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

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

First Merchants Stock Performance

FRMEP traded down $0.01 on Friday, reaching $26.14. 18 shares of the company’s stock were exchanged, compared to its average volume of 1,048. First Merchants has a twelve month low of $25.00 and a twelve month high of $27.09. The stock’s fifty day moving average price is $25.77 and its 200-day moving average price is $25.78.

First Merchants Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 16th. Investors of record on Friday, January 30th were given a dividend of $0.4688 per share. 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.