First Merchants Corporation (FRME) to Issue Quarterly Dividend of $0.36 on December 19th

First Merchants Corporation (NASDAQ:FRME) announced a quarterly dividend on Friday, November 14th. Stockholders of record on Friday, December 5th will be given a dividend of 0.36 per share by the bank on Friday, December 19th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th.

First Merchants has decreased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 13 consecutive years. First Merchants has a payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Merchants to earn $4.06 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 35.5%.

First Merchants Trading Up 2.0%

Shares of FRME traded up $0.74 during trading hours on Wednesday, reaching $37.53. 139,582 shares of the company traded hands, compared to its average volume of 290,374. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 9.38 and a beta of 0.96. First Merchants has a 12-month low of $33.13 and a 12-month high of $45.62. The stock’s fifty day moving average price is $36.72 and its 200 day moving average price is $38.27. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.36.

First Merchants (NASDAQ:FRME) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. First Merchants had a net margin of 22.04% and a return on equity of 9.82%. The firm had revenue of $172.35 million during the quarter, compared to the consensus estimate of $172.78 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Sell-side analysts forecast that First Merchants will post 3.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of First Merchants by 361.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 771 shares of the bank’s stock valued at $30,000 after buying an additional 604 shares in the last quarter. Caldwell Trust Co acquired a new position in shares of First Merchants during the 2nd quarter worth approximately $50,000. GGM Financials LLC purchased a new stake in shares of First Merchants in the third quarter valued at about $64,000. Blue Trust Inc. lifted its holdings in First Merchants by 98.4% in the second quarter. Blue Trust Inc. now owns 1,784 shares of the bank’s stock valued at $68,000 after acquiring an additional 885 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of First Merchants during the third quarter valued at about $92,000. Institutional investors and hedge funds own 73.92% of the company’s stock.

First Merchants Company Profile

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans.