Revenue Update on First Merchants Corporation(NASDAQ:FRME)

First Merchants Corporation(NASDAQ:FRME) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $72.35M. Analysts estimated a revenue of $74.37M. Earnings per share were $0.49. Analysts had estimated an EPS of $0.46.

In a different note, DA Davidson said it Initiates Coverage on First Merchants Corporation, according to a research note issued on Jul 21, 2016. The shares have been rated ‘Buy’ by the firm.

First Merchants Corporation (FRME) shares turned negative on Fridays trading session with the shares closing down -0.17 points or -0.64% at a volume of 93,336. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $26.45. The peak price level was also seen at $26.45 while the days lowest was $26.05. Finally the shares closed at $26.2. The 52-week high of the shares is $27.598 while the 52-week low is $21.1006. According to the latest information available, the market cap of the company is $1,068 M.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Patrick A Sherman (director) purchased 21 shares at $24.39 per share price.Also, On Jul 5, 2016, Gary Lehman (director) purchased 68 shares at $24.39 per share price.On Jul 5, 2016, Michael J Stewart (Chief Banking Officer) purchased 43 shares at $21.13 per share price, according to the Form-4 filing with the securities and exchange commission.

First Merchants Corporation is a financial holding Company. The Company has one full-service bank charter First Merchants Bank National Association (the Bank) which opened for business in Muncie Indiana. The Bank also operates Lafayette Bank and Trust Commerce National Bank and First Merchants Trust Company as divisions of First Merchants Bank N.A. The Bank includes 106 banking locations in 26 Indiana two Illinois and two Ohio counties. The Company’s delivery channels include automated teller machines check cards remote deposit capture interactive voice response systems and internet technology. Through the Bank it offers financial services including accepting time deposits savings and demand deposits; making consumer commercial agri-business and real estate mortgage loans; renting safe deposit facilities; providing personal and corporate trust services; providing full-service brokerage and providing corporate services letters of credit and repurchase agreements.

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