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

by · The Cerbat Gem

First Merchants Co. (NASDAQ:FRMEP – Get Free Report) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 1,419 shares, a growth of 815.5% from the August 31st total of 155 shares. Based on an average daily trading volume, of 1,538 shares, the days-to-cover ratio is presently 0.9 days.

First Merchants Stock Performance

Shares of First Merchants stock traded down $0.05 on Friday, reaching $25.20. 1,457 shares of the company were exchanged, compared to its average volume of 1,713. The stock’s 50 day moving average price is $25.32 and its 200-day moving average price is $25.49. First Merchants has a 1-year low of $24.73 and a 1-year high of $27.09.

First Merchants Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 30th were issued a dividend of $0.4688 per share. This represents a $1.88 annualized dividend and a yield of 7.4%. The ex-dividend date was Thursday, July 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.

Featured Stories