Intrinsiqq
First Merchants Corporation logo

First Merchants Corporation

FRME

⊜ Compare

First Merchants Corporation (the Corporation ) is a financial holding company headquartered in Muncie, Indiana and was organized in September 1982. The Corporation's common stock is traded on the Nasdaq Global Select Market System under the symbol FRME.

Valuation & Multiples

Based on TTM earnings · Diluted shares

Market Cap$2.63B
EPS$3.22
P/E13.01
Div. Yield3.43%
Net Margin–
P/Book1.0x
First Merchants Corporation intrinsic value
52-Week Range
$34.99$45.23

Profitability & Returns

Revenue

N/A

Net Income (TTM)

$198M

▲ +12.2% YoY

Net Margin

–

P/E

13.01

Balance Sheet

Total Assets

$21.06B

Equity

$2.64B

Total Debt

$0.00

Cash & Equiv.

$87M

Continue Research

Peers

National Commercial Banks · Pick stocks to compare with FRME

CompareIntrinsic value
BACBank of America Corporation
$51.63+3.97%70
CFRCullen/Frost Bankers Inc.
$159.69+0.35%73
WFCWells Fargo & Company
$87.43+2.22%80
ONBOld National Bancorp
$25.89+1.85%79
HBANHuntington Bancshares Incorporated
$16.06+1.26%62
USBU.S. Bancorp
$61.03+1.90%82
WSFSWSFS Financial Corporation
$81.08+1.48%87
NBHCNational Bank Holdings Corporation
$38.21+1.92%39

Held by ETFs

FRME is in 78 US ETFs. The largest of them, with FRME's weight in each:

First Merchants (FRME) in four numbers

Fair value (book value)
$38.48
Price $41.89 is 9% above it.
Intrinsic Value
Quality score
51/100
Best check: capital adequacy, 12.5%. Weakest: share count change, 7.7%.
Quality
Dividend (TTM)
$1.46
3.43% yield, raised 14 years in a row.
Dividends
P/E
13.01
From the last twelve months of earnings.
Financials

Questions about First Merchants

Is First Merchants (FRME) overvalued?

At $41.89, First Merchants' price is 9% above the $38.48 a share fair value that Intrinsiqq's calculator gets from its book value. It trades at 13.01 times earnings. The growth behind that figure is yours to set on the Intrinsic Value tab. See how to tell if a stock is overvalued.

What is First Merchants' fair value?

Intrinsiqq's calculator puts First Merchants' fair value at $38.48 a share. It grows book value per share 4.3% a year for 5 years, applies an exit P/B of 1, and works back at a 10% yearly return. A 25% margin of safety gives a buy-below price of $28.86. Every input can be changed on the Intrinsic Value tab.

Is First Merchants a high-quality business?

First Merchants scores 51 out of 100 on Intrinsiqq's quality score, which makes it a mixed business on these measures. The score blends 6 checks computed from SEC filings. Its best check is capital adequacy at 12.5%, and its weakest is share count change at 7.7%. The Quality tab shows every check against its target.

Does First Merchants (FRME) pay a dividend, and how much?

Yes. First Merchants (FRME) pays a dividend: $1.46 per share over the last twelve months, a dividend yield of 3.43% at the latest close. It has raised its dividend per share for 14 years in a row, growing at 6.6% a year over the last 5 years. The payout takes about 45.6% of earnings.

Source: 10-Q filed 27 Oct 2026 (period ending 30 Sept 2026), SEC. Price: last close 4 Nov 2026. How this is calculated. Sector medians are approximate S&P 500 benchmarks and update periodically. Analysis, not investment advice.

Spot a number that looks wrong? Check it in FRME's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

2 of 2 free stocks used today

Keep analysing FRME

Create a free account and get 14 days of Premium: every stock and every tool.

  • Unlimited stocks
  • Stock screener
  • Portfolio tracker
  • Editable DCF
  • Compare side by side
  • Unlimited alerts

No card. Moves to Free after, unless you upgrade.

Already have an account?

Or come back tomorrow. Stocks on your watchlist are always free to view.

SectorsPrivacyTerms© 2026 Intrinsiqq

Not financial advice. Analytical data for research only.

Intrinsiqq is a Netherlands-based company operating in Rotterdam, KvK 73238007.