Short Interest in First Merchants Co. (NASDAQ:FRMEP) Declines By 48.5%

by · The Cerbat Gem

First Merchants Co. (NASDAQ:FRMEP – Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 644 shares, a decrease of 48.5% from the December 15th total of 1,251 shares. Based on an average daily volume of 1,929 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 1,929 shares, the short-interest ratio is presently 0.3 days.

First Merchants Stock Performance

Shares of NASDAQ FRMEP traded down $0.15 during mid-day trading on Thursday, hitting $26.10. 839 shares of the stock were exchanged, compared to its average volume of 1,444. First Merchants has a twelve month low of $24.15 and a twelve month high of $26.35. The stock’s fifty day simple moving average is $25.74 and its two-hundred day simple moving average is $25.63.

First Merchants Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 16th. Investors of record on Friday, January 30th will be paid a dividend of $0.4688 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Friday, January 30th.

First Merchants Company Profile

(Get Free Report)

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.

Recommended Stories