Short Interest in First Merchants Co. (NASDAQ:FRMEP) Grows By 29,069.6%

First Merchants Co. (NASDAQ:FRMEP) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 6,709 shares, a growth of 29,069.6% from the June 15th total of 23 shares. Based on an average daily volume of 1,971 shares, the short-interest ratio is presently 3.4 days.

First Merchants Stock Performance

FRMEP traded down $0.29 during trading hours on Friday, hitting $25.51. 199 shares of the company’s stock were exchanged, compared to its average volume of 1,493. First Merchants has a 1-year low of $24.73 and a 1-year high of $27.09. The stock’s 50-day moving average is $25.40 and its two-hundred day moving average is $25.64.

First Merchants Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a dividend of $0.4688 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.88 annualized dividend and a 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.