First Merchants Co. (NASDAQ:FRMEP) Short Interest Down 98.9% in June

First Merchants Co. (NASDAQ:FRMEP) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 23 shares, a drop of 98.9% from the May 31st total of 2,016 shares. Based on an average trading volume of 1,134 shares, the days-to-cover ratio is presently 0.0 days.

First Merchants Stock Down 0.4%

FRMEP traded down $0.11 during trading on Friday, hitting $25.60. 1,399 shares of the stock traded hands, compared to its average volume of 1,533. First Merchants has a twelve month low of $24.73 and a twelve month high of $27.09. The business has a 50 day moving average price of $25.46 and a 200 day moving average price of $25.64.

First Merchants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a $0.4688 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.88 annualized dividend and a yield of 7.3%.

About First Merchants

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.