Stocktoria
FIRST MERCHANTS CORP FRME
FIRST MERCHANTS CORP (FRME) earns a Piotroski F-score of 5/9 (mixed financial health). It pays a dividend yielding 3.01% (safety: safe).
Quality score trend · recomputed for each fiscal year
Each year's score is computed from that year's filing — a rising Piotroski F or Altman Z″ means improving financial health, a fall is worth a look.
Analyst price target
Recent analyst actions
| Date | Firm | Rating |
|---|---|---|
| 2026-06-26 | Piper Sandler | Overweight (main) |
| 2026-02-04 | Piper Sandler | Overweight (main) |
| 2025-10-27 | Piper Sandler | Overweight (main) |
| 2025-09-29 | Stephens & Co. | Equal-Weight (reit) |
| 2025-09-26 | Raymond James | Market Perform (down) |
| 2025-09-26 | Keefe, Bruyette & Woods | Outperform (main) |
Wall Street analyst consensus — a sentiment gauge, not our scoring.
Smart money · insiders, last 12 months
Open-market insider purchases minus sells (SEC Form 4) — real buying with their own money is a bullish “smart money” signal; grants and option exercises are excluded.
How it ranks in Finance, Insurance & Real Estate · percentile among 1129 companies
Percentile vs other Finance, Insurance & Real Estate companies we cover — e.g. “stronger than 90%” means only 10% score higher on that measure.
Piotroski F breakdown · 5/9 tests passed
- Positive return on assets
- Positive operating cash flow
- Rising ROA
- Cash flow exceeds net income
- Lower long-term debt
- Rising current ratio
- No share dilution
- Rising gross margin
- Rising asset turnover
Sector peers · similar-size Finance, Insurance & Real Estate companies compare side by side →
| Ticker | Company | Piotroski F | Altman Z″ | P / E | Revenue growth |
|---|---|---|---|---|---|
| FRME | FIRST MERCHANTS CORP | 5/9 | — | 12.2 | — |
| MFG | MIZUHO FINANCIAL GROUP INC | 4/9 | — | — | +7.6% |
| JPM | JPMORGAN CHASE & CO | 2/9 | — | 15.5 | +2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | 5/9 | — | 13.5 | +6.8% |
| C | CITIGROUP INC | 3/9 | — | 17 | +5.6% |
| COF | CAPITAL ONE FINANCIAL CORP | 4/9 | — | 51.2 | +36.6% |
| USB | US BANCORP DE | 6/9 | — | 12.1 | +4.4% |
All Finance, Insurance & Real Estate companies →
About FIRST MERCHANTS CORP
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.
FAQ
Is FRME financially healthy?
FIRST MERCHANTS CORP's Piotroski F-score is 5/9 (8–9 is excellent, 0–3 weak).
Does FRME pay a dividend, and is it safe?
Yes. FIRST MERCHANTS CORP pays a dividend yielding about 3.01% with a 36.7% payout ratio, rated “safe” for safety.
How profitable is FRME?
In FY2025, FIRST MERCHANTS CORP had a return on equity of 9.2%.
Is FRME overvalued or undervalued?
FIRST MERCHANTS CORP trades at about 11.1× trailing earnings — below its 10-year norm (10-year range 9.1×–20.4×, median 12.5×). Stocktoria reports the data, not buy/sell advice.
What is the analyst price target for FRME?
The average Wall-Street price target for FIRST MERCHANTS CORP is $48.00, about 11.0% above the recent price, from 5 analysts (consensus: buy).
Is FRME a good stock to buy?
Stocktoria doesn't give buy or sell advice, but here is the data on FIRST MERCHANTS CORP: a Piotroski F-score of 5/9, a P/E of about 12.2×, a dividend yield of 3.01%. Weigh these quality and valuation signals against your own goals.
Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.