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

First Merchants Co. (NASDAQ:FRMEP) was the recipient of 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 trading volume of 239 shares, the days-to-cover ratio is presently 5.3 days. Based on an average trading volume of 239 shares, the days-to-cover ratio is presently 5.3 days.

First Merchants Price Performance

Shares of FRMEP traded down $0.01 during midday trading on Monday, hitting $25.84. The company had a trading volume of 450 shares, compared to its average volume of 927. The company’s 50 day moving average price is $25.71 and its 200 day moving average price is $25.73. First Merchants has a 52 week low of $25.00 and a 52 week high of $27.09.

First Merchants Dividend Announcement

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

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.