First Merchants Corporation FRME
At closeNov 6, 2026, 4:01 PM EST
After hours · Nov 6, 4:01 PM ET
- YTD
- +8.94%
- 1 year
- +14.56%
- Market cap
- 2.56B
- Revenue (ttm)
- 676.12M
- Profit margin
- 29.21%
- EPS (ttm)
- 3.22
- Shares out
- 62.68M
- P/E ratio
- 12.68
- Forward P/E
- 9.36
- Dividend
- 1.48 (3.60%)
- Ex-dividend date
- Sep 3, 2026
- YTD return
- +8.94%
- 1-year return
- +14.56%
- Volume
- 277.16K
- Avg volume
- 440.42K
- Open
- 40.71
- Previous close
- 41.06
- Day's range
- 40.67 – 41.18
- 52-week range
- 34.66 – 45.33
- Beta
- 0.90
- Analysts
- Buy
- Price target
- 46.33 (+13.5%)
- Earnings date
- Jan 25, 2027
YTD +3.32 (+8.85%)
Key statistics
- Enterprise value
- 3.44B
- PEG ratio
- 1.40
- Price / sales
- 3.78
- Price / book
- 0.97
- Dividend yield
- 3.60%
- Payout ratio
- 45.34%
- Revenue growth
- 21.00%
- Free cash flow
- 0
- Total cash
- 425.59M
- Total debt
- 1.26B
- Return on equity
- 7.82%
- Short % of float
- 4.22%
- 50-day average
- 40.58
- 200-day average
- 40.79
Analyst view
Consensus: buy
- Target (low)
- 45.00
- Target (mean)
- 46.33
- Target (high)
- 48.00
- Strong buy3
- Buy2
- Hold1
- Sell0
- Strong sell0
Next earnings
Jan 25, 2027
Expected Jan 25, 2027. Consensus EPS estimate 1.00.
Financials — quick view
Earnings
| Report date | Quarter ending | EPS estimate | EPS reported | Surprise | Surprise % |
|---|---|---|---|---|---|
| Jan 25, 2027 | Dec 30, 2026 | 1.00 | — | — | — |
| Oct 21, 2026 | Sep 30, 2026 | 1.04 | 1.10 | +0.06 | +5.77% |
| Jul 22, 2026 | Jun 30, 2026 | 1.02 | 0.74 | -0.28 | -27.45% |
| Apr 22, 2026 | Mar 31, 2026 | 0.96 | 0.46 | -0.50 | -52.08% |
| Jan 26, 2026 | Dec 31, 2025 | 0.96 | 0.98 | +0.02 | +2.08% |
| Oct 22, 2025 | Sep 30, 2025 | 0.962 | 0.99 | +0.03 | +2.91% |
Upgrades / downgrades
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Oct 6, 2026 | Raymond James | up | Market Perform | Outperform |
| Oct 5, 2026 | Piper Sandler | main | Overweight | Overweight |
| Jun 26, 2026 | Piper Sandler | main | Overweight | Overweight |
| Feb 4, 2026 | Piper Sandler | main | Overweight | Overweight |
| Oct 27, 2025 | Piper Sandler | main | Overweight | Overweight |
| Sep 29, 2025 | Stephens & Co. | reit | Equal-Weight | Equal-Weight |
About First Merchants Corporation
First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services. The company offers a range of financial services, including checking, savings, and deposit products; debit and credit cards; mortgages, refinance, construction or renovation of residential properties, agricultural lending, treasury management services and depository products. It also provides personal and commercial wealth management services, brokerage, investment management, private banking, fiduciary estate, and financial planning services. The company operates banking locations in Indiana, Ohio, and Michigan counties. It offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.
- Sector
- Financial Services
- Industry
- Banks - Regional
- Country
- United States
- Website
- firstmerchants.com
News
First Merchants Q3 2026 Earnings Call Transcript 
First Merchants Q3 Adj. EPS $1.10 Beats $1.04 Estimate, Sales $199.073M Miss $203.599M Estimate 
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46 
First Merchants Appoints Mike Stewart CEO, Effective 2027, Succeeding Mark Hardwick 
First Merchants Files For Mixed Shelf Offering; Size Not Disclosed 
Transcript: First Merchants Q2 2026 Earnings Conference Call 
First Merchants Q2 Adj. EPS $0.74 Misses $1.03 Estimate, Sales $196.097M Miss $202.780M Estimate 
Earnings Scheduled For July 22, 2026 - Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $51
- First Merchants Approves A Stock Repurchase Program Of Up To 3.1M Shares Of Common Stock
Your note
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Insider holders
| Insider | Relation | Latest transaction | Date | Shares held |
|---|---|---|---|---|
| FEHRING PATRICK J | Director | Stock Award(Grant) | Sep 29, 2025 | 120,485 |
| HARDWICK MARK K | Chief Executive Officer | Stock Award(Grant) | Aug 2, 2026 | 150,525 |
| KAWIECKI MICHELE | Chief Financial Officer | Stock Award(Grant) | Aug 2, 2026 | 74,412 |
| LEHMAN GARY J | Director | Stock Award(Grant) | Mar 30, 2026 | 53,775 |
| MARTIN JOHN J | Officer | Stock Award(Grant) | Aug 2, 2026 | 71,549 |
| MYERS LARRY W | Director | Stock Award(Grant) | Jun 29, 2026 | 90,269 |
Institution ownership
| Holder | % held | Shares | Value | Reported |
|---|---|---|---|---|
| Blackrock Inc. | 8.50% | 5,324,728 | 217.41M | Jun 29, 2026 |
| Dimensional Fund Advisors LP | 5.94% | 3,725,742 | 152.12M | Sep 29, 2026 |
| Vanguard Portfolio Management LLC | 5.43% | 3,402,832 | 138.94M | Jun 29, 2026 |
| Vanguard Capital Management LLC | 4.34% | 2,720,680 | 111.09M | Jun 29, 2026 |
| State Street Corporation | 4.07% | 2,551,308 | 104.17M | Jun 29, 2026 |
| Earnest Partners LLC | 3.47% | 2,174,024 | 88.77M | Jun 29, 2026 |
Fund ownership
| Holder | % held | Shares | Value | Reported |
|---|---|---|---|---|
| VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund | 3.04% | 1,903,958 | 77.74M | Jun 29, 2026 |
| iShares Trust-iShares Russell 2000 ETF | 2.66% | 1,668,550 | 68.13M | Sep 29, 2026 |
| VANGUARD INDEX FUNDS-Vanguard Small-Cap Index Fund | 2.19% | 1,375,470 | 56.16M | Jun 29, 2026 |
| HARBOR FUNDS-Harbor Small Cap Value Fund | 1.62% | 1,013,346 | 41.37M | Jul 30, 2026 |
| VANGUARD INDEX FUNDS-Vanguard Small-Cap Value Index Fund | 1.39% | 869,799 | 35.51M | Jun 29, 2026 |
| DFA INVESTMENT DIMENSIONS GROUP INC-U.S. Small Cap Value Portfolio | 1.34% | 841,426 | 34.36M | Jul 30, 2026 |