First Merchants Co. (NASDAQ:FRMEP) Shares Shorted: Short Interest Down 76.9% in October

First Merchants Co. (NASDAQ:FRMEP) saw a significant decline in short interest during the month of October. As of October 30th, there was short interest totaling 268 shares, a decline of 76.9% from the October 15th total of 1,161 shares. Based on an average daily volume of 571 shares, the short-interest ratio is presently 0.5 days.

First Merchants Trading Up 0.3%

Shares of First Merchants stock opened at $25.29 on Thursday. The company has a 50-day simple moving average of $25.20 and a two-hundred day simple moving average of $25.49. First Merchants has a one year low of $24.73 and a one year high of $27.09.

First Merchants Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be given a $0.4688 dividend. The ex-dividend date of this dividend is Friday, October 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 is a bank holding company headquartered in Muncie, Indiana. Through its subsidiary, First Merchants Bank, it provides commercial and consumer banking services, including deposit accounts, lending, treasury management and mortgage banking. The company also offers wealth management and trust services, along with insurance and other financial solutions. Its banking operations primarily serve individuals, businesses and communities across Indiana and neighboring markets in Ohio, Michigan and Illinois.