First Merchants (NASDAQ:FRMEP) Trading Up 1.2% – Still a Buy?

First Merchants Co. (NASDAQ:FRMEP)’s share price shot up 1.2% during trading on Wednesday . The company traded as high as $25.24 and last traded at $25.36. 2,550 shares were traded during trading, an increase of 45% from the average session volume of 1,763 shares. The stock had previously closed at $25.05.

First Merchants Price Performance

The business has a 50 day simple moving average of $25.46 and a 200-day simple moving average of $25.63.

First Merchants Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 30th will be given a dividend of $0.4688 per share. The ex-dividend date is Thursday, July 30th. This represents a $1.88 annualized dividend and a yield of 7.4%.

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.