First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services. The company offers a range of financial services, including checking, savings, and deposit products; debit and credit cards; mortgages, home equity lending, vehicle loans, and personal loans; and local commercial lending, asset-based lending solutions, agricultural lending, commercial real estate solutions, debt capital markets, practice finance, public finance, small business administration lending, and sponsor finance services. It also provides personal and commercial wealth management services, trust services, retirement planning, brokerage, investment management, private banking, fiduciary estate, and financial planning services. The company operates banking locations in Indiana, Ohio, and Michigan counties. It offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.
Strategic Divestiture | First Merchants Corporation's sale of Illinois branches to Old Second Bancorp reshapes market presence, generating a $23 million deposit premium and enhancing operational focus |
Financial Health | Explore FRME's robust financial performance, with a 41.54% price return over six months and strong pre-provision net revenue, despite a slight credit quality decline |
Market Positioning | Delve into FRME's strategic concentration on core markets, potentially leading to deeper customer relationships and improved operational efficiency |
Future Prospects | Analysts project a bullish outlook with price targets around $45, citing positive momentum and increased balance sheet flexibility from the recent branch sale |
Metrics to compare | FRME | Sector Sector - Average of metrics from a broad group of related Financial sector companies | Relationship RelationshipFRMEPeersSector | |
---|---|---|---|---|
P/E Ratio | 10.2x | 12.5x | 9.6x | |
PEG Ratio | 0.44 | 1.27 | 0.03 | |
Price/Book | 1.0x | 0.7x | 1.0x | |
Price / LTM Sales | 3.6x | 3.3x | 2.9x | |
Upside (Analyst Target) | 13.6% | 15.6% | 10.6% | |
Fair Value Upside | Unlock | 1.1% | 1.9% | Unlock |