NVDA+0.84%AAPL−2.51%GOOGL−1.17%MSFT−2.04%AMZN−0.15%TSM+2.85%SPCX−1.20%AVGO+0.21%
StockVS

NASDAQ · Banks - Regional · USD

First Merchants Corporation (FRME) Stock Analysis

First Merchants Corporation (FRME) is a Banks - Regional stock listed on NASDAQ and quoted in US Dollar.

FRME

$42.06

−$0.04 (−0.10%)

Sep 4, 2026 · Market close

Compare

Price History

Hover for the daily close. The dotted line marks the period open.

Compare FRME with… →

FRME Key Statistics

As of Sep 4, 2026
Trading
Open
$41.58
Previous Close
$42.10
Day's Range
41.47–42.18
52-Week Range
34.66–45.33
Volume
439.60K
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
0.85
Valuation
Market Cap
$2.64B
P/E Ratio
13.57
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
9.38
PEG RatioThe P/E ratio divided by the expected earnings growth rate. It puts a high P/E in the context of how fast profits are growing.
1.40
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
4.11
EPS (ttm)Profit attributable to each share over the last twelve months.
3.10
Financials (FY)
Revenue (FY)
$662.95M+5.78%
Net Income (FY)
$226.00M+12.21%
Profit marginThe share of revenue left as profit after all costs and taxes.
28.96%
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
62.80M
1-Year Return
+4.21%
Dividend and dates
Dividend
$1.48+3.51%
Ex-Dividend Date
September 4, 2026
Earnings Date
October 21, 2026
Avg Volume
431.68K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

FRME Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)+14.33%
2025−2.55%
2024+11.83%
2023−5.82%
2022+1.11%
2021+14.99%
2020−6.93%
2019+24.62%
2018−16.93%
2017+13.63%
2016 (partial year)+39.69%

As of September 4, 2026.

FRME Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025$662.95M$226.00M34.1%
2024$626.71M$201.40M32.1%
2023$651.00M$223.79M34.4%
2022$628.14M$222.09M35.4%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025$662.95M——$226.00M34.1%
2024$626.71M——$201.40M32.1%
2023$651.00M——$223.79M34.4%
2022$628.14M——$222.09M35.4%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

FRME Dividend History

$1.43+2.9% vs 2024

Dividends per share, 2025 · 4 payments

YearDividends per sharePaymentsChange
2026*$1.103—
2025$1.434+2.9%
2024$1.394+3.7%
2023$1.344+7.2%
YearDividends per sharePaymentsChange
2026 (partial year)$1.103—
2025$1.434+2.9%
2024$1.394+3.7%
2023$1.344+7.2%
2022$1.254+10.6%
2021$1.134+8.7%
2020$1.044+4.0%
2019$1.004+19.0%
2018$0.844+21.7%
2017$0.694+360.0%
2016$0.151—

Most recent payment: $0.37 per share, ex-dividend September 4, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

FRME Valuation vs Banks - Regional Median

Median of 380 stocks
MetricFRMEBanks - Regional medianvs median
P/E13.5712.628% above
P/S ratio4.113.779% above
Profit margin28.96%29.15%0.2 pts below

Medians across 380 Banks - Regional stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Recent News

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

First Merchants Corporation (FRME) carries a market capitalisation of $2.64B. The company sits in the Financial Services sector, in the Banks - Regional industry. Headcount on file is 2,086.

FRME last closed at $42.06 on September 4, 2026. That is −$0.04 (−0.10%) against the previous close. Over the past 52 weeks the price has ranged from $34.66 to $45.33. The latest close sits 21.35% above that 52-week low.

Financial Health

Fiscal 2025 revenue came to $662.95M. That is +5.78% against the prior fiscal year, when revenue was $626.71M. Net income for the same year was $226.00M. That is +12.21% against the prior fiscal year. Profit margin runs at 28.96%. That is 0.2 percentage points below the Banks - Regional median of 29.15%. Earnings per share on a trailing basis come to 3.1.

Across the 4 fiscal years on file, revenue moves from $628.14M in 2022 to $662.95M in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

FRME trades at a trailing price-to-earnings ratio of 13.57. That is 7.53% above the Banks - Regional median of 12.62. On forward earnings the ratio is 9.38. The PEG ratio, which sets the P/E against expected earnings growth, reads 1.4. Measured against sales, the shares trade at 4.11 times revenue. On price-to-sales that is 9.07% above the Banks - Regional median of 3.77. 380 Banks - Regional companies report these metrics, and the medians quoted come from that group.

Over the trailing twelve months the price has returned +4.21%. Measured over 10 years, that is +7.61% a year compounded. The reported beta is 0.85. Annualized volatility over the trailing 10 years is 32.81%.

Growth & Income

The trailing dividend yield is 3.51%. That is 0.8 percentage points above the Banks - Regional median yield of 2.7%. At the indicated rate that is $1.48 a share a year. The ex-dividend date on file is September 4, 2026. Dividends are recorded for 11 calendar years; 2026 shows 3 payments totalling $1.10 a share. The year before, 2025, totalled $1.43 a share.

So far in 2026 the price is +14.33%. Across the complete calendar years on file, 2019 returned +24.62% and 2018 returned −16.93%. Of the 9 complete calendar years on file, 5 finished higher.

Peer Comparison

First Merchants Corporation (FRME) operates in the Banks - Regional industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
First Merchants Corporation FRME $2.64B 13.6
Mizuho Financial Group, Inc. MFG $135.92B 16.0
HDFC Bank Limited HDB $119.10B 16.0
ICICI Bank Limited IBN $108.74B 18.7

The Banks - Regional industry average P/E ratio is 12.6x. First Merchants Corporation trades at a P/E of 13.6.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of September 4, 2026.

Related Banks - Regional Stocks

MFG

Mizuho Financial Group, Inc.

$135.92B

 HDB

HDFC Bank Limited

$119.10B

 IBN

ICICI Bank Limited

$108.74B

 USB

U.S. Bancorp

$98.73B

 PNC

The PNC Financial Services Group, Inc.

$97.98B

 ITUB

Itaú Unibanco Holding S.A.

$89.83B
View all Banks - Regional stocks →

Popular Financial Services Stocks

BRK-B

Berkshire Hathaway Inc.

$1.08T

 JPM

JPMorgan Chase & Co.

$953.33B

 V

Visa Inc.

$700.27B

 MA

Mastercard Incorporated

$507.39B

 BAC

Bank of America Corporation

$438.31B
View all Financial Services stocks →

About First Merchants Corporation

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, refinance, construction or renovation of residential properties, agricultural lending, treasury management services and depository products. It also provides personal and commercial wealth management services, 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.

Visit website →