Fintel reports that on April 6, 2023, Raymond James maintained coverage of First Merchants (NASDAQ:FRME) with a Outperform recommendation.
Analyst Price Forecast Suggests 47.38% Upside
As of April 6, 2023, the average one-year price target for First Merchants is $46.75. The forecasts range from a low of $40.40 to a high of $52.50. The average price target represents an increase of 47.38% from its latest reported closing price of $31.72.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for First Merchants is $746MM, an increase of 22.06%. The projected annual non-GAAP EPS is $4.81.
First Merchants Declares $0.32 Dividend
On February 8, 2023 the company declared a regular quarterly dividend of $0.32 per share ($1.28 annualized). Shareholders of record as of March 3, 2023 received the payment on March 17, 2023. Previously, the company paid $0.32 per share.
At the current share price of $31.72 / share, the stock's dividend yield is 4.04%. Looking back five years and taking a sample every week, the average dividend yield has been 2.82%, the lowest has been 1.64%, and the highest has been 4.55%. The standard deviation of yields is 0.64 (n=236).
The current dividend yield is 1.90 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.23%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
U.S. Capital Wealth Advisors holds 0K shares representing 0.00% ownership of the company.
LINCOLN VARIABLE INSURANCE PRODUCTS TRUST - LVIP Dimensional U.S. Core Equity 1 Fund Standard Class holds 6K shares representing 0.01% ownership of the company. No change in the last quarter.
TIAA SEPARATE ACCOUNT VA 1 - Stock Index Account Teachers Personal Annuity Individual Deferred Variable Annuity holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.
DFQTX - U.s. Core Equity 2 Portfolio - Institutional Class holds 170K shares representing 0.28% ownership of the company. No change in the last quarter.
Nomura Asset Management holds 0K shares representing 0.00% ownership of the company. No change in the last quarter.
What is the Fund Sentiment?
There are 497 funds or institutions reporting positions in First Merchants.
This is an increase
of
17
owner(s) or 3.54% in the last quarter.
Average portfolio weight of all funds dedicated to FRME is 0.22%,
a decrease
of 2.42%.
Total shares owned by institutions decreased
in the last three months by 0.03% to 51,879K shares.
The put/call ratio of FRME is 0.26, indicating a
bullish
outlook.
First Merchants Background Information
(This description is provided by the company.)
First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank). FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
