How Sun Trust Rbsn Humphrey Currently Rates First Merchants (NASDAQ:FRME)
In a recent report revealed to clients and investors on 16 December, Sun Trust Rbsn Humphrey analyst just initiated coverage of First Merchants (NASDAQ:FRME) with Neutral rating.
Approximately 31,748 shares of stock traded hands. First Merchants Corporation (NASDAQ:FRME) has risen 12.40% since May 13, 2015 and is uptrending. It has outperformed by 15.03% the S&P500.
The overall sentiment of institutions has decreased to 0.87 in Q2 2015. Its down 0.49, from 1.36 in 2015Q2. The ratio turned negative, as 20 institutions have sold all the shares of First Merchants Corporation that they owned while 49 funds have taken shares off the table. 14 funds have purchased shares for the first time while 46 added to their positions. These institutions now hold 38.68 million shares or 39.91% more than the 27.65 million shares they owned in 2015Q2.
The Fund Endicott Management Co currently is holding shares equating to 13.72% of its total portfolio in First Merchants Corporation representing a total of 1.41 million shares. Another fund,Castle Creek Capital Partners Iv Lp, is holding a total of 1.39 million shares equating to 12.35% of their holdings. Additionally, Pl Capital Advisors Llc has a 543,540 share stake in First Merchants Corporation which represents 5.19% of their total portfolio. The Fund, Castine Capital Management Llc, based out of Massachusetts, has also built up a stake in the stock, which represents a total of 3.6% of their total portfolio. Finally Fcg Advisors Llc, a fund which is based in the state of New Jersey reported a total holdings of 100,614 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 24, 2015, shareholders of First Merchants Corporation have witnessed 3 buys, and a total of 0 selling transactions equating to a net activity of approximately $2,491 . Lorentson Jeffrey B bought 15 shares worth approximately $330. Lehman Gary bought 64 shares worth approximately $1,666. Sherman Patrick A bought 19 shares worth approximately $495. Stewart Michael J bought 55 shares worth approximately $1,065. The company insider Ellington Kimberly J sold 1,600 shares worth $37,792.
First Merchants Corporation is a financial holding Company. The company has a market cap of $972.16 million. The Firm has one full-service bank charter, First Merchants Bank, National Association , which opened for business in Muncie, Indiana. It has 14.51 P/E ratio. The Bank also operates Lafayette Bank and Trust, Commerce National Bank and First Merchants Trust Company as divisions of First Merchants Bank, N.A.
According to Zacks Investment Research, “FIRST MERCHANTS CORP. is a bank holding company engaged in conducting commercial banking business through the offices of its banking subsidiaries.”