First Merchants Corporation (FRME)Financial Services | Banks - Regional | Muncie, United States | NasdaqGS
39.06 USD
-0.19
(-0.484%) ⇩
(Oct. 13, 2026, 4 p.m.
EDT)
|
Hot Take ↕ | Oct. 10, 2026, 10:55 a.m. EDT
First Merchants presents a classic case of a 'value trap' candidate where the math looks attractive but the trajectory tells a different story. The stock trades at a discount to book value, which usually signals opportunity, yet the business has been in a multi-year decline with negative earnings growth and shrinking revenue per share. While the 3.74% dividend yield is compelling and the payout ratio remains sustainable at roughly 47%, this income is likely a compensation for the company's inability to generate capital appreciation. The recent news of a large institutional buyer is encouraging, but it cannot yet override the fundamental reality that the company is failing to grow its core metrics. With the price hovering below both the 50-day and 200-day moving averages, the technical trend remains bearish. This is a hold for income-focused investors who can stomach stagnation, but it lacks the explosive catalyst needed for a short-term momentum play or the robust growth engine required for a long-term compounding bet. |
| Model | MAE |
|---|---|
| AutoARIMA ✓ | 0.052169 |
| AutoETS | 0.052170 |
| AutoTheta | 0.052351 |
| MSTL | 0.054176 |
Forecast horizon: 45 days | Selected: AutoARIMA
| Forecast Reliability | |
|---|---|
| Score | 47% |
| H-stat | 5.43 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.230 |
| Excess Kurtosis | -1.24 |
| Attribute | Value |
|---|---|
| Sector | Financial Services |
| Ex Dividend Date | 2026-09-03 |
| Last Dividend Date | 2026-09-03 |
| Revenue per Share | 10.821 |
| Market Cap | 2,453,023,744 |
| Trailing P/E | 12.56 |
| Forward P/E | 8.74 |
| Beta | 0.88 |
| Profit Margins | 28.96% |
| Website | https://www.firstmerchants.com |
As of Oct. 10, 2026, 10:55 a.m. EDT: Speculator positioning is extremely light and ambiguous. Call volume and open interest are negligible across all expirations, with no meaningful bets on upside beyond the ATM strike. Put activity is similarly sparse, consisting of isolated contracts rather than a defensive wall. Implied volatility is elevated relative to the deep out-of-the-money strikes, suggesting a lack of consensus on a specific directional move rather than fear of a crash.
| Last Yield | 1yr Yield | 3yr Avg | 5yr Avg |
|---|---|---|---|
| 0.88% | 3.73% | 3.81% | 3.67% |
| Date | Dividend | Yield % |
|---|---|---|
| 2026-09-04 | 0.370000 | 0.879696 |
| 2026-06-05 | 0.370000 | 0.926622 |
| 2026-03-06 | 0.360000 | 0.958722 |
| 2025-12-05 | 0.360000 | 0.964372 |
| 2025-09-05 | 0.360000 | 0.877835 |
| 2025-06-06 | 0.360000 | 0.974290 |
| 2025-03-07 | 0.350000 | 0.847252 |
| 2024-12-06 | 0.350000 | 0.812819 |
| 2024-09-06 | 0.350000 | 0.961538 |
| 2024-06-07 | 0.350000 | 1.107595 |
| 2024-02-29 | 0.340000 | 1.024096 |
| 2023-11-30 | 0.340000 | 1.108575 |
| 2023-08-31 | 0.340000 | 1.139410 |
| 2023-06-01 | 0.340000 | 1.270553 |
| 2023-03-02 | 0.320000 | 0.798802 |
| 2022-12-01 | 0.320000 | 0.735632 |
| 2022-09-01 | 0.320000 | 0.802407 |
| 2022-06-02 | 0.320000 | 0.781441 |
| 2022-03-03 | 0.290000 | 0.664680 |
| 2021-12-02 | 0.290000 | 0.713056 |
| 2021-09-02 | 0.290000 | 0.710959 |
| 2021-06-03 | 0.290000 | 0.634573 |
| 2021-03-04 | 0.260000 | 0.588368 |
| 2020-12-03 | 0.260000 | 0.754279 |
| 2020-09-03 | 0.260000 | 1.025237 |
| 2020-06-04 | 0.260000 | 0.895625 |
| 2020-03-05 | 0.260000 | 0.769003 |
| 2019-12-05 | 0.260000 | 0.648864 |
| 2019-08-29 | 0.260000 | 0.723831 |
| 2019-05-17 | 0.260000 | 0.731776 |
| 2019-02-28 | 0.220000 | 0.544689 |
| 2018-12-06 | 0.220000 | 0.562516 |
| 2018-09-06 | 0.220000 | 0.460347 |
| 2018-05-31 | 0.220000 | 0.483623 |
| 2018-03-01 | 0.180000 | 0.434888 |
| 2017-11-30 | 0.180000 | 0.410959 |
| 2017-08-30 | 0.180000 | 0.459770 |
| 2017-05-31 | 0.180000 | 0.453515 |
| 2017-03-01 | 0.150000 | 0.368822 |
| 2016-11-30 | 0.150000 | 0.436936 |
| 2016-08-31 | 0.140000 | 0.515654 |
| 2016-06-01 | 0.140000 | 0.538462 |
| 2016-03-02 | 0.110000 | 0.481400 |
| 2015-12-02 | 0.110000 | 0.409531 |
| 2015-09-02 | 0.110000 | 0.422103 |
| 2015-06-03 | 0.110000 | 0.462185 |
| 2015-03-05 | 0.080000 | 0.352734 |
| 2014-12-03 | 0.080000 | 0.365631 |
| 2014-09-03 | 0.080000 | 0.396236 |
| 2014-06-04 | 0.080000 | 0.401606 |
| 2014-03-05 | 0.050000 | 0.227583 |
| 2013-12-04 | 0.050000 | 0.241429 |
| 2013-09-04 | 0.050000 | 0.292227 |
| 2013-05-30 | 0.050000 | 0.297974 |
| 2013-03-13 | 0.030000 | 0.197109 |
| 2012-11-29 | 0.030000 | 0.220751 |
| 2012-08-30 | 0.030000 | 0.214900 |
| 2012-05-31 | 0.030000 | 0.255754 |
| 2012-03-01 | 0.010000 | 0.090909 |
| 2011-12-01 | 0.010000 | 0.126263 |
| 2011-08-31 | 0.010000 | 0.131752 |
| 2011-06-02 | 0.010000 | 0.123153 |
| 2011-03-03 | 0.010000 | 0.111235 |
| 2010-12-02 | 0.010000 | 0.111359 |
| 2010-09-01 | 0.010000 | 0.124224 |
| 2010-06-03 | 0.010000 | 0.116144 |
| 2010-03-03 | 0.010000 | 0.166389 |
| 2009-12-02 | 0.080000 | 1.372213 |
| 2009-09-02 | 0.080000 | 1.204819 |
| 2009-06-03 | 0.080000 | 0.828157 |
| 2009-03-04 | 0.230000 | 2.491874 |
| 2008-12-03 | 0.230000 | 1.174668 |
| 2008-09-03 | 0.230000 | 1.171676 |
| 2008-06-04 | 0.230000 | 0.969237 |
| 2008-03-04 | 0.230000 | 0.889061 |
| 2007-12-04 | 0.230000 | 1.121404 |
| 2007-09-04 | 0.230000 | 1.045930 |
| 2007-06-04 | 0.230000 | 0.940311 |
| 2007-03-02 | 0.230000 | 0.992663 |
| 2006-12-04 | 0.230000 | 0.859813 |
| 2006-09-01 | 0.230000 | 0.951987 |
| 2006-06-01 | 0.230000 | 0.950413 |
| 2006-03-02 | 0.230000 | 0.906225 |
| 2005-12-02 | 0.230000 | 0.874525 |
| 2005-09-01 | 0.230000 | 0.861423 |
| 2005-06-02 | 0.230000 | 0.920000 |
| 2005-03-03 | 0.230000 | 0.873197 |
| 2004-12-02 | 0.230000 | 0.842491 |
| 2004-09-01 | 0.230000 | 0.953961 |
| 2004-06-02 | 0.230000 | 0.952381 |
| 2004-03-03 | 0.230000 | 0.909091 |
| 2003-12-03 | 0.230000 | 0.920000 |
| 2003-09-03 | 0.230000 | 0.852483 |
| 2003-06-04 | 0.219048 | 0.920002 |
| 2003-03-04 | 0.219048 | 0.986280 |
| 2002-12-04 | 0.219048 | 1.029085 |
| 2002-09-04 | 0.219048 | 0.858210 |
| 2002-06-06 | 0.208617 | 0.827339 |
| 2002-03-05 | 0.208617 | 0.980811 |
| 2001-12-04 | 0.208617 | 0.970465 |
| 2001-09-06 | 0.208617 | 0.958334 |
| 2001-06-04 | 0.198683 | 1.019957 |
| 2001-03-02 | 0.198683 | 0.994596 |
| 2000-12-04 | 0.198683 | 0.991248 |
| 2000-09-01 | 0.198683 | 1.045456 |
| 2000-06-06 | 0.190044 | 0.975068 |
| 2000-03-02 | 0.190044 | 0.907215 |
| 1999-12-02 | 0.190044 | 0.812932 |
| 1999-09-01 | 0.190044 | 0.941175 |
| 1999-06-02 | 0.172768 | 0.842108 |
| 1999-03-04 | 0.172768 | 0.909093 |
| 1998-11-18 | 0.172768 | 0.714288 |
| 1998-09-02 | 0.172768 | 0.789476 |
| 1998-06-03 | 0.161250 | 0.695654 |
| 1998-03-04 | 0.161250 | 0.727274 |
| 1997-12-03 | 0.161250 | 0.817520 |
| 1997-09-03 | 0.161250 | 0.899600 |
| 1997-06-04 | 0.138214 | 0.820513 |
| 1997-03-04 | 0.138214 | 0.800000 |
| 1996-12-04 | 0.138214 | 0.923077 |
| 1996-09-04 | 0.138214 | 0.923077 |
| 1996-06-04 | 0.115178 | 0.740739 |
| 1996-03-04 | 0.115178 | 0.754715 |
| 1995-12-04 | 0.115178 | 0.769228 |
| 1995-09-01 | 0.115178 | 0.754715 |
| 1995-06-01 | 0.107500 | 0.800002 |
| 1995-03-01 | 0.107500 | 0.848487 |
| 1994-11-30 | 0.107500 | 0.878433 |
| 1994-08-30 | 0.107500 | 0.875002 |
| 1994-05-31 | 0.095982 | 0.884956 |
| 1994-03-01 | 0.095982 | 0.840336 |
| 1993-11-30 | 0.095982 | 0.833334 |
| 1993-08-30 | 0.095982 | 0.854701 |
| 1993-06-01 | 0.084464 | 0.785713 |
| 1993-03-01 | 0.084464 | 0.758620 |
| 1992-08-31 | 0.084464 | 0.822429 |
| 1992-06-01 | 0.079345 | 0.861110 |
| 1992-03-02 | 0.079345 | 0.873238 |
| 1991-12-02 | 0.079345 | 1.016392 |
| 1991-08-30 | 0.079345 | 1.137613 |
| 1991-05-31 | 0.071667 | 1.076930 |
| 1991-02-28 | 0.071667 | 1.191497 |
| 1990-11-30 | 0.071667 | 1.287365 |
| 1990-08-30 | 0.071667 | 1.333342 |
| 1990-05-31 | 0.063988 | 0.970874 |
| 1990-02-28 | 0.063988 | 0.909091 |
| 1989-11-30 | 0.063988 | 1.041667 |
| 1989-08-30 | 0.063988 | 0.980393 |
| Attribute | Value |
|---|---|
| 52 Week Change | 0.060810804 |
| Address1 | 200 East Jackson Street |
| All Time High | 50.65 |
| All Time Low | 4.863086 |
| Ask | 50.07 |
| Ask Size | 2 |
| Audit Risk | 3 |
| Average Analyst Rating | 1.8 - Buy |
| Average Daily Volume10 Day | 526,420 |
| Average Daily Volume3 Month | 460,060 |
| Average Volume | 460,060 |
| Average Volume10Days | 526,420 |
| Beta | 0.881 |
| Bid | 28.03 |
| Bid Size | 2 |
| Board Risk | 3 |
| Book Value | 42.955 |
| City | Muncie |
| Compensation As Of Epoch Date | 1,767,139,200 |
| Compensation Risk | 4 |
| Country | United States |
| Crypto Tradeable | 0 |
| Currency | USD |
| Current Price | 39.06 |
| Custom Price Alert Confidence | HIGH |
| Date Short Interest | 1,790,726,400 |
| Day High | 39.625 |
| Day Low | 38.78 |
| Display Name | First Merchants |
| Dividend Date | 1,789,689,600 |
| Dividend Yield | 3.79 |
| Earnings Call Timestamp End | 1,792,699,200 |
| Earnings Call Timestamp Start | 1,792,699,200 |
| Earnings Growth | -0.287 |
| Earnings Quarterly Growth | -0.226 |
| Earnings Timestamp | 1,792,612,800 |
| Earnings Timestamp End | 1,792,612,800 |
| Earnings Timestamp Start | 1,792,612,800 |
| Ebitda Margins | 0.0 |
| Enterprise To Revenue | 5.396 |
| Enterprise Value | 3,465,000,704 |
| Eps Current Year | 3.85667 |
| Eps Forward | 4.47 |
| Eps Trailing Twelve Months | 3.11 |
| Esg Populated | 0 |
| Ex Dividend Date | 1,788,480,000 |
| Exchange | NMS |
| Exchange Data Delayed By | 15 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 41.412 |
| Fifty Day Average Change | -2.3519974 |
| Fifty Day Average Change Percent | -0.05679507 |
| Fifty Two Week Change Percent | 6.0810804 |
| Fifty Two Week High | 45.33 |
| Fifty Two Week High Change | -6.2700005 |
| Fifty Two Week High Change Percent | -0.138319 |
| Fifty Two Week Low | 34.66 |
| Fifty Two Week Low Change | 4.4000015 |
| Fifty Two Week Low Change Percent | 0.12694754 |
| Fifty Two Week Range | 34.66 - 45.33 |
| Financial Currency | USD |
| First Trade Date Milliseconds | 614,352,600,000 |
| Five Year Avg Dividend Yield | 3.47 |
| Float Shares | 61,562,979 |
| Forward Eps | 4.47 |
| Forward P E | 8.7382555 |
| Full Exchange Name | NasdaqGS |
| Full Time Employees | 2,086 |
| Fullday Change | -0.18999863 |
| Fullday Change Percent | -0.48407292 |
| Fullday Price | 39.06 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Governance Epoch Date | 1,790,812,800 |
| Gross Margins | 0.0 |
| Gross Profits | 642,190,976 |
| Has Pre Post Market Data | 1 |
| Held Percent Insiders | 0.02102 |
| Held Percent Institutions | 0.75545 |
| Implied Shares Outstanding | 62,801,423 |
| Industry | Banks - Regional |
| Industry Disp | Banks - Regional |
| Industry Key | banks-regional |
| Ir Website | https://www.firstmerchants.com/InvestorRelations |
| Is Earnings Date Estimate | 0 |
| Language | en-US |
| Last Dividend Date | 1,788,480,000 |
| Last Dividend Value | 0.37 |
| Last Fiscal Year End | 1,767,139,200 |
| Last Split Date | 1,061,942,400 |
| Last Split Factor | 105:100 |
| Long Business Summary | First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services. The company offers a range of financial services, including checking, savings, and deposit products; debit and credit cards; mortgages, refinance, construction or renovation of residential properties, agricultural lending, treasury management services and depository products. It also provides personal and commercial wealth management services, brokerage, investment management, private banking, fiduciary estate, and financial planning services. The company operates banking locations in Indiana, Ohio, and Michigan counties. It offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana. |
| Long Name | First Merchants Corporation |
| Market | us_market |
| Market Cap | 2,453,023,744 |
| Market State | PRE |
| Max Age | 86,400 |
| Message Board Id | finmb_272220 |
| Most Recent Quarter | 1,782,777,600 |
| Net Income To Common | 184,091,008 |
| Next Fiscal Year End | 1,798,675,200 |
| Non Diluted Market Cap | 2,515,196,991 |
| Number Of Analyst Opinions | 6 |
| Open | 39.5 |
| Operating Cashflow | 314,899,008 |
| Operating Margins | 0.34273 |
| Overall Risk | 3 |
| Payout Ratio | 0.4662 |
| Peg Ratio | 1.4 |
| Phone | 765 747 1500 |
| Previous Close | 39.25 |
| Price Eps Current Year | 10.127909 |
| Price Hint | 2 |
| Price To Book | 0.9093237 |
| Price To Sales Trailing12 Months | 3.819773 |
| Profit Margins | 0.28958 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | EQUITY |
| Recommendation Key | buy |
| Recommendation Mean | 1.83333 |
| Region | US |
| Regular Market Change | -0.189999 |
| Regular Market Change Percent | -0.484073 |
| Regular Market Day High | 39.625 |
| Regular Market Day Low | 38.78 |
| Regular Market Day Range | 38.78 - 39.625 |
| Regular Market Open | 39.5 |
| Regular Market Previous Close | 39.25 |
| Regular Market Price | 39.06 |
| Regular Market Time | 1,791,921,601 |
| Regular Market Volume | 302,034 |
| Return On Assets | 0.00931 |
| Return On Equity | 0.07372 |
| Revenue Growth | 0.028 |
| Revenue Per Share | 10.821 |
| Sand P52 Week Change | 0.17502642 |
| Sector | Financial Services |
| Sector Disp | Financial Services |
| Sector Key | financial-services |
| Share Holder Rights Risk | 4 |
| Shares Outstanding | 62,801,423 |
| Shares Percent Shares Out | 0.0385 |
| Shares Short | 2,419,335 |
| Shares Short Previous Month Date | 1,788,134,400 |
| Shares Short Prior Month | 1,854,283 |
| Short Name | First Merchants Corporation |
| Short Percent Of Float | 0.043899998 |
| Short Ratio | 4.85 |
| Source Interval | 15 |
| State | IN |
| Symbol | FRME |
| Target High Price | 48.0 |
| Target Low Price | 45.0 |
| Target Mean Price | 46.5 |
| Target Median Price | 46.0 |
| Total Cash | 665,652,992 |
| Total Cash Per Share | 10.599 |
| Total Debt | 1,652,504,960 |
| Total Revenue | 642,190,976 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 1.45 |
| Trailing Annual Dividend Yield | 0.036942676 |
| Trailing Eps | 3.11 |
| Trailing P E | 12.559486 |
| Trailing Peg Ratio | None |
| Triggerable | 1 |
| Two Hundred Day Average | 40.5766 |
| Two Hundred Day Average Change | -1.5165977 |
| Two Hundred Day Average Change Percent | -0.037376165 |
| Type Disp | Equity |
| Volume | 302,034 |
| Website | https://www.firstmerchants.com |
| Zip | 47,305-2814 |