First Merchants Co. (NASDAQ:FRMEP) Sees Significant Decline in Short Interest

First Merchants Co. (NASDAQ:FRMEP) saw a significant decline in short interest in December. As of December 31st, there was short interest totaling 644 shares, a decline of 48.5% from the December 15th total of 1,251 shares. Based on an average daily trading volume, of 1,929 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 1,929 shares, the short-interest ratio is currently 0.3 days.

First Merchants Price Performance

Shares of FRMEP stock traded down $0.39 on Friday, hitting $25.86. 121 shares of the company’s stock were exchanged, compared to its average volume of 1,336. First Merchants has a 12 month low of $24.15 and a 12 month high of $26.41. The company has a 50 day moving average of $25.72 and a 200 day moving average of $25.63.

First Merchants Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 16th. Stockholders of record on Friday, January 30th will be given a $0.4688 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.3%.

First Merchants Company Profile

First Merchants Corporation (NASDAQ: FRMEP) is a bank holding company headquartered in Muncie, Indiana, offering a full suite of financial services through its subsidiary, First Merchants Bank. The company provides consumer and commercial banking products, including checking and savings accounts, business and real estate loans, treasury management, and digital banking solutions. First Merchants also offers mortgage origination, wealth management, trust services, and insurance brokerage through dedicated teams.

Incorporated in 1983, First Merchants traces its roots to Merchant’s National Bank of Muncie, which was founded in 1893.