First Merchants (NASDAQ:FRMEP) Trading Up 1.3% – Should You Buy?

First Merchants Co. (NASDAQ:FRMEP) rose 1.3% on Monday . The company traded as high as $25.66 and last traded at $25.7910. Approximately 1,200 shares changed hands during mid-day trading, an increase of 33% from the average daily volume of 902 shares. The stock had previously closed at $25.46.

First Merchants Stock Performance

The company has a 50-day moving average of $25.76 and a 200-day moving average of $25.75.

First Merchants Announces Dividend

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

About First Merchants

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.