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

First Merchants Co. (NASDAQ:FRMEP) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 2,050 shares, a drop of 64.5% from the July 15th total of 5,778 shares. Based on an average daily trading volume, of 2,842 shares, the days-to-cover ratio is currently 0.7 days.

First Merchants Stock Up 0.4%

FRMEP traded up $0.10 on Friday, hitting $25.30. 685 shares of the company traded hands, compared to its average volume of 1,709. The company has a 50 day moving average of $25.47 and a 200-day moving average of $25.61. First Merchants has a 12-month low of $24.73 and a 12-month high of $27.09.

First Merchants Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 30th will be given a dividend of $0.4688 per share. The ex-dividend date is Thursday, July 30th. This represents a $1.88 annualized dividend and a yield of 7.4%.

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.