First Merchants Corporation (NASDAQ:FRME) will begin trading ex-dividend on September 3, 2020. The quarterly dividend payment of $ 0.26 per share is scheduled to be paid on September 18, 2020. The dividend yield based on the latest trading day closing price was 3.98 %. To secure the dividend payout, investors must buy the stock prior to the ex-dividend date..
Dividends History
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First Merchants Corporation recently reported second quarter financial results on July 23, 2020, before market open, the Muncie based company revealed income for the second quarter of $ 0.62 per share, from the revenue of $ 119.50 million. The quarterly earnings down 25.30 percent compared with the same quarter last year. Wall street analysts are predicting, FRME to report 2Q20 income of $ 0.47 per share from revenue of $ 120.28 million. The bottom line results beat street analysts by $ 0.15 or 31.91 percent, at the same time, top line results fell short of analysts by $ 0.78 million or 0.65 percent.
Stock Performance
Shares of First Merchants Corporation traded up $ 0.01 or 0.04 percent on Friday, reaching $ 26.11 with volume of 240.60 thousand shares. First Merchants Corporation has traded high as $ 26.38 and has cracked $ 25.78 on the downward trend
According to the previous trading day, closing price of $ 26.11, representing a 23.23 % increase from the 52 week low of $ 21.18 and a 38.56 % decrease over the 52 week high of $ 42.48.
The company has a market capital of $ 1.41 billion and is part of the Financial Services sector and Banks – Regional – US industry.
First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as rents safe deposit facilities. The company also provides personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services, as well as electronic and mobile delivery channels.