First Merchants Co. (NASDAQ:FRMEP) Sees Significant Decline in Short Interest

First Merchants Co. (NASDAQ:FRMEP) saw a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 1,270 shares, a decrease of 25.6% from the January 29th total of 1,708 shares. Based on an average daily trading volume, of 239 shares, the short-interest ratio is currently 5.3 days. Based on an average daily trading volume, of 239 shares, the short-interest ratio is currently 5.3 days.

First Merchants Stock Down 0.0%

Shares of First Merchants stock traded down $0.01 during trading hours on Monday, hitting $25.84. 450 shares of the company’s stock traded hands, compared to its average volume of 927. First Merchants has a twelve month low of $25.00 and a twelve month high of $27.09. The stock has a 50 day simple moving average of $25.71 and a 200-day simple moving average of $25.73.

First Merchants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 16th. Shareholders of record on Friday, January 30th were issued a dividend of $0.4688 per share. The ex-dividend date was Friday, January 30th. This represents a $1.88 annualized dividend and a yield of 7.3%.

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.