First Merchants (NASDAQ:FRMEP) Stock Price Up 1.2% – Still a Buy?

First Merchants Co. (NASDAQ:FRMEP)’s share price was up 1.2% on Friday. The stock traded as high as $25.03 and last traded at $25.2140. 100 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,615 shares. The stock had previously closed at $24.92.

First Merchants Trading Up 1.2%

The company’s 50-day simple moving average is $25.20 and its 200-day simple moving average is $25.50.

First Merchants Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.4688 per share. The ex-dividend date is Friday, October 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.4%.

About First Merchants

First Merchants Corporation is a bank holding company headquartered in Muncie, Indiana. Through its subsidiary, First Merchants Bank, it provides commercial and consumer banking services, including deposit accounts, lending, treasury management and mortgage banking.

The company also offers wealth management and trust services, along with insurance and other financial solutions. Its banking operations primarily serve individuals, businesses and communities across Indiana and neighboring markets in Ohio, Michigan and Illinois.

First Merchants traces its banking roots to Muncie, where First National Bank was established in 1893.