First Merchants Co. (NASDAQ:FRMEP) Short Interest Down 25.6% in February
by Tristan Rich · The Markets DailyFirst Merchants Co. (NASDAQ:FRMEP – Get Free Report) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 1,270 shares, a drop of 25.6% from the January 29th total of 1,708 shares. Based on an average daily volume of 239 shares, the short-interest ratio is currently 5.3 days. Based on an average daily volume of 239 shares, the short-interest ratio is currently 5.3 days.
First Merchants Price Performance
First Merchants stock remained flat at $25.99 during trading hours on Wednesday. 334 shares of the company’s stock were exchanged, compared to its average volume of 905. The company’s 50 day simple moving average is $25.73 and its two-hundred day simple moving average is $25.74. First Merchants has a 1-year low of $25.00 and a 1-year high of $27.09.
First Merchants Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, February 16th. Investors of record on Friday, January 30th were issued a dividend of $0.4688 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Friday, January 30th.
About First Merchants
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.