First Merchants Co. (NASDAQ:FRME) Shares Sold by Zhang Financial LLC

Zhang Financial LLC decreased its stake in First Merchants Co. (NASDAQ:FRME) by 19.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,258 shares of the bank’s stock after selling 2,000 shares during the quarter. Zhang Financial LLC’s holdings in First Merchants were worth $306,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First Merchants by 27.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,337 shares of the bank’s stock worth $569,000 after buying an additional 3,335 shares in the last quarter. Phocas Financial Corp. lifted its stake in shares of First Merchants by 1.9% in the fourth quarter. Phocas Financial Corp. now owns 266,711 shares of the bank’s stock worth $9,890,000 after buying an additional 4,845 shares in the last quarter. Sapient Capital LLC purchased a new position in shares of First Merchants in the fourth quarter worth about $369,000. Soltis Investment Advisors LLC purchased a new position in shares of First Merchants in the fourth quarter worth about $256,000. Finally, Harbour Trust & Investment Management Co purchased a new position in shares of First Merchants in the fourth quarter worth about $203,000. Institutional investors and hedge funds own 73.92% of the company’s stock.

Wall Street Analysts Forecast Growth

FRME has been the topic of several research reports. StockNews.com downgraded shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. Raymond James raised their price target on shares of First Merchants from $33.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th.

Insiders Place Their Bets

In other First Merchants news, insider Stephan Fluhler sold 3,193 shares of First Merchants stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $33.17, for a total transaction of $105,911.81. Following the transaction, the insider now directly owns 24,070 shares of the company’s stock, valued at $798,401.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.32% of the stock is owned by insiders.

First Merchants Price Performance

Shares of FRME stock opened at $34.07 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50-day moving average is $33.73 and its two-hundred day moving average is $32.84. First Merchants Co. has a 12 month low of $24.52 and a 12 month high of $38.16. The company has a market capitalization of $2.02 billion, a PE ratio of 9.11 and a beta of 1.08.

First Merchants (NASDAQ:FRME) last issued its earnings results on Thursday, January 25th. The bank reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. First Merchants had a net margin of 22.39% and a return on equity of 10.97%. The company had revenue of $156.51 million for the quarter, compared to the consensus estimate of $158.50 million. Analysts predict that First Merchants Co. will post 3.35 earnings per share for the current year.

First Merchants Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Thursday, February 29th. First Merchants’s dividend payout ratio (DPR) is presently 36.36%.

About First Merchants

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.