Ticker
    FRME

    Price
    34.03
    Stock movement up
    +0.40 (1.19%)
    Company name
    First Merchants Corporation
    Exchange
    (NASDAQ
    ,
    Currency
    USD
    )
    Sector
    Financial Services >
    Banks-Regional
    Market cap
    2.03B
    Ent value
    17.68B
    Price/Sales
    3.37
    Price/Book
    1.00
    Div yield
    4.00%
    Div growth
    9.79%
    Growth years
    9
    FCF payout
    45.06%
    Trailing P/E
    9.16
    Forward P/E
    7.86
    PEG
    1.31
    EPS growth
    14.36%
    1 year return
    7.69%
    3 year return
    -9.90%
    5 year return
    -2.23%
    10 year return
    4.15%
    Last updated: 2024-04-08
    First Merchants declares $0.34 dividend
    February 7, 2024

    iO Charts is a Seeking Alpha partner

    First Merchants Corporation 2023 Q4 - Results - Earnings Call Presentation
    January 26, 2024

    iO Charts is a Seeking Alpha partner

    DIVIDENDS

    Dividend yield - 5y

    Dividend yield data
    Dividend per share1.36
    Dividend yield4.00%
    Payout frequencyQuarterly
    Maximum yield5.46%
    Average yield3.32%
    Minimum yield2.32%
    Discount to avg yield16.83%
    Upside potential20.24%
    Yield as % of max yield73.14%

    Yield distribution (inverse percentile) - 5y

    Yield distribution data
    Dividend yield4.00%
    Current yield distribution23.73%
    Yield at 100% (Min)2.32%
    Yield at 90%2.54%
    Yield at 80%2.69%
    Yield at 50% (Median)3.01%
    Yield at 20%4.07%
    Yield at 10%4.47%
    Yield at 0% (Max)5.46%

    Dividend per share

    Dividend per share data
    Years of growth9 years
    CCC statusDividend Challenger
    Dividend per share1.36
    Payout frequencyQuarterly
    Ex-div date29 Feb 2024
    EPS (TTM)3.73
    EPS (1y forward)4.33
    EPS growth (5y)14.36%
    EPS growth (5y forward)7.00%

    Dividend growth

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    Dividend growth data
    FRMES&P500
    DGR MR6.25%-16.32%
    DGR TTM6.25%4.05%
    DGR 3 years8.82%5.24%
    DGR 5 years9.79%5.40%
    DGR 10 years22.23%7.07%
    DGR 15 years2.54%6.12%
    Time since last change announced344 days
    EPS growth (5y)14.36%
    EPS growth (5y forward)7.00%

    Payout ratio

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    Payout ratio data
    EPS coverageFCF coverage
    TTM44.28%45.06%
    Average--
    Forward31.41%-
    First Merchants Corporation (FRME) Q4 2023 Earnings Call Transcript
    January 26, 2024

    iO Charts is a Seeking Alpha partner

    First Merchants Non-GAAP EPS of $0.87 in-line, revenue of $156.5M misses by $8.98M
    January 25, 2024

    iO Charts is a Seeking Alpha partner

    VALUATION

    Valuation Ratios

    Valuation Ratios data
    Trailing P/E9.16
    Price to OCF7.57
    Price to FCF9.32
    Price to EBITDA7.09
    EV to EBITDA61.81

    Valuation (Sales/Book Value)

    Valuation (Sales/Book Value) data
    Price to Sales3.37
    Price to Book1.00
    EV to Sales29.33
    First Merchants Bank announces plans to expand in Detroit
    January 23, 2024

    iO Charts is a Seeking Alpha partner

    First Merchants declares $0.34 dividend
    November 13, 2023

    iO Charts is a Seeking Alpha partner

    FINANCIALS

    Per share

    Per share data
    Current share count59.64M
    EPS (TTM)3.73
    FCF per share (TTM)3.67

    Income statement

    Income statement data
    Revenue (TTM)602.92M
    Gross profit (TTM)611.39M
    Operating income (TTM)255.67M
    Net income (TTM)221.62M
    EPS (TTM)3.73
    EPS (1y forward)4.33

    Margins

    Margins data
    Gross margin (TTM)101.40%
    Operating margin (TTM)42.41%
    Profit margin (TTM)36.76%

    Balance Sheet

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    Balance Sheet data
    Cash248.66M
    Net receivables85.07M
    Total current assets4.83B
    Goodwill712.00M
    Intangible assets35.84M
    Property, plant and equipment0.00
    Total assets17.94B
    Accounts payable7.53M
    Short/Current long term debt974.97M
    Total current liabilities14.39B
    Total liabilities15.90B
    Shareholder's equity2.03B
    Net tangible assets1.26B

    Cash flow

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    Cash flow data
    Operating cash flow (TTM)268.05M
    Capital expenditures (TTM)0.00
    Free cash flow (TTM)217.82M
    Dividends paid (TTM)98.14M

    Financial returns

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    Financial returns data
    Return on Equity10.89%
    Return on Assets1.24%
    Return on Invested Capital7.36%
    Cash Return on Invested Capital7.24%
    First Merchants: Both Deposits And Loans Struggle To Grow
    November 4, 2023

    iO Charts is a Seeking Alpha partner

    First Merchants Corporation (FRME) Q3 2023 Earnings Call Transcript
    October 26, 2023

    iO Charts is a Seeking Alpha partner

    STOCK INFORMATION

    Stock chart

    Stock price data
    Open33.65
    Daily high34.22
    Daily low33.65
    Daily Volume125K
    All-time high50.04
    1y analyst estimate49.00
    Beta1.10
    EPS (TTM)3.73
    Dividend per share1.36
    Ex-div date29 Feb 2024
    Next earnings date25 Apr 2024

    Downside potential

    Downside potential data
    FRMES&P500
    Current price drop from All-time high-31.99%-0.85%
    Highest price drop-82.97%-56.47%
    Date of highest drop17 Dec 20099 Mar 2009
    Avg drop from high-23.06%-11.35%
    Avg time to new high26 days13 days
    Max time to new high2158 days1805 days
    First Merchants Corporation 2023 Q3 - Results - Earnings Call Presentation
    October 26, 2023

    iO Charts is a Seeking Alpha partner

    First Merchants GAAP EPS of $0.94 in-line, revenue of $161.22M misses by $5.25M
    October 26, 2023

    iO Charts is a Seeking Alpha partner

    COMPANY DETAILS
    FRME (First Merchants Corporation) company logo
    Marketcap
    2.03B
    Marketcap category
    Mid-cap
    Description
    First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, public finance, and real estate mortgage loans. It also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services. The company operates banking locations in Indiana, Illinois, Ohio, and Michigan counties. It also offers its services through electronic and mobile delivery channels. The company was founded in 1893 and is headquartered in Muncie, Indiana.
    Employees
    2124
    Website
    https://www.firstmerchants.com
    Investor relations
    SEC filings
    FRME SEC filings
    CEO
    Michael Rechin
    Country
    USA
    City
    Muncie
    Stock type
    Common stock
    CCC status
    Dividend Challenger
    Dividend Frequency
    Quarterly
    EVENTS AND PRESENTATIONS
    EventsPresentations
    First Merchants: Robust Results Make The 7.7% Yielding Preferred Shares Attractive
    August 9, 2023

    iO Charts is a Seeking Alpha partner

    First Merchants declares $0.34 dividend
    August 9, 2023

    iO Charts is a Seeking Alpha partner

    UNDERSTAND THE BUSINESS
    COMPANY NEWS
    Seeking AlphaPress releases
    First Merchants Corporation (FRME) Q2 2023 Earnings Call Transcript
    July 25, 2023
    First Merchants Corporation 2023 Q2 - Results - Earnings Call Presentation
    July 25, 2023
    First Merchants Non-GAAP EPS of $1.02 in-line, revenue of $164.15M misses by $8.81M
    July 25, 2023
    First Merchants Corporation: A Stable Bank In An Unstable Market
    May 14, 2023
    First Merchants raises dividend by 6% to $0.34
    May 10, 2023
    First Merchants Corporation (FRME) Q1 2023 Earnings Call Transcript
    April 25, 2023
    First Merchants Corporation 2023 Q1 - Results - Earnings Call Presentation
    April 25, 2023
    First Merchants Non-GAAP EPS of $1.07, revenue of $169.11M
    April 25, 2023
    First Merchants declares $0.32 dividend
    February 8, 2023
    First Merchants Corporation: Margin Expansion, Last Year's Acquisition To Boost Earnings
    February 3, 2023
    iO Charts is a Seeking Alpha partnerNext page
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