First Merchants Co. (NASDAQ:FRMEP) Sees Significant Growth in Short Interest
by Jessica Moore · The Cerbat GemFirst Merchants Co. (NASDAQ:FRMEP – Get Free Report) saw a significant growth in short interest in 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 Down 0.0%
NASDAQ:FRMEP traded down $0.01 during trading hours on Friday, hitting $26.14. The stock had a trading volume of 18 shares, compared to its average volume of 1,048. First Merchants has a 1-year low of $25.00 and a 1-year high of $27.09. The business has a 50 day simple moving average of $25.77 and a two-hundred day simple moving average of $25.78.
First Merchants Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 16th. Shareholders of record on Friday, January 30th were given a $0.4688 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.88 annualized dividend 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.