Short Interest in First Merchants Co. (NASDAQ:FRMEP) Rises By 29,069.6%

First Merchants Co. (NASDAQ:FRMEP) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 6,709 shares, a growth of 29,069.6% from the June 15th total of 23 shares. Based on an average trading volume of 1,971 shares, the short-interest ratio is presently 3.4 days.

First Merchants Price Performance

Shares of First Merchants stock traded down $0.29 during trading on Friday, hitting $25.51. The stock had a trading volume of 199 shares, compared to its average volume of 1,493. First Merchants has a 12 month low of $24.73 and a 12 month high of $27.09. The firm’s fifty day simple moving average is $25.40 and its 200-day simple moving average is $25.64.

First Merchants Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were given a $0.4688 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was Thursday, April 30th.

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.