First Merchants Co. (NASDAQ:FRMEP) Short Interest Update

First Merchants Co. (NASDAQ:FRMEP) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 1,875 shares, an increase of 665.3% from the March 15th total of 245 shares. Based on an average daily volume of 1,355 shares, the days-to-cover ratio is presently 1.4 days.

First Merchants Stock Performance

First Merchants stock traded down $0.01 during mid-day trading on Friday, reaching $26.14. The stock had a trading volume of 18 shares, compared to its average volume of 1,048. The company has a 50-day moving average price of $25.77 and a two-hundred day moving average price of $25.79. First Merchants has a one year low of $25.00 and a one year high of $27.09.

First Merchants Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 16th. Investors of record on Friday, January 30th were paid a $0.4688 dividend. The ex-dividend date was Friday, January 30th. This represents a $1.88 dividend on an annualized basis and a yield of 7.2%.

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.