FRME - First Merchants Corporation

FRME

$44.59 0.64 (-1.41%) Last updated: Jul 19, 2026 11:23

52-Week Range

$44.59

$34.66 $44.59 $45.33

Fundamentals Overview

First Merchants Corporation is near the high of its 52-week range with low valuation, trading relatively flat today.

Valuation low

P/E 13.7 P/B 1.02 P/S 2.67

Intrinsic value (DCF)

+18.9% upside vs price

Profitability

Net margin 18.9%

Risk (Beta)

0.85 — in line vol

Earnings & growth

EPS $3.26 Rev -6.1% Profit -50.7% vs prior qtr

BullzEye Analysis

Our composite tilts Hold on technicals (e.g. RSI, ADX, trend), fundamentals, sentiment, sector and index context, and risk.

Composite Signal

Sell

Buy

Hold — 62% confidence Risk: Moderate Volatility — Beta 0.85. Diversify and only invest what you can afford to lose.

Supporting (Buy):

DCF +18.9% upside vs price · Analyst grade: B+

Pressures (Sell):

Sentiment weakening (2 downgrades)

Not financial advice. For education and research only; do your own research and consider a financial advisor before investing.

Key Stats

Market Cap

$2.81B

P/E (TTM)

13.68

EPS (TTM)

$3.26

Dividend Yield

3.25%

52-Week Range

$34.66 - $45.33

Volume vs Avg

N/A

Beta

0.85

About

First Merchants Corporation operates as a financial holding entity, primarily conducting its business through its subsidiary, First Merchants Bank. This institution delivers a full spectrum of community banking solutions. It accepts various types of deposits, including term, savings, and checking accounts. The company also extends a wide array of lending products, such as consumer, commercial, agricultural business, and real estate mortgage loans, in addition to public finance options. Beyond st...

Sector: Financial Services

Headquarters: US

Employees: 2,086

IPO Date: Jun 1989

Website: www.firstmerchants.com

Beta: 0.85 (Less volatile than market)

Ratings & Grades at a Glance

Overall rating: B+. Recent institutional grades: majority downgrades. Current institutional positions: Equal Weight: 2, Market Perform: 1, Outperform: 15, Overweight: 12.

Financial story & AI narrative

Open this tab to load the financial story.

Valuation & Ratios

Valuation, liquidity, and profitability metrics are consolidated here (including ratios that previously appeared in the Financials story). Trailing (TTM) vs forward-looking (e.g. DCF) is noted on each line where it matters.

DCF vs price: DCF estimate is $53.01; current price is $44.59. That’s a +18.9% gap. When the gap is large (e.g. >20%), that’s divergence; when they’re close, that’s convergence. Differences can reflect growth expectations, sector premiums, or conservative vs. optimistic assumptions. Use DCF as one input alongside technicals and sentiment.

Metric	Value
Valuation
P/E (TTM)	13.68
DCF value (model)	$53.01 (18.9% upside)
PEG (TTM)	N/A
P/B (TTM)	1.02
P/S (TTM)	2.67
P/FCF (TTM)	10.02
Liquidity & enterprise
Current Ratio (TTM)	6.04
Quick Ratio (TTM)	6.04
Cash Ratio (TTM)	0.38
Profitability
ROE (TTM)	N/A
ROA (TTM)	N/A
Revenue growth (YoY)	N/A
Net margin (TTM)	18.9%
Gross margin (TTM)	60.47%
Operating margin (TTM)	21.2%
Debt to equity (TTM)	N/A

Latest News

News loads when you open this tab.

Price Target, Ratings & Grades

Analyst price targets, consensus, rating snapshot, and institutional grades for FRME.

Analyst Sentiment at a Glance

B+ Sentiment Weakening

Equal Weight 2Market Perform 1Outperform 15Overweight 12

1 upgrade, 2 downgrades

Consensus Target

$49.00

High Target

$49.00

Low Target

$49.00

Median Target

$49.00

Stock Grades (Institutions)

Institution	Action	Previous Grade	New Grade	Date
Piper Sandler	maintain	Overweight	Overweight	2026-06-26
Piper Sandler	maintain	Overweight	Overweight	2026-02-04
Piper Sandler	maintain	Overweight	Overweight	2025-10-27
Stephens & Co.	maintain	Equal Weight	Equal Weight	2025-09-29
Keefe, Bruyette & Woods	maintain	Outperform	Outperform	2025-09-26
Raymond James	downgrade	Outperform	Market Perform	2025-09-26
Piper Sandler	maintain	Overweight	Overweight	2025-07-28
Raymond James	maintain	Outperform	Outperform	2025-04-28
Piper Sandler	maintain	Overweight	Overweight	2025-04-28
Keefe, Bruyette & Woods	maintain	Outperform	Outperform	2025-04-25
Raymond James	maintain	Outperform	Outperform	2025-04-02
Piper Sandler	maintain	Overweight	Overweight	2025-01-31
Hovde Group	upgrade	Market Perform	Outperform	2025-01-31
Raymond James	maintain	Outperform	Outperform	2025-01-31
Keefe, Bruyette & Woods	maintain	Outperform	Outperform	2025-01-31
Keefe, Bruyette & Woods	maintain	Outperform	Outperform	2024-12-04
Piper Sandler	maintain	Overweight	Overweight	2024-10-28
Keefe, Bruyette & Woods	maintain	Outperform	Outperform	2024-08-28
Stephens & Co.	downgrade	Overweight	Equal Weight	2024-08-07
Piper Sandler	maintain	Overweight	Overweight	2024-07-29
Keefe, Bruyette & Woods	maintain	Outperform	Outperform	2024-07-29
Stephens & Co.	maintain	Overweight	Overweight	2024-07-26
Piper Sandler	maintain	Overweight	Overweight	2024-04-29
Raymond James	maintain	Outperform	Outperform	2024-01-29
Piper Sandler	maintain	Overweight	Overweight	2023-10-30
Raymond James	maintain	Outperform	Outperform	2023-10-30
Raymond James	maintain	Outperform	Outperform	2023-07-27
Stephens & Co.	maintain	Overweight	Overweight	2023-07-26
Raymond James	maintain	Outperform	Outperform	2023-04-26
Raymond James	maintain	Outperform	Outperform	2023-04-06