First Merchants Co. (NASDAQ:FRMEP) Short Interest Down 71.1% in April

First Merchants Co. (NASDAQ:FRMEP) saw a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 304 shares, a decline of 71.1% from the April 15th total of 1,051 shares. Based on an average daily volume of 812 shares, the days-to-cover ratio is presently 0.4 days.

First Merchants Stock Down 0.4%

Shares of FRMEP opened at $25.48 on Wednesday. The business’s 50 day moving average is $25.81 and its two-hundred day moving average is $25.79. First Merchants has a 52-week low of $24.73 and a 52-week high of $27.09.

First Merchants Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be issued a $0.4688 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $1.88 annualized dividend and a yield of 7.4%.

About First Merchants

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.