First Merchants Co. (NASDAQ:FRMEP) Short Interest Update

First Merchants Co. (NASDAQ:FRMEP) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 3,907 shares, a growth of 506.7% from the December 31st total of 644 shares. Based on an average daily volume of 1,225 shares, the days-to-cover ratio is presently 3.2 days. Based on an average daily volume of 1,225 shares, the days-to-cover ratio is presently 3.2 days.

First Merchants Trading Down 0.5%

First Merchants stock opened at $25.73 on Friday. First Merchants has a 52 week low of $24.15 and a 52 week high of $27.09. The stock has a 50 day moving average of $25.71 and a 200-day moving average of $25.66.

First Merchants Announces Dividend

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