First Merchants Corporation (NASDAQ:FRME) Relative Strength Index (RSI) is 48.53, with weekly volatility at 2.91% and ATR at 1.43. The FRME stock’s 52-week price range has touched low of $21.50 and a $50.65 high. Intraday shares traded counted 0.49 million, which was -200.11% lower than its 30-day average trading volume of 161.67K. Its shares traded higher over the last trading session, gaining 1.23% on 05/27/21. The shares fell to a low of $45.32 before closing at $46.15. FRME’s previous close was $45.59 while the outstanding shares total 53.93M. The firm has a beta of 1.33, a 12-month trailing P/E ratio of 15.23, and a growth ratio of 2.18.
Investors have identified the Banks – Regional company First Merchants Corporation as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $2.46 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Potential earnings growth for First Merchants Corporation (FRME)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 07/29/2021 quarter of the year, First Merchants Corporation recorded a total of 109.82 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -9.1% coming in sequential stages and their sales for the 07/29/2021 quarter reducing by -3.1%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 9.39 million trying to sell their products during the last quarter, with the result yielding a gross income of 100.43 million. This allows shareholders to hold on to 53.93M with the recently reported earning now reading 0.92 cents per share. This is a figure that compared to analyst’s prediction for their 07/29/2021 (0.91 cents a share).
Having a look at the company’s valuation, the company is expected to record 3.34 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on FRME sounds very interesting.
Is the stock of FRME attractive?
In related news, Chief Executive Officer, HARDWICK MARK K sold 8,090 shares of the company’s stock in a transaction that recorded on May 26. The sale was performed at an average price of 45.36, for a total value of 366,969. As the sale deal closes, the Director, Becher Michael R now sold 1,100 shares of the company’s stock, valued at 50,644. Also, Director, Sherman Patrick A bought 11 shares of the company’s stock in a deal that was recorded on May 03. The shares were price at an average price of 46.82 per share, with a total market value of 500. Following this completion of acquisition, the Director, Sherman Patrick A now holds 11 shares of the company’s stock, valued at 500. In the last 6 months, insiders have changed their ownership in shares of company stock by 1.30%.
3 out of 6 analysts covering the stock have rated it a Buy, while 2 have maintained a Hold recommendation on First Merchants Corporation. 0 analysts has assigned a Sell rating on the FRME stock. The 12-month mean consensus price target for the company’s shares has been set at $52.50.