First Merchants Co. (NASDAQ:FRMEP) Short Interest Up 675.0% in August

First Merchants Co. (NASDAQ:FRMEP) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 155 shares, a growth of 675.0% from the August 15th total of 20 shares. Based on an average daily trading volume, of 1,075 shares, the short-interest ratio is currently 0.1 days.

First Merchants Stock Up 0.0%

Shares of NASDAQ:FRMEP opened at $25.15 on Friday. First Merchants has a fifty-two week low of $24.73 and a fifty-two week high of $27.09. The firm has a 50-day simple moving average of $25.39 and a 200 day simple moving average of $25.54.

First Merchants Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 30th were given a dividend of $0.4688 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Thursday, July 30th.

About First Merchants

First Merchants Corporation (NASDAQ: FRMEP) is a bank holding company headquartered in Muncie, Indiana, offering a full suite of financial services through its subsidiary, First Merchants Bank. The company provides consumer and commercial banking products, including checking and savings accounts, business and real estate loans, treasury management, and digital banking solutions. First Merchants also offers mortgage origination, wealth management, trust services, and insurance brokerage through dedicated teams.

Incorporated in 1983, First Merchants traces its roots to Merchant’s National Bank of Muncie, which was founded in 1893.