First Merchants Corporation (NASDAQ:FRME) will begin trading ex-dividend on December 3, 2020. The quarterly dividend payment of $ 0.26 per share is scheduled to be paid on December 18, 2020. The dividend yield based on the latest trading day closing price was 3.09 percent. Shareholders who purchased FRME shares prior to the ex-dividend date are eligible for the cash dividend payment.
Dividends History
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First Merchants Corporation recently reported third quarter financial results on October 28, 2020, before market open, the Muncie based company announced income for the third quarter of $ 0.67 per share, from the revenue of $ 119.08 million. The quarterly earnings lowered 23.86 percent while revenues grew 7.23 percent compared with the same quarter last year.
Wall street analysts are predicting, FRME to report 3Q20 income of $ 0.62 per share from revenue of $ 122.17 million. The bottom line results beat street analysts by $ 0.05 or 8.06 percent, at the same time, top line results fell short of analysts by $ 3.09 million or 2.53 percent.
Stock Performance
Shares of First Merchants Corporation traded up $ 0.31 or 0.93 percent on Tuesday, reaching $ 33.63 with volume of 156.20 thousand shares. First Merchants Corporation has traded high as $ 34.45 and has cracked $ 33.30 on the downward trend
According to the previous trading day, closing price of $ 33.63, representing a 57.32 % increase from the 52 week low of $ 21.18 and a 21.56 % decrease over the 52 week high of $ 42.48.
The company has a market capital of $ 1.82 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.
