Alliancebernstein L.P. Raises Position in First Merchants Corporation (FRME)

Alliancebernstein L.P. increased its holdings in First Merchants Corporation (NASDAQ:FRME) by 10.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,300 shares of the bank’s stock after buying an additional 5,000 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of First Merchants Corporation worth $2,099,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. increased its holdings in First Merchants Corporation by 17,626.9% in the 1st quarter. BlackRock Inc. now owns 3,402,680 shares of the bank’s stock worth $133,795,000 after buying an additional 3,383,485 shares during the period. Dimensional Fund Advisors LP increased its holdings in First Merchants Corporation by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,082,813 shares of the bank’s stock worth $121,217,000 after buying an additional 28,326 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in First Merchants Corporation by 1.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,301,325 shares of the bank’s stock worth $92,375,000 after buying an additional 23,350 shares during the period. Vanguard Group Inc. increased its holdings in First Merchants Corporation by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 1,787,054 shares of the bank’s stock worth $70,268,000 after buying an additional 91,051 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in First Merchants Corporation by 0.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,697,507 shares of the bank’s stock worth $66,746,000 after buying an additional 4,432 shares during the period. Institutional investors own 67.35% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Alliancebernstein L.P. Raises Position in First Merchants Corporation (FRME)” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/17/alliancebernstein-l-p-raises-position-in-first-merchants-corporation-frme.html.

In other news, insider Mark K. Hardwick sold 1,851 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $39.69, for a total value of $73,466.19. Following the transaction, the insider now owns 75,120 shares of the company’s stock, valued at $2,981,512.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 66 shares of company stock worth $2,644. Corporate insiders own 1.41% of the company’s stock.

Shares of First Merchants Corporation (FRME) opened at 43.29 on Tuesday. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 19.77 and a beta of 0.94. First Merchants Corporation has a 52-week low of $25.84 and a 52-week high of $44.36. The firm has a 50-day moving average price of $40.94 and a 200 day moving average price of $40.34.

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

FRME has been the topic of several research reports. Zacks Investment Research upgraded shares of First Merchants Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, August 23rd. BidaskClub upgraded First Merchants Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Piper Jaffray Companies restated a “hold” rating on shares of First Merchants Corporation in a research report on Thursday, August 3rd. One investment analyst has rated the stoc

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. increased its holdings in First Merchants Corporation by 17,626.9% in the 1st quarter. BlackRock Inc. now owns 3,402,680 shares of the bank’s stock worth $133,795,000 after buying an additional 3,383,485 shares during the period. Dimensional Fund Advisors LP increased its holdings in First Merchants Corporation by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,082,813 shares of the bank’s stock worth $121,217,000 after buying an additional 28,326 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in First Merchants Corporation by 1.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,301,325 shares of the bank’s stock worth $92,375,000 after buying an additional 23,350 shares during the period. Vanguard Group Inc. increased its holdings in First Merchants Corporation by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 1,787,054 shares of the bank’s stock worth $70,268,000 after buying an additional 91,051 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in First Merchants Corporation by 0.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,697,507 shares of the bank’s stock worth $66,746,000 after buying an additional 4,432 shares during the period. Institutional investors own 67.35% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Alliancebernstein L.P. Raises Position in First Merchants Corporation (FRME)” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/17/alliancebernstein-l-p-raises-position-in-first-merchants-corporation-frme.html.

In other news, insider Mark K. Hardwick sold 1,851 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $39.69, for a total value of $73,466.19. Following the transaction, the insider now owns 75,120 shares of the company’s stock, valued at $2,981,512.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 66 shares of company stock worth $2,644. Corporate insiders own 1.41% of the company’s stock.

Shares of First Merchants Corporation (FRME) opened at 43.29 on Tuesday. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 19.77 and a beta of 0.94. First Merchants Corporation has a 52-week low of $25.84 and a 52-week high of $44.36. The firm has a 50-day moving average price of $40.94 and a 200 day moving average price of $40.34.

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

FRME has been the topic of several research reports. Zacks Investment Research upgraded shares of First Merchants Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, August 23rd. BidaskClub upgraded First Merchants Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Piper Jaffray Companies restated a “hold” rating on shares of First Merchants Corporation in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. First Merchants Corporation currently has an average rating of “Hold” and a consensus target price of $44.33.

About First Merchants Corporation

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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