First Merchants Corporation

Company Profile

First Merchants Corporation had its IPO on 1992-02-25 under the ticker symbol FRME.

The company operates in the Financial Services sector and Banks-Regional industry. First Merchants Corporation has a staff strength of 2,124 employees.

Stock update

Shares of First Merchants Corporation opened at $27.12 at the start of the last trading session i.e. 2023-06-02.

The stocks traded within a range of $27.08 - $28.58, and closed at $28.52.

This is a +6.58% increase from the previous day's closing price.

A total volume of 228,905 shares were traded at the close of the day’s session.

In the last one week, shares of First Merchants Corporation have increased by +5.14%.

First Merchants Corporation's Key Ratios

First Merchants Corporation has a market cap of $1.60 billion, indicating a price to book ratio of 1.2615 and a price to sales ratio of 4.1064.

In the last 12-months First Merchants Corporation’s revenue was $652.33 million with a gross profit of $611.39 million and an EBITDA of $0. The EBITDA ratio measures First Merchants Corporation's overall financial performance and is widely used to measure its profitability.

In the trailing 12-month period, First Merchants Corporation’s operating margin was 47.08% while its return on assets stood at 1.41% with a return of equity of 12.09%.

In Q1, First Merchants Corporation’s quarterly earnings growth was a positive 17.6% while revenue growth was a positive 31.9%.

First Merchants Corporation’s PE and PEG Ratio

Forward PE

8.4818

Trailing PE

6.7406

PEG

2.68

Its diluted EPS in the last 12-months stands at $3.97 per share while it has a forward price to earnings multiple of 8.4818 and a PEG multiple of 2.68. A low price to earnings ratio can mean the stock is attractively valued while a high ratio suggests the stock may be overvalued.

The PEG on the other hand provides a broader view compared to the P/E ratio and gives greater insight into First Merchants Corporation’s profitability.

First Merchants Corporation stock is trading at a EV to sales ratio of 0 and a EV to EBITDA ratio of 0. Its price to sales ratio in the trailing 12-months stood at 4.1064.

First Merchants Corporation stock pays annual dividends of $1.28 per share, indicating a yield of 5.14% and a payout ratio of 31.03%.

Balance sheet and cash flow metrics

Total Assets

$18.18 billion

Total Liabilities

$11.98 million

Operating Cash Flow

$-217374000.00

Capital Expenditure

$0

Dividend Payout Ratio

31.03%

First Merchants Corporation ended 2023 with $18.18 billion in total assets and $0 in total liabilities. Its intangible assets were valued at $18.18 billion while shareholder equity stood at $2.12 billion.

First Merchants Corporation ended 2023 with $0 in deferred long-term liabilities, $11.98 million in other current liabilities, 7407000.00 in common stock, $1.06 billion in retained earnings and $712.00 million in goodwill. Its cash balance stood at $478.51 million and cash and short-term investments were $478.51 million. The company’s total short-term debt was $0 while long-term debt stood at $974.89 million.

First Merchants Corporation’s total current assets stands at $564.03 million while long-term investments were $4.06 billion and short-term investments were $1.79 billion. Its net receivables were $85.52 million compared to accounts payable of $11.98 million and inventory worth $0.

In 2023, First Merchants Corporation's operating cash flow was $-217374000.00 while its capital expenditure stood at $0.

Comparatively, First Merchants Corporation paid $0.31 in dividends in 2023.

Other key metrics

Current Trading Price

$28.52

52-Week High

$43.7924

52-Week Low

$24.2048

Analyst Target Price

$37.5

First Merchants Corporation stock is currently trading at $28.52 per share. It touched a 52-week high of $43.7924 and a 52-week low of $43.7924. Analysts tracking the stock have a 12-month average target price of $37.5.

Its 50-day moving average was $28.67 and 200-day moving average was $37.34 The short ratio stood at 2.97 indicating a short percent outstanding of 0%.

Around 138.8% of the company’s stock are held by insiders while 7495.7% are held by institutions.