Does Wall Street Rate First Merchants Corporation (FRME) Shares A Sell?


As of Wednesday close, First Merchants Corporation’s (NASDAQ:FRME) stock was down -$0.9, moving down -2.02 percent to $43.58. The average number of shares traded per day over the past five days has been 162,600 shares. 5 times new highs have been achieved over the past 5 days, with a $1.05 gain in that time frame. In the last twenty days, the average volume was 158,925, while in the previous 50 days, it was 173,000.

Since last month, FRME stock retreated -0.50%. Shares of the company fell to $41.81 on 11/17/22, the lowest level in the past month. A 52-week high of $46.12 was reached on 01/13/22 after having rallying from a 52-week low of $34.07. Since the beginning of this year, FRME’s stock price has risen by 4.03% or $1.69, and marked a new high 7 times. However, the stock has declined by -5.51% since its 52-week high.

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FRME stock investors should be aware that First Merchants Corporation (FRME) stock had its last reported insider trading activity 24 days ago on Oct 31. FLUHLER STEPHAN, the Chief Information Officer of the company, disposed of 3,174 shares for $44.29 on Oct 31. It resulted in a $140,576 divestment by the insider. Schalliol Charles E sold 24,523 shares at an average price of $44.25 on Oct 28. The insider now owns 32,020 shares following the transaction. On May 20, Director Fehring Patrick J. sold 10,400 shares at $38.40 apiece. The transaction was valued at $399,360.

Valuation Metrics

Right now, First Merchants Corporation (FRME) has a P/E ratio of about 12.41. The stock’s beta is 1.11. Besides these, the trailing price-to-sales (P/S) ratio of 4.80, the price-to-book (PB) ratio of 1.37, and the price-to-cash flow ratio of 20.74 may also be considered.

The latest dividend of $0.32 per share was paid out, remained unchanged from last year’s $0.32. On Thursday May 12 2022, a $0.03 dividend increase was announced.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.08. In the year ended September 29, operating margins totaled 87.00%. Based on annual data, FRME earned $410.68 million in gross profit and brought in $446.63 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 18.50%. Return on equity (ROE) for the past 12 months was 10.50%.

In First Merchants Corporation’s quarter-end financial report for September 29, it reported total debt of $1.17 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected First Merchants Corporation to report $1.09 quarterly earnings, the actual figure was $1.08 per share, beating the consensus estimate by -0.90%. The value of shareholders’ equity is $59.56 million.

Technical Picture

This quick technical analysis looks at First Merchants Corporation’s (FRME) price momentum. With a historical volatility rate of 29.66%, the RSI 9-day stood at 51.51% on 23 November.

With respect to its five-day moving average, the current First Merchants Corporation price is up by +2.47% percent or $1.05. At present, FRME shares trade -0.91% below its 20-day simple moving average and +21.16% percent above its 100-day simple moving average. However, the stock is currently trading approximately +9.06% above its SMA50 and -1.85% below its SMA200.

Stochastic coefficient K was 67.29% and Stochastic coefficient D was 58.31%, while ATR was 1.00. Given the Stochastic reading of 54.80% for the 14-day period, the RSI (14) reading has been calculated as 52.53%. As of today, the MACD Oscillator reading stands at 0.75, while the 14-day reading stands at 0.46.

Analyst Ratings

Raymond James upgraded its rating on First Merchants Corporation (NASDAQ: FRME) to a Strong buy in a note to investors on July 07, 2022. The analysts firm previously had an Outperform rating on the stock.First Merchants Corporation (FRME) has been rated Buy by analysts. According to 0 brokerage firms, FRME is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate First Merchants Corporation stock as buy, with 6 recommending it as overweight.

With a median target price of $50.00, the current consensus forecast for the stock is $49.00 – $52.00. Based on these forecasts, analysts predict First Merchants Corporation (FRME) will achieve an average price target of $50.50.


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