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

First Merchants Co. (NASDAQ:FRMEP) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 155 shares, an increase of 675.0% from the August 15th total of 20 shares. Based on an average trading volume of 1,075 shares, the short-interest ratio is currently 0.1 days.

First Merchants Stock Up 0.6%

FRMEP stock opened at $25.18 on Friday. The business has a fifty day moving average price of $25.40 and a 200 day moving average price of $25.54. First Merchants has a fifty-two week low of $24.73 and a fifty-two week high of $27.09.

First Merchants Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 30th were paid a $0.4688 dividend. The ex-dividend date was Thursday, July 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.4%.

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.