First Merchants Co. (NASDAQ:FRMEP – Get Free Report) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,400 shares, a growth of 133.3% from the September 30th total of 600 shares. Based on an average daily volume of 900 shares, the short-interest ratio is presently 1.6 days.
First Merchants Price Performance
FRMEP opened at $25.75 on Friday. The stock’s 50 day moving average price is $25.39 and its 200-day moving average price is $25.30. First Merchants has a one year low of $23.00 and a one year high of $26.43.
First Merchants Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.4688 dividend. This represents a $1.88 annualized dividend and a yield of 7.28%. The ex-dividend date is Thursday, October 31st.
About First Merchants
First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans.
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