$98.35 Million in Sales Expected for First Merchants Co. (FRME) This Quarter

Equities research analysts expect that First Merchants Co. (NASDAQ:FRME) will report $98.35 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for First Merchants’ earnings, with estimates ranging from $95.20 million to $101.50 million. First Merchants posted sales of $75.85 million in the same quarter last year, which would indicate a positive year over year growth rate of 29.7%. The business is scheduled to report its next earnings results on Thursday, April 26th.

On average, analysts expect that First Merchants will report full year sales of $407.40 million for the current year, with estimates ranging from $398.80 million to $416.00 million. For the next financial year, analysts expect that the business will post sales of $438.55 million per share, with estimates ranging from $424.40 million to $452.70 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for First Merchants.

How to Become a New Pot Stock Millionaire

First Merchants (NASDAQ:FRME) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $97.83 million for the quarter, compared to analysts’ expectations of $98.30 million. First Merchants had a net margin of 24.90% and a return on equity of 9.47%.

Several analysts have weighed in on FRME shares. Piper Jaffray reaffirmed a “hold” rating and set a $48.00 price objective on shares of First Merchants in a research note on Sunday, January 28th. BidaskClub cut shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Zacks Investment Research cut shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $52.00 price objective on shares of First Merchants in a research note on Thursday, January 25th. Finally, ValuEngine raised shares of First Merchants from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $49.67.

In other news, insider Michael J. Stewart sold 2,219 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $42.60, for a total transaction of $94,529.40. Following the sale, the insider now directly owns 55,706 shares of the company’s stock, valued at $2,373,075.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 63 shares of company stock worth $2,661 over the last ninety days. Insiders own 1.41% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HBK Investments L P grew its stake in shares of First Merchants by 9.8% during the fourth quarter. HBK Investments L P now owns 16,800 shares of the bank’s stock valued at $707,000 after purchasing an additional 1,500 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of First Merchants by 1.3% during the fourth quarter. California Public Employees Retirement System now owns 131,665 shares of the bank’s stock valued at $5,538,000 after purchasing an additional 1,753 shares during the last quarter. American International Group Inc. grew its stake in shares of First Merchants by 8.1% during the third quarter. American International Group Inc. now owns 27,481 shares of the bank’s stock valued at $1,180,000 after purchasing an additional 2,055 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of First Merchants by 4.2% during the fourth quarter. Alliancebernstein L.P. now owns 54,500 shares of the bank’s stock valued at $2,292,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new stake in shares of First Merchants during the third quarter valued at approximately $172,000. 70.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Merchants stock opened at $41.91 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The stock has a market cap of $2,061.92, a price-to-earnings ratio of 17.39, a PEG ratio of 2.01 and a beta of 0.91. First Merchants has a 1-year low of $37.03 and a 1-year high of $45.42.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, March 1st. This represents a $0.72 annualized dividend and a yield of 1.72%. First Merchants’s dividend payout ratio is 29.88%.

WARNING: This article was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/04/14/98-35-million-in-sales-expected-for-first-merchants-co-frme-this-quarter.html.

First Merchants Company Profile

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as rents safe deposit facilities.

Get a free copy of the Zacks research report on First Merchants (FRME)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for First Merchants (NASDAQ:FRME)

Receive News & Ratings for First Merchants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Merchants and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply