Short Interest in First Merchants Co. (NASDAQ:FRMEP) Decreases By 64.5%

First Merchants Co. (NASDAQ:FRMEP) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 2,050 shares, a decrease of 64.5% from the July 15th total of 5,778 shares. Based on an average trading volume of 2,842 shares, the short-interest ratio is presently 0.7 days.

First Merchants Stock Performance

FRMEP stock traded up $0.10 during midday trading on Friday, hitting $25.30. 685 shares of the stock were exchanged, compared to its average volume of 1,709. The stock’s 50-day moving average price is $25.47 and its 200-day moving average price is $25.61. 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 company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 30th will be given a $0.4688 dividend. The ex-dividend date is Thursday, July 30th. This represents a $1.88 dividend on an annualized basis and a dividend 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.