11,382 Shares in First Merchants Corporation (FRME) Purchased by Citadel Advisors LLC

Citadel Advisors LLC purchased a new position in First Merchants Corporation (NASDAQ:FRME) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,382 shares of the bank’s stock, valued at approximately $457,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in First Merchants Corporation by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 785,329 shares of the bank’s stock worth $31,523,000 after purchasing an additional 24,000 shares during the period. Parametric Portfolio Associates LLC raised its holdings in First Merchants Corporation by 48.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 74,075 shares of the bank’s stock worth $2,973,000 after purchasing an additional 24,133 shares during the period. Advisor Group Inc. raised its holdings in First Merchants Corporation by 8.3% in the 2nd quarter. Advisor Group Inc. now owns 2,981 shares of the bank’s stock worth $120,000 after purchasing an additional 228 shares during the period. Nordea Investment Management AB raised its holdings in First Merchants Corporation by 3.4% in the 2nd quarter. Nordea Investment Management AB now owns 264,772 shares of the bank’s stock worth $10,628,000 after purchasing an additional 8,623 shares during the period. Finally, Suntrust Banks Inc. raised its holdings in First Merchants Corporation by 1.6% in the 2nd quarter. Suntrust Banks Inc. now owns 6,610 shares of the bank’s stock worth $265,000 after purchasing an additional 101 shares during the period. 67.76% of the stock is owned by institutional investors.

Shares of First Merchants Corporation (NASDAQ:FRME) opened at 43.80 on Tuesday. First Merchants Corporation has a 1-year low of $25.84 and a 1-year high of $44.36. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 20.00 and a beta of 0.94. The firm’s 50-day moving average price is $40.36 and its 200 day moving average price is $40.18.

First Merchants Corporation (NASDAQ:FRME) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. First Merchants Corporation had a net margin of 27.04% and a return on equity of 9.63%. The firm had revenue of $81.53 million during the quarter, compared to the consensus estimate of $78.75 million. Equities research analysts expect that First Merchants Corporation will post $2.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.64%. First Merchants Corporation’s payout ratio is 32.88%.

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised First Merchants Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of First Merchants Corporation in a report on Thursday, August 3rd. Finally, BidaskClub cut First Merchants Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $44.33.

In other news, insider Mark K. Hardwick sold 1,851 shares of First Merchants Corporation stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $39.69, for a total transaction of $73,466.19. Following the completion of the sale, the insider now directly owns 75,120 shares in the company, valued at approximately $2,981,512.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have bought 66 shares of company stock valued at $2,644. Insiders own 1.41% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “11,382 Shares in First Merchants Corporation (FRME) Purchased by Citadel Advisors LLC” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in First Merchants Corporation by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 785,329 shares of the bank’s stock worth $31,523,000 after purchasing an additional 24,000 shares during the period. Parametric Portfolio Associates LLC raised its holdings in First Merchants Corporation by 48.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 74,075 shares of the bank’s stock worth $2,973,000 after purchasing an additional 24,133 shares during the period. Advisor Group Inc. raised its holdings in First Merchants Corporation by 8.3% in the 2nd quarter. Advisor Group Inc. now owns 2,981 shares of the bank’s stock worth $120,000 after purchasing an additional 228 shares during the period. Nordea Investment Management AB raised its holdings in First Merchants Corporation by 3.4% in the 2nd quarter. Nordea Investment Management AB now owns 264,772 shares of the bank’s stock worth $10,628,000 after purchasing an additional 8,623 shares during the period. Finally, Suntrust Banks Inc. raised its holdings in First Merchants Corporation by 1.6% in the 2nd quarter. Suntrust Banks Inc. now owns 6,610 shares of the bank’s stock worth $265,000 after purchasing an additional 101 shares during the period. 67.76% of the stock is owned by institutional investors.

Shares of First Merchants Corporation (NASDAQ:FRME) opened at 43.80 on Tuesday. First Merchants Corporation has a 1-year low of $25.84 and a 1-year high of $44.36. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 20.00 and a beta of 0.94. The firm’s 50-day moving average price is $40.36 and its 200 day moving average price is $40.18.

First Merchants Corporation (NASDAQ:FRME) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. First Merchants Corporation had a net margin of 27.04% and a return on equity of 9.63%. The firm had revenue of $81.53 million during the quarter, compared to the consensus estimate of $78.75 million. Equities research analysts expect that First Merchants Corporation will post $2.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.64%. First Merchants Corporation’s payout ratio is 32.88%.

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised First Merchants Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of First Merchants Corporation in a report on Thursday, August 3rd. Finally, BidaskClub cut First Merchants Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $44.33.

In other news, insider Mark K. Hardwick sold 1,851 shares of First Merchants Corporation stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $39.69, for a total transaction of $73,466.19. Following the completion of the sale, the insider now directly owns 75,120 shares in the company, valued at approximately $2,981,512.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have bought 66 shares of company stock valued at $2,644. Insiders own 1.41% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “11,382 Shares in First Merchants Corporation (FRME) Purchased by Citadel Advisors LLC” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/10/11382-shares-in-first-merchants-corporation-frme-purchased-by-citadel-advisors-llc.html.

First Merchants Corporation 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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