Vaughan Nelson Investment Management L.P. raised its stake in shares of First Merchants Corporation (NASDAQ:FRME) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,301,325 shares of the bank’s stock after buying an additional 23,350 shares during the period. First Merchants Corporation comprises about 1.1% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 11th largest position. Vaughan Nelson Investment Management L.P. owned approximately 0.06% of First Merchants Corporation worth $92,375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FRME. Teachers Advisors LLC raised its position in First Merchants Corporation by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 91,705 shares of the bank’s stock valued at $3,453,000 after buying an additional 8,514 shares during the last quarter. Diversified Portfolios Inc. raised its position in First Merchants Corporation by 23.4% in the first quarter. Diversified Portfolios Inc. now owns 22,951 shares of the bank’s stock valued at $902,000 after buying an additional 4,347 shares during the last quarter. Goldman Sachs Group Inc. raised its position in First Merchants Corporation by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,697,507 shares of the bank’s stock valued at $66,746,000 after buying an additional 4,432 shares during the last quarter. Rothschild Asset Management Inc. raised its position in First Merchants Corporation by 3.3% in the first quarter. Rothschild Asset Management Inc. now owns 336,951 shares of the bank’s stock valued at $13,249,000 after buying an additional 10,768 shares during the last quarter. Finally, Invictus RG acquired a new position in First Merchants Corporation during the first quarter valued at $196,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

First Merchants Corporation (FRME) opened at 40.05 on Monday. First Merchants Corporation has a 52 week low of $25.00 and a 52 week high of $43.48. The stock has a market cap of $1.64 billion, a P/E ratio of 18.98 and a beta of 0.93. The firm has a 50-day moving average price of $40.51 and a 200-day moving average price of $39.39.

First Merchants Corporation (NASDAQ:FRME) last released its quarterly earnings results on Thursday, April 27th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.04. First Merchants Corporation had a return on equity of 9.57% and a net margin of 26.67%. The firm had revenue of $75.85 million for the quarter, compared to the consensus estimate of $76.65 million. On average, equities research analysts predict that First Merchants Corporation will post $2.27 EPS for the current year.

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Several research analysts recently weighed in on FRME shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $44.00 price target on shares of First Merchants Corporation in a research report on Wednesday, April 5th. Zacks Investment Research lowered First Merchants Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. ValuEngine raised First Merchants Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded First Merchants Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $39.67.

In other First Merchants Corporation news, Director Terry L. Walker sold 1,221 shares of First Merchants Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $42.30, for a total value of $51,648.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 93 shares of company stock worth $3,810 in the last three months. Company insiders own 1.41% of the company’s stock.

First Merchants Corporation Company Profile

First Merchants Corporation is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. It operates through community banking business segment. The Bank also operates Lafayette Bank and Trust, and First Merchants Private Wealth Advisors (each as a division of First Merchants Bank).

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Institutional Ownership by Quarter for First Merchants Corporation (NASDAQ:FRME)

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