First Merchants Co. (NASDAQ:FRMEP) Shares Shorted: Short Interest Up 815.5% in September

First Merchants Co. (NASDAQ:FRMEP) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totaling 1,419 shares, an increase of 815.5% from the August 31st total of 155 shares. Based on an average daily trading volume, of 1,538 shares, the short-interest ratio is currently 0.9 days.

First Merchants Stock Performance

Shares of NASDAQ FRMEP traded up $0.10 during mid-day trading on Thursday, reaching $25.30. The company’s stock had a trading volume of 1,009 shares, compared to its average volume of 1,715. First Merchants has a 52 week low of $24.73 and a 52 week high of $27.09. The stock has a fifty day moving average of $25.33 and a two-hundred day moving average of $25.49.

First Merchants Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 30th were issued a $0.4688 dividend. The ex-dividend date was Thursday, July 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.4%.

First Merchants Company Profile

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.