Fundamentals Overview
First Merchants Corporation is in the middle of its 52-week range with low valuation, trading relatively flat today.
Valuation low
Intrinsic value (DCF)
+26.2% upside vs price
Profitability
Risk (Beta)
0.88 — in line vol
Earnings & growth
BullzEye Analysis
Our composite tilts Buy on technicals (e.g. RSI, ADX, trend), fundamentals, sentiment, sector and index context, and risk.
Composite Signal
Supporting (Buy):
DCF +26.2% upside vs price · Analyst grade: B+ · 3M vs Financial Services sector: +9%
Pressures (Sell):
Sentiment weakening (3 downgrades)
Not financial advice. For education and research only; do your own research and consider a financial advisor before investing.
Key Stats
About
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: 11, Strong Buy: 1.
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 $50.96; current price is $40.37. That’s a +26.2% 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) | 12.39 |
| DCF value (model) | $50.96 (26.2% upside) |
| PEG (TTM) | N/A |
| P/B (TTM) | 0.94 |
| P/S (TTM) | 2.44 |
| P/FCF (TTM) | 9.02 |
| Liquidity & enterprise | |
| Current Ratio (TTM) | 0.2 |
| Quick Ratio (TTM) | 0.2 |
| Cash Ratio (TTM) | 0.01 |
| Profitability | |
| ROE (TTM) | N/A |
| ROA (TTM) | N/A |
| Revenue growth (YoY) | N/A |
| Net margin (TTM) | 21.5% |
| Gross margin (TTM) | 60.99% |
| Operating margin (TTM) | 24.66% |
| 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
Stock Grades (Institutions)
| Institution | Action | Previous Grade | New Grade | Date |
|---|---|---|---|---|
| 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 |
| Raymond James | downgrade | Outperform | Market Perform | 2025-09-26 |
| Keefe, Bruyette & Woods | maintain | Outperform | Outperform | 2025-09-26 |
| Piper Sandler | maintain | Overweight | Overweight | 2025-07-28 |
| Piper Sandler | maintain | Overweight | Overweight | 2025-04-28 |
| Raymond James | maintain | Outperform | Outperform | 2025-04-28 |
| Keefe, Bruyette & Woods | maintain | Outperform | Outperform | 2025-04-25 |
| Raymond James | maintain | Outperform | Outperform | 2025-04-02 |
| Raymond James | maintain | Outperform | Outperform | 2025-01-31 |
| Keefe, Bruyette & Woods | maintain | Outperform | Outperform | 2025-01-31 |
| Piper Sandler | maintain | Overweight | Overweight | 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 |
| Raymond James | maintain | Outperform | Outperform | 2023-10-30 |
| Piper Sandler | maintain | Overweight | Overweight | 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 |
| Raymond James | downgrade | Strong Buy | Outperform | 2023-02-21 |
| Raymond James | maintain | Strong Buy | Strong Buy | 2023-01-30 |