	-	-	-	-	-	-
Interest Expenses	-2.3%	127	130	133	138	144	149	140	129	102	101	105	104	100	102	93.00	93.00	94.00	98.00	89.00	85.00	85.00
Income Taxes	54.2%	7.00	4.00	9.00	11.00	11.00	13.00	10.00	4.00	7.00	7.00	9.00	10.00	9.00	8.00	6.00	5.00	3.00	8.00	6.00	8.00	7.00
Earnings Before Taxes	16.8%	55.00	47.00	65.00	72.00	75.00	83.00	74.00	43.00	56.00	55.00	62.00	66.00	58.00	53.00	42.00	38.00	38.00	56.00	43.00	49.00	46.00
EBT Margin	-10.9%	0.26*	0.29*	0.35*	0.39*	0.39*	0.42*	0.43*	0.45*	0.53*	0.54*	0.53*	0.49*	-	-	-	-	-	-	-	-	-
Net Income	12.9%	48.00	42.00	56.00	61.00	64.00	71.00	64.00	39.00	49.00	51.00	53.00	56.00	49.00	45.00	36.00	33.00	34.00	48.00	37.00	41.00	39.00
Net Income Margin	-10.2%	0.22*	0.25*	0.30*	0.33*	0.34*	0.37*	0.39*	0.40*	0.47*	0.47*	0.45*	0.42*	-	-	-	-	-	-	-	-	-
Free Cashflow	-31.7%	59.00	86.00	59.00	36.00	78.00	140	50.00	45.00	50.00	54.00	66.00	42.00	-	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Assets	-0.5%	18,318	18,406	17,997	17,968	18,179	18,002	17,719	17,780	15,465	15,453	15,061	14,923	14,629	14,067	13,737	13,819	12,694	12,457	12,325	10,738	10,211
Cash Equivalents	-10.8%	101	113	125	109	126	123	120	213	148	167	169	168	188	193	165	230	128	177	202	128	116
Net PPE	-0.9%	133	134	132	114	116	117	116	118	106	106	105	104	109	111	113	113	114	113	113	92.00	92.00
Goodwill	0%	712	712	712	712	712	712	713	713	167	545	545	545	1.00	544	544	544	544	544	543	445	445
Liabilities	-0.4%	16,093	16,158	15,904	15,823	16,056	15,967	15,812	15,803	13,658	13,541	13,193	13,051	12,823	12,192	11,904	12,010	10,916	10,671	10,576	9,236	8,755
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	685	793	615
Shareholder's Equity	-1.0%	2,225	2,248	2,093	2,146	2,122	2,035	1,907	1,978	1,808	1,913	1,868	1,872	1,806	1,876	1,834	1,809	1,778	1,786	1,749	1,502	1,456
Retained Earnings	2.4%	1,182	1,155	1,133	1,097	1,057	1,013	962	917	898	865	833	796	756	789	758	735	717	697	663	639	611
Additional Paid-In Capital	-2.3%	1,208	1,237	1,234	1,234	1,232	1,229	1,227	1,226	987	986	989	1,009	1,007	1,005	1,004	1,003	1,001	1,055	1,053	841	840
Shares Outstanding	-1.4%	59.00	59.00	59.00	59.00	59.00	59.00	59.00	59.00	53.00	53.00	54.00	54.00	-	-	-	-	-	-	-	-	-
Float	-	-	-	-	1,674	-	-	-	2,104	-	-	-	2,249	-	-	-	1,483	-	-	-	1,874	-

Cashflow (Last 12 Months)

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Cashflow (Quarterly)																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Cashflow From Operations	-31.7%	59.00	86.00	59.00	36.00	78.00	140	50.00	45.00	50.00	54.00	66.00	42.00	53.00	60.00	30.00	43.00	71.00	40.00	54.00	31.00	52.00
Share Based Compensation	2.6%	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00
Cashflow From Investing	132.2%	83.00	-257	-85.44	216	-217	-205	-125	59.00	-190	-418	-210	-235	-613	-372	60.00	-1,050	-189	-175	-74.05	-455	-300
Cashflow From Financing	-196.8%	-153	159	43.00	-268	143	69.00	-16.91	-39.12	121	362	146	173	555	341	-154	1,109	68.00	110	95.00	437	226
Dividend Payments	-0.9%	20.00	20.00	20.00	20.00	19.00	19.00	19.00	19.00	16.00	16.00	16.00	16.00	14.00	14.00	14.00	14.00	14.00	14.00	13.00	13.00	11.00
Buy Backs	-	30.00	-	-	-	-	-	-	-	-	5.00	21.00	-	-	-	-	-	56.00	-	19.00	-	-

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FRME Income Statement

2024-03-31

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Loans receivable:
Taxable	$ 198,023	$ 172,353
Tax exempt	8,190	7,709
Investment securities:
Taxable	8,748	9,087
Tax exempt	13,611	16,070
Deposits with financial institutions	6,493	637
Federal Home Loan Bank stock	835	542
Total Interest Income	235,900	206,398
INTEREST EXPENSE
Deposits	98,285	50,685
Federal funds purchased	0	1,297
Securities sold under repurchase agreements	1,032	848
Federal Home Loan Bank advances	6,773	7,064
Subordinated debentures and other borrowings	2,747	2,385
Total Interest Expense	108,837	62,279
NET INTEREST INCOME	127,063	144,119
Provision for credit losses	2,000	0
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	125,063	144,119
NONINTEREST INCOME
Net gains and fees on sales of loans	3,254	2,399
Increase in cash surrender value of life insurance	1,449	1,287
Gains on life insurance benefits	143	1
Net realized losses on sales of available for sale securities	(2)	(1,571)
Other income	497	823
Total Noninterest Income	26,638	24,997
NONINTEREST EXPENSES
Salaries and employee benefits	58,293	57,459
Net occupancy	7,312	7,259
Equipment	6,226	6,126
Marketing	1,198	1,309
Outside data processing fees	6,889	6,113
Printing and office supplies	353	383
Intangible asset amortization	1,957	2,197
FDIC assessments	4,287	1,396
Other real estate owned and foreclosure expenses	534	(18)
Professional and other outside services	3,952	3,698
Other expenses	5,934	7,798
Total Noninterest Expenses	96,935	93,720
INCOME BEFORE INCOME TAX	54,766	75,396
Income tax expense	6,825	11,317
NET INCOME	47,941	64,079
Preferred stock dividends	469	469
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	$ 47,472	$ 63,610
Per Share Data:
Basic Net Income Available to Common Stockholders (in dollars per share)	$ 0.80	$ 1.07
Diluted Net Income Available to Common Stockholders (in dollars per share)	0.80	1.07
Cash Dividends Paid (in dollars per share)	$ 0.34	$ 0.32
Average Diluted Common Shares Outstanding (in shares)	59,273,014	59,440,728
Service charges on deposit accounts
NONINTEREST INCOME
Other income	$ 7,907	$ 7,359
Fiduciary and wealth management fees
NONINTEREST INCOME
Other income	8,200	7,862
Card payment fees
NONINTEREST INCOME
Other income	4,500	5,172
Derivative hedge fees
NONINTEREST INCOME
Other income	263	1,148
Other customer fees
NONINTEREST INCOME
Other income	$ 427	$ 517

FRME Balance Sheet

2024-03-31

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and due from banks	$ 100,514	$ 112,649
Interest-bearing deposits	410,497	436,080
Investment securities available for sale	1,620,213	1,627,112
Investment securities held to maturity, net of allowance for credit losses of $245 and $245 (fair value of $1,820,451 and $1,870,374)	2,163,361	2,184,252
Loans held for sale	15,118	18,934
Loans	12,465,582	12,486,027
Less: Allowance for credit losses - loans	(204,681)	(204,934)
Net loans	12,260,901	12,281,093
Premises and equipment	132,706	133,896
Federal Home Loan Bank stock	41,758	41,769
Interest receivable	92,550	97,664
Goodwill	712,002	712,002
Other intangibles	25,142	27,099
Cash surrender value of life insurance	306,028	306,301
Other real estate owned	4,886	4,831
Tax asset, deferred and receivable	101,121	99,883
Other assets	331,006	322,322
TOTAL ASSETS	18,317,803	18,405,887
Deposits:
Noninterest-bearing	2,338,364	2,500,062
Interest-bearing	12,546,220	12,321,391
Total Deposits	14,884,584	14,821,453
Borrowings:
Securities sold under repurchase agreements	130,264	157,280
Federal Home Loan Bank advances	612,778	712,852
Subordinated debentures and other borrowings	118,612	158,644
Total Borrowings	861,654	1,028,776
Interest payable	19,262	18,912
Other liabilities	327,500	289,033
Total Liabilities	16,093,000	16,158,174
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS' EQUITY
Common stock value	7,321	7,428
Additional paid-in capital	1,208,447	1,236,506
Retained earnings	1,181,939	1,154,624
Accumulated other comprehensive loss	(198,029)	(175,970)
Total Stockholders' Equity	2,224,803	2,247,713
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	18,317,803	18,405,887
Cumulative Preferred Stock
STOCKHOLDERS' EQUITY
Preferred stock value	125	125
Series A Preferred Stock
STOCKHOLDERS' EQUITY
Preferred stock value	$ 25,000	$ 25,000

About First Merchants Corp

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, public finance, and real estate mortgage loans. It also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services. The company operates banking locations in Indiana, Illinois, Ohio, and Michigan counties. It also offers its services through electronic and mobile delivery channels. The company was founded in 1893 and is headquartered in Muncie, Indiana.

CEO	Mr. Mark K. Hardwick
WEBSITE	firstmerchants.com
INDUSTRY	Banks Diversified
EMPLOYEES	2124

First Merchants Corp Frequently Asked Questions

What is the ticker symbol for First Merchants Corp? What does FRME stand for in stocks?

FRME is the stock ticker symbol of First Merchants Corp. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of First Merchants Corp (FRME)?

As of Wed May 15 2024, market cap of First Merchants Corp is 2.1 Billion. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of FRME stock?

You can check FRME's fair value in chart for subscribers.

What is the fair value of FRME stock?

You can check FRME's fair value in chart for subscribers. The fair value of First Merchants Corp is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of First Merchants Corp is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for FRME so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is First Merchants Corp a good stock to buy?

The fair value guage provides a quick view whether FRME is over valued or under valued. Whether First Merchants Corp is cheap or expensive depends on the assumptions which impact First Merchants Corp's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for FRME.

What is First Merchants Corp's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Wed May 15 2024, FRME's PE ratio (Price to Earnings) is 10.13 and Price to Sales (PS) ratio is 2.28. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. FRME PE ratio will change depending on the future growth rate expectations of investors.

What is 5 year return on First Merchants Corp's stock?

In the past 10 years, First Merchants Corp has provided 0.082 (multiply by 100 for percentage) rate of return.