First Merchants Co. (NASDAQ:FRMEP) Sees Large Growth in Short Interest

First Merchants Co. (NASDAQ:FRMEP) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,400 shares, a growth of 133.3% from the September 30th total of 600 shares. Based on an average daily volume of 900 shares, the short-interest ratio is presently 1.6 days.

First Merchants Stock Performance

Shares of FRMEP remained flat at $25.75 during mid-day trading on Friday. The stock had a trading volume of 410 shares, compared to its average volume of 1,272. First Merchants has a 1 year low of $23.00 and a 1 year high of $26.43. The firm’s 50 day moving average is $25.39 and its 200-day moving average is $25.30.

First Merchants Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.4688 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.88 dividend on an annualized basis and a yield of 7.28%.

First Merchants Company Profile

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans.