First Merchants (FRME)

• Market cap: $2.29B
• 1 day: -1.14%
• 5 days: -6.40%
• 1 month: -12.69%
• 3 months: -9.50%
• 6 months: 6.37%
• Year to date: -0.05%
• 1 year: 16.11%
• 5 years: 34.96%
• 10 years: 65.83%
• Sector: Financials
• Industry: National Commercial Banks

About: First Merchants Corp, through its subsidiaries, provides its customers with financial services delivered locally by bankers. It offers personal banking, business banking, real estate mortgage lending, cash management services, brokerage, wealth management, and insurance. The company reports in only one segment which is community banking.

Employees: 2,124

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

54% more first-time investments, than exits

New positions opened: 40 | Existing positions closed: 26

10% more repeat investments, than reductions

Existing positions increased: 86 | Existing positions reduced: 78

8% more capital invested

Capital invested by funds: $1.61B [Q3] → $1.73B (+$122M) [Q4]

4% more funds holding

Funds holding: 240 [Q3] → 249 (+9) [Q4]

0.17% less ownership

Funds ownership: 74.27% [Q3] → 74.1% (-0.17%) [Q4]

33% less funds holding in top 10

Funds holding in top 10: 3 [Q3] → 2 (-1) [Q4]

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $50 28% upside
• Avg. target: $52 34% upside
• High target: $55 41% upside

3 analyst ratings

• positive: 3 100%
• neutral: 0 0%
• negative: 0 0%

Keefe, Bruyette & Woods Damon Delmonte 19% 1-year accuracy 5 / 27 met price target	33% upside $52	Outperform Maintained	31 Jan 2025
Raymond James Daniel Tamayo 17% 1-year accuracy 2 / 12 met price target	28% upside $50	Outperform Reiterated	31 Jan 2025
Piper Sandler Nathan Race 42% 1-year accuracy 11 / 26 met price target	41% upside $55	Overweight Reiterated	31 Jan 2025