First Merchants Co. (NASDAQ:FRMEP) Sees Significant Drop in Short Interest

First Merchants Co. (NASDAQ:FRMEP) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 644 shares, a decline of 48.5% from the December 15th total of 1,251 shares. Based on an average trading volume of 1,929 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 1,929 shares, the short-interest ratio is currently 0.3 days.

First Merchants Stock Performance

FRMEP stock traded down $0.39 during mid-day trading on Friday, hitting $25.86. The stock had a trading volume of 121 shares, compared to its average volume of 1,336. First Merchants has a 1-year low of $24.15 and a 1-year high of $26.41. The company has a fifty day moving average of $25.72 and a 200 day moving average of $25.63.

First Merchants Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 16th. Shareholders of record on Friday, January 30th will be paid a $0.4688 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.88 dividend on an annualized basis and a yield of 7.3%.

First Merchants Company Profile

First Merchants Corporation (NASDAQ: FRMEP) is a bank holding company headquartered in Muncie, Indiana, offering a full suite of financial services through its subsidiary, First Merchants Bank. The company provides consumer and commercial banking products, including checking and savings accounts, business and real estate loans, treasury management, and digital banking solutions. First Merchants also offers mortgage origination, wealth management, trust services, and insurance brokerage through dedicated teams.

Incorporated in 1983, First Merchants traces its roots to Merchant’s National Bank of Muncie, which was founded in 1893.