First Merchants (FRME) came out with quarterly earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.40%. A quarter ago, it was expected that this bank would post earnings of $0.78 per share when it actually produced earnings of $0.68, delivering a surprise of -12.82%.Over the last four quarters, the company has ...

MUNCIE, Ind., Oct. 24, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ - FRME) Third Quarter 2024 Highlights: Net income available to common stockholders was $48.7 million and diluted earnings per common share totaled $0.84, compared to $55.9 million and $0.94 in the third quarter of 2023, and $39.5 million and $0.68 in the second quarter of 2024.   Excluding the loss from repositioning of the available for sale securities portfolio, adjusted net income was $55.6 million or $0.95 per share for ...

MUNCIE, Ind., Oct. 03, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation (Nasdaq:FRME) will report third quarter 2024 financial results on October 24, 2024. The Corporation will host a third quarter 2024 earnings conference call and webcast at 11:30 a.m. (ET) on Thursday, October 24, 2024. To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: (https://register.vevent.com/register/BI34430e309ed545808c7c8195f36e86b6) In ...

First Merchants (FRME) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a cha ...

First Merchants (FRME) closed the last trading session at $35.82, gaining 10.2% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $46.60 indicates a 30.1% upside potential. The mean estimate comprises five short-term price targets with a standard deviation of $2.07. While the lowest estimate of $45 indicates a 25.6% increase from the current price level, the most optimistic analyst e ...

Core Viewpoint - The article discusses the momentum investing strategy, highlighting First Merchants (FRME) as a strong candidate due to its positive price trends and earnings estimate revisions. Company Overview - First Merchants (FRME) currently holds a Momentum Style Score of A, indicating strong momentum characteristics [5] - The company has a Zacks Rank of 2 (Buy), suggesting favorable investment potential [10] Price Performance - FRME shares have increased by 6.79% over the past week, outperforming the Zacks Banks - Midwest industry, which rose by 4.87% during the same period [6] - Over the last month, FRME's price change is 22.87%, compared to the industry's 14.93% [6] - In the last quarter, shares of FRME have risen by 15.21%, and over the past year, they have gained 25.47% [12] Earnings Estimates - In the past two months, one earnings estimate for FRME has moved higher, increasing the consensus estimate from $3.25 to $3.28 [4] - For the next fiscal year, two estimates have been revised upwards, with no downward revisions [4] Trading Volume - FRME's average 20-day trading volume is 257,052 shares, which serves as a baseline for price-to-volume analysis [3] - A rising stock with above-average volume is generally considered a bullish sign, while a declining stock with above-average volume is typically bearish [3] Investment Strategy - Momentum investing involves following a stock's recent price trends, with the aim of buying high and selling higher [9] - The Zacks Momentum Style Score incorporates both price changes and estimate revision trends, which are crucial for identifying promising stocks [13]

First Merchants (FRME) came out with quarterly earnings of $0.68 per share, missing the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $1.02 per share a year ago. These figures are adjusted for non-recurring items. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While First Merchants has underperformed the market so far this year, t ...

Financial Performance - Net income available to common stockholders for Q2 2024 was $39.5 million, down from $60.4 million in Q2 2023, with diluted earnings per share at $0.68 compared to $1.02 in the same period last year[2]. - The net income for Q2 2024 was $39,925,000, down from $60,862,000 in Q2 2023, representing a decrease of 34.4%[23]. - Basic net income available to common stockholders was $0.68 per share in Q2 2024, compared to $1.02 per share in Q2 2023, a decline of 33.3%[23]. - Adjusted Net Income Available to Common Stockholders for Q2 2024 was $39,456,000, compared to $50,105,000 in Q1 2024, reflecting a decrease of 21.1%[28]. - Return on Average Assets for Q2 2024 was 0.87%, a decrease from 1.34% in Q2 2023[20]. - Return on Tangible Common Equity (Non-GAAP) for Q2 2024 was 11.29%, down from 13.21% in Q1 2024, a decline of 1.92 percentage points[30]. Asset and Liability Management - Total assets reached $18.3 billion, with total loans at $12.7 billion, reflecting a growth of $374.4 million, or 3.0 percent, over the past twelve months[3]. - Total assets as of June 30, 2024, were $18,303,423, a slight decrease of 0.1% from $18,317,803 on March 31, 2024[22]. - Total liabilities remained stable at $16,090,898 as of June 30, 2024, compared to $16,093,000 on March 31, 2024[22]. - Total liabilities increased to $16,128,798 thousand as of June 30, 2024, compared to $16,030,772 thousand in the previous year, a growth of 0.61%[27]. Deposits and Loans - Total deposits decreased by $315.5 million, or 8.5 percent annualized on a linked quarter basis, totaling $14.6 billion at quarter-end[4]. - Total deposits decreased to $14,569,070,000 in Q2 2024 from $14,581,155,000 in Q2 2023, a slight decline of 0.1%[25]. - Total loans reached $12,639,650,000 as of June 30, 2024, compared to $12,270,233,000 a year earlier, marking an increase of 3.0%[24]. - Net loans increased to $12,450,113 as of June 30, 2024, up 1.5% from $12,260,901 on March 31, 2024[22]. Income and Expenses - Noninterest income increased to $31.3 million, a rise of $4.7 million, or 17.6 percent, compared to the first quarter of 2024[8]. - Noninterest expense totaled $91.4 million, a decline of $5.5 million from the first quarter of 2024, driven by lower salaries and employee benefits[9]. - The efficiency ratio for the quarter was 53.84 percent, better than the target of less than 55 percent[5]. - The Efficiency Ratio for Q2 2024 was 53.84%, compared to 52.21% in Q2 2023, indicating a decline in operational efficiency[20]. Credit Quality - The Allowance for Credit Losses – Loans (ACL) was $189.5 million, or 1.50 percent of total loans, with loan charge-offs totaling $39.6 million for the quarter[6]. - Non-performing assets to total assets were 0.36 percent, a slight decrease from 0.37 percent in the prior quarter[6]. - Net Charge-offs for Q2 2024 were $39,644,000, significantly higher than $1,905,000 in Q2 2023[20]. - The allowance for credit losses on loans was $189,537,000 as of June 30, 2024, down from $221,147,000 in Q2 2023, indicating improved credit quality[24]. Interest Income and Margin - Total Interest Income for Q2 2024 increased to $236,381,000, up from $221,365,000 in Q2 2023, representing a growth of 6.5%[19]. - Net Interest Income after Provision for Credit Losses decreased to $104,071,000 in Q2 2024 from $137,835,000 in Q2 2023, a decline of 24.5%[19]. - The net interest margin (FTE) for the three months ended June 30, 2024, was 3.16%, compared to 3.39% for the same period in 2023, indicating a decline of 6.79%[26]. - Net Interest Margin (GAAP) for Q2 2024 was 3.02%, compared to 2.97% in Q1 2024, showing an improvement of 0.05 percentage points[29].

Core Insights - First Merchants Corporation reported a net income of $39.5 million for Q2 2024, a decrease from $60.4 million in Q2 2023 and $47.5 million in Q1 2024, with diluted earnings per share at $0.68 compared to $1.02 in Q2 2023 [1][22] - The company maintains a strong capital position with a Common Equity Tier 1 Capital Ratio of 11.02 percent and a total risk-based capital ratio of 12.95 percent [5][22] - The net interest margin improved to 3.16 percent, up from 3.10 percent in the previous quarter, while total loans increased by $191.2 million, or 6.1 percent annualized, compared to the prior quarter [1][24] - Total deposits decreased by $315.5 million, or 8.5 percent annualized, on a linked quarter basis, with noninterest-bearing deposits remaining stable [3][22] Financial Performance - Total assets reached $18.3 billion, with total loans amounting to $12.7 billion, reflecting a growth of $374.4 million, or 3.0 percent, over the past twelve months [2][22] - Noninterest income for the quarter was $31.3 million, an increase of $4.7 million, or 17.6 percent, compared to Q1 2024, driven by higher gains on loan sales and private wealth fees [4][22] - Noninterest expenses totaled $91.4 million, a decline of $5.5 million from Q1 2024, attributed to lower salaries and employee benefits [25][22] Asset Quality - The Allowance for Credit Losses on loans was $189.5 million, representing 1.50 percent of total loans, with net charge-offs for the quarter totaling $39.6 million [24][22] - Nonperforming assets to total assets were 0.36 percent, a slight decrease from 0.37 percent in the prior quarter [24][22] Efficiency Metrics - The efficiency ratio for the quarter was 53.84 percent, better than the company's target of less than 55 percent [22][25] - Return on average assets was 0.87 percent, while return on average stockholders' equity was 7.16 percent [22][24]

Alistair Berg An old bank you have likely never heard of Business Highlights Michigan Monroe MSA Rank: 1 Detroit MSA Rank: 9 Deposits: $2.7B Loans: $2.7B Northeast Indiana Muncie MSA Rank: 1 Ft Wayne MSA Rank: 3 Deposits: $4.4B Northwest Indiana Loans: $1.9B Lake County Rank: 4 Columbus Lafayette MSA Rank: 2 Columbus MSA Rank: 14 Deposits: $0.7B Deposits: $3.4B Loans: $2.3B Loans: $1.4B Indianapolis Indianapolis MSA Rank: 8 Deposits: $3.7B Loans: $4.2B Operationally speaking, First Merchants is spread acros ...