First Merchants Co. (NASDAQ:FRMEP) Short Interest Up 23.5% in December

First Merchants Co. (NASDAQ:FRMEP) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 1,251 shares, an increase of 23.5% from the November 30th total of 1,013 shares. Based on an average daily trading volume, of 394 shares, the short-interest ratio is currently 3.2 days. Based on an average daily trading volume, of 394 shares, the short-interest ratio is currently 3.2 days.

First Merchants Stock Down 0.8%

Shares of NASDAQ:FRMEP traded down $0.22 during trading on Wednesday, reaching $25.63. The company’s stock had a trading volume of 2,227 shares, compared to its average volume of 1,522. First Merchants has a 12 month low of $24.15 and a 12 month high of $26.27. The firm’s 50 day simple moving average is $25.81 and its two-hundred day simple moving average is $25.60.

First Merchants (NASDAQ:FRMEP) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $0.78 earnings per share for the quarter. The company had revenue of $127.43 million for the quarter.

First Merchants Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a $0.4688 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $1.88 annualized dividend and a dividend yield of 7.3%.

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.