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FRME

NEUTRAL
$41.47 Live
First Merchants Corporation · NASDAQ
Target $46.2 (+11.4%)
$33.43 52W Range $43.22
Overview AI Snowflake Price Valuation Profitability Growth Health Statements Peers Insiders

At a glance

Key valuation, profitability, growth, and risk metrics.

Updated Apr 10, 2026
Market cap
$2.63B
P/E
10.53
ROE
9.5%
Profit margin
35.2%
Debt/Equity
N/A
Dividend yield
3.53%

AI Analysis

AI-powered fundamental assessment

Confidence
85%
FRME presents as a classic value play with a stable Piotroski F-Score of 4/9, trading at a discount to its Graham Number ($61.18) and slightly below book value (P/B 0.97). While the company maintains a strong track record of earnings beats and a sustainable dividend, it is currently hampered by negative year-over-year revenue (-4.60%) and earnings growth (-10.90%). The valuation attractiveness is offset by bearish insider sentiment and a very weak technical trend, suggesting a period of stagnation or a potential value trap if growth does not pivot.

Key Strengths

Trading below book value (P/B 0.97)
Low P/E ratio (10.53) relative to sector averages
Strong historical earnings track record with consistent beats
Sustainable dividend payout ratio (36.86%)
Positive analyst consensus with a target price of $46.20

Key Risks

Negative YoY revenue and earnings growth
Bearish insider activity with multiple sales and zero buys
Very weak technical trend (10/100)
Mediocre Piotroski F-Score (4/9) indicating only stable health
Exposure to regional banking sector volatility
AI Fair Value Estimate
Based on comprehensive analysis
$43.5
+4.9% above current price

Performance Snowflake

Multi-dimensional analysis across 5 key categories

Overall
64
Strong
Value
82
Future
35
Past
75
Health
50
Dividend
78
AI Verdict
Stable Value with Growth Headwinds
Key drivers: Attractive P/B and P/E ratios, Negative YoY growth metrics, Bearish insider and technical signals
Confidence
90%
Value
82/100

Ref P/E 10.53, P/B 0.97, Graham Number $61.18

Positives
  • Price is well below Graham Number ($61.18)
  • P/B ratio under 1.0
Watchpoints
  • Intrinsic value based on growth is significantly lower ($27.16)
Future
35/100

Ref Growth rates

Positives
  • Positive Q/Q revenue growth (9.57%)
Watchpoints
  • Negative YoY Revenue (-4.60%)
  • Negative YoY Earnings (-10.90%)
Past
75/100

Ref Historical trends

Positives
  • Consistent earnings beats over 25 quarters
  • Strong 3-year price appreciation (+48%)
Watchpoints
  • Recent deceleration in earnings growth
Health
50/100

Ref Piotroski F-Score 4/9

Positives
  • Piotroski score in the 'Stable' range
Watchpoints
  • F-Score of 4/9 is not indicative of strong financial momentum
Dividend
78/100

Ref Yield, Payout

Positives
  • Healthy 3.53% yield
  • Conservative payout ratio (36.86%)
Watchpoints
  • Dividend growth not explicitly provided

Stock Price & Analyst Targets

Real-time price movements and analyst price targets

Current Price
$41.47
Analyst Target
$46.2
Upside/Downside
+11.4%

Multi-Horizon Performance vs Peers

Price momentum across 5Y → 1W horizons for FRME and closest competitors.

Updated 2026-04-09
FRM
First Merchants Corporation
Primary
5Y
+5.0%
3Y
+48.0%
1Y
+16.6%
6M
+13.3%
1M
+10.9%
1W
+5.2%
ETO
eToro Group Ltd.
Peer
5Y
-40.3%
3Y
-40.3%
1Y
-40.3%
6M
-24.2%
1M
-1.7%
1W
+3.4%
CVB
CVB Financial Corp.
Peer
5Y
+10.9%
3Y
+40.7%
1Y
+23.9%
6M
+7.4%
1M
+4.5%
1W
+3.6%
BHF
Brighthouse Financial, Inc.
Peer
5Y
-13.9%
3Y
-16.8%
1Y
-18.5%
6M
+8.0%
1M
+10.1%
1W
+2.6%
BBU
Brookfield Business Corporation
Peer
5Y
+0.1%
3Y
+62.8%
1Y
+52.8%
6M
+10.6%
1M
-3.1%
1W
-2.6%

Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.

Historical Performance Trends

Long-term financial metrics and growth patterns

Revenue & Net Income

Profit & Operating Margins

Return on Equity (ROE)

Quarterly Revenue Growth

Historical data shows last 12 quarters (3 years)

Valuation Metrics

Key valuation ratios and pricing indicators

P/E Ratio
10.53
Forward P/E
9.14
PEG Ratio
N/A
P/B Ratio
0.97
P/S Ratio
4.1
EV/Revenue
5.29
EV/EBITDA
N/A
Market Cap
$2.63B

Profitability

Profit margins and return metrics

Profit Margin 35.22%
Operating Margin 42.7%
Gross Margin N/A
ROE 9.47%
ROA 1.21%

Growth

Revenue and earnings growth rates

Revenue Growth -4.6%
Earnings Growth -10.9%
Q/Q Revenue Growth +9.57%
Q/Q Earnings Growth -11.3%

Financial Health

Balance sheet strength and liquidity metrics

Debt/Equity
N/A
Current Ratio
N/A
Quick Ratio
N/A
Cash/Share
$5.19

Financial Statement Flow

Interactive flow visualization showing how money moves through the company Q4 2025

Revenue
$0.2B
Net Margin
33.1%
Total Assets
$19.0B
Liabilities
$16.6B
Equity
$2.5B
Debt/Equity
6.71x
Operating CF
$0.1B
Free Cash Flow
$0.1B
FCF Yield
100%

Quarterly Earnings History

EPS performance vs analyst estimates

2026-04-22
$N/A
2026-01-26
$0.98
+3.0% surprise
2025-10-22
$0.99
+3.0% surprise
2025-07-23
$0.98
+3.7% surprise

Financial Services Sector Comparison

Comparing FRME against 306 companies in the Financial Services sector (53 bullish, 132 neutral, 121 bearish)
P/E Ratio
10.53
This Stock
vs
55.13
Sector Avg
-80.9% (Discount)
Return on Equity (ROE)
9.47%
This Stock
vs
-0.93%
Sector Avg
-1121.1% (Below Avg)
Profit Margin
35.22%
This Stock
vs
69.73%
Sector Avg
-49.5% (Weaker)
Revenue Growth
-4.6%
This Stock
vs
32.66%
Sector Avg
-114.1% (Slower)

Similar Companies

Peer comparison within the same industry

FRME First Merchants...
NEUTRAL
Mkt Cap
$2.6B
P/E
10.5
ROE
9.5%
Price
$41.47
ETOR eToro Group Ltd.
NEUTRAL
Mkt Cap
$2.6B
P/E
13.0
ROE
19.4%
Price
$31.04
 Compare with FRME
CVBF CVB Financial Corp.
BULLISH
Mkt Cap
$2.7B
P/E
13.1
ROE
9.3%
Price
$19.89
 Compare with FRME
BHFAP Brighthouse...
BEARISH
Mkt Cap
$2.8B
P/E
1.3
ROE
16.2%
Price
$16.62
 Compare with FRME
BBUC Brookfield...
BEARISH
Mkt Cap
$2.5B
P/E
-
ROE
-63.5%
Price
$35.42
 Compare with FRME

Recent Insider Trading

Insider buy and sell transactions from the last 6 months

WOJTOWICZ JEAN L
Director
Stock Award
2026-03-31
806 shares · $31,216
KELLOGG CLARK C JR
Director
Stock Award
2026-03-31
584 shares · $22,618
BROOKS SUSAN W.
Director
Stock Award
2026-03-31
584 shares · $22,618
SONDHI JASON R.
Director
Stock Award
2026-03-31
605 shares · $23,432
JOHNSON KEVIN D.
Director
Stock Award
2026-03-31
564 shares · $21,844
CHIANG MUNG
Director
Stock Award
2026-03-31
584 shares · $22,618
RECHIN MICHAEL C
Director
Stock Award
2026-03-31
625 shares · $24,206
LEHMAN GARY J
Director
Stock Award
2026-03-31
564 shares · $21,844
BECHER MICHAEL R
Director
Stock Award
2026-03-31
625 shares · $24,206
HALDERMAN HOWARD
Director
Stock Award
2026-03-31
605 shares · $23,432
FISHER MICHAEL J
Director
Stock Award
2026-03-31
564 shares · $21,844
MYERS LARRY W
Officer and Director
Sell
2026-02-26
5,000 shares · $207,500
SCURLOCK EVA A
Officer
Option Exercise
2026-02-12
11,429 shares · $269,276
FLUHLER STEPHAN H
Chief Technology Officer
Sell
2026-02-11
4,161 shares · $174,596
SCURLOCK EVA A
Officer
Sell
2026-02-06
3,227 shares · $136,470
Insider transactions can signal confidence or concerns about company prospects

Wall Street Analysts

Professional analyst ratings and price targets

Consensus
BUY
5 analysts
Piper Sandler
2026-02-04
Maintains
Overweight Overweight
Piper Sandler
2025-10-27
Maintains
Overweight Overweight

Past News Coverage

Recent headlines mentioning FRME from our newsroom.

Newest → oldest
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