First Merchants (FRME)

• Market cap: $2.13B
• 1 day: -0.75%
• 5 days: 1.80%
• 1 month: -11.87%
• 3 months: -16.55%
• 6 months: -5.54%
• Year to date: -8.83%
• 1 year: 6.64%
• 5 years: 25.89%
• 10 years: 57.91%
• Sector: Financials
• Industry: Banks - Regional

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: 2,120

Fund manager confidence

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

54% more first-time investments, than exits

New positions opened: 40 | Existing positions closed: 26

13% more repeat investments, than reductions

Existing positions increased: 87 | Existing positions reduced: 77

9% more capital invested

Capital invested by funds: $1.59B [Q3] → $1.73B (+$148M) [Q4]

4% more funds holding

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

1.02% more ownership

Funds ownership: 73.08% [Q3] → 74.1% (+1.02%) [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: $46 29% upside
• Avg. target: $48 35% upside
• High target: $49 37% upside

3 analyst ratings

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

Piper Sandler Nathan Race 41% 1-year accuracy 12 / 29 met price target	37% upside $49	Overweight Maintained	28 Apr 2025
Keefe, Bruyette & Woods Damon Delmonte 23% 1-year accuracy 7 / 31 met price target	37% upside $49	Outperform Maintained	25 Apr 2025
Raymond James Daniel Tamayo 18% 1-year accuracy 4 / 22 met price target	29% upside $46	Outperform Maintained	2 Apr 2025