First Merchants Corp Sentiment Increases on Better Stock Potential

Sentiment for First Merchants Corp (NASDAQ:FRME)

First Merchants Corp (NASDAQ:FRME) institutional sentiment increased to 1.32 in 2018 Q4. Its up 0.22, from 1.1 in 2018Q3. The ratio is positive, as 86 hedge funds increased or opened new stock positions, while 65 decreased and sold their positions in First Merchants Corp. The hedge funds in our partner’s database now have: 35.07 million shares, up from 34.72 million shares in 2018Q3. Also, the number of hedge funds holding First Merchants Corp in their top 10 stock positions was flat from 2 to 2 for the same number . Sold All: 13 Reduced: 52 Increased: 56 New Position: 30.

First Merchants Corporation operates as the financial holding firm for First Merchants Bank that provides community banking services. The company has market cap of $1.77 billion. 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. It has a 10.9 P/E ratio. The firm also provides personal and corporate trust, full-service brokerage, corporate, letters of credit, and repurchase agreements services.

The stock decreased 1.09% or $0.39 during the last trading session, reaching $35.53. About 230,513 shares traded or 26.79% up from the average. First Merchants Corporation (NASDAQ:FRME) has declined 0.34% since May 17, 2018 and is downtrending. It has underperformed by 4.71% the S&P500.

Analysts await First Merchants Corporation (NASDAQ:FRME) to report earnings on July, 24. They expect $0.79 earnings per share, down 1.25 % or $0.01 from last year’s $0.8 per share. FRME’s profit will be $39.24 million for 11.24 P/E if the $0.79 EPS becomes a reality. After $0.78 actual earnings per share reported by First Merchants Corporation for the previous quarter, Wall Street now forecasts 1.28 % EPS growth.

Pl Capital Advisors Llc holds 7.83% of its portfolio in First Merchants Corporation for 751,333 shares. Castine Capital Management Llc owns 214,185 shares or 2.51% of their US portfolio. Moreover, Cardinal Capital Management Llc Ct has 2.37% invested in the company for 1.88 million shares. The Connecticut-based Pier Capital Llc has invested 1.5% in the stock. Dean Capital Management, a Kansas-based fund reported 44,582 shares.

Since January 1, 0001, it had 14 insider purchases, and 0 insider sales for $49,812 activity.

First Merchants Corporation (NASDAQ:FRME) Ratings Coverage

Ratings analysis reveals 100% of First Merchants’s analysts are positive. Out of 2 Wall Street analysts rating First Merchants, 2 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $42 while the high is $47. The stock’s average target of $44.50 is 25.25% above today’s ($35.53) share price. FRME was included in 2 notes of analysts from November 19, 2018. Sandler O’Neill upgraded First Merchants Corporation (NASDAQ:FRME) on Monday, November 19 to “Buy” rating.

More notable recent First Merchants Corporation (NASDAQ:FRME) news were published by: Globenewswire.com which released: “First Merchants Corporation Announces 5.4 Percent Increase in First Quarter 2019 Earnings Per Share – GlobeNewswire” on April 25, 2019, also Finance.Yahoo.com with their article: “First Merchants Corp (FRME) Q1 2019 Earnings Call Transcript – Yahoo Finance” published on April 25, 2019, Nasdaq.com published: “First Merchants Corporation to Report First Quarter 2019 Financial Results, Host Conference Call and Webcast – Nasdaq” on April 04, 2019. More interesting news about First Merchants Corporation (NASDAQ:FRME) were released by: Finance.Yahoo.com and their article: “Could First Merchants Corporation’s (NASDAQ:FRME) Investor Composition Influence The Stock Price? – Yahoo Finance” published on May 09, 2019 as well as Nasdaq.com‘s news article titled: “First Merchants (FRME) Earnings Expected to Grow: Should You Buy? – Nasdaq” with publication date: April 18, 2019.

First Merchants Corporation (NASDAQ:FRME) Institutional Positions Chart

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