First Merchants Co. (NASDAQ:FRMEP) Short Interest Update

First Merchants Co. (NASDAQ:FRMEP) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 644 shares, a decline of 48.5% from the December 15th total of 1,251 shares. Based on an average trading volume of 1,929 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 1,929 shares, the short-interest ratio is currently 0.3 days.

First Merchants Stock Down 0.6%

NASDAQ:FRMEP traded down $0.15 during trading hours on Thursday, hitting $26.10. The stock had a trading volume of 839 shares, compared to its average volume of 1,444. The business has a 50 day simple moving average of $25.74 and a two-hundred day simple moving average of $25.63. First Merchants has a 1-year low of $24.15 and a 1-year high of $26.35.

First Merchants Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 16th. Shareholders of record on Friday, January 30th will be paid a dividend of $0.4688 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is 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.