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Ranked #3050 by analyst upside · 2026-09-28
FRME
First Merchants Corporation
Financial Services · Market Cap $3B · P/E 13.1x
ANALYST PRICE TARGET
+17.9%
implied upside to consensus target
Current Price $40.71
Consensus Target $48.0
Bull Target $51.0
Bear Target $45.0
Analysts Covering 5
ANALYST CONSENSUS - BUY
Strong Buy
2
Buy
2
Hold
2
Sell
0
52-Week Low $34.66
52-Week High $45.33
YTD Return +11.6%
FUNDAMENTALS
Market Cap $3B
P/E Ratio (TTM) 13.1x
Forward P/E 9.1x
EPS (TTM) $3.11
PEG Ratio 1.40
Dividend Yield 3.64%
Revenue (TTM) $642M
Profit Margin 29.0%
52-WEEK RANGE
52-Week Low $34.66
52-Week High $45.33
Current Price $40.71
Bear Target $45.0
Bull Target $51.0
● Now $40.71 ● Target $48.0
TRADING DATA
Avg Volume 441K
YTD Return +11.6%
Analyst Count 5
Consensus Buy
Upside to Target +17.9%
Last Updated 2026-09-28

ANALYST SUMMARY

First Merchants Corporation (FRME) is currently trading at $40.71 with a Wall Street consensus price target of $48.0, implying potential upside of 17.9% over the next 12 months. 5 analysts currently cover FRME, with a consensus rating of Buy - 67% of analysts rate the stock a Buy or Strong Buy. The most bullish analyst has a price target of $51.0, while the most cautious has a target of $45.0.

FRME operates in the Financial Services sector with a market capitalisation of $3B. The stock is up 11.6% year-to-date and is currently trading near the upper end of its 52-week range of $34.66 – $45.33.

SIMILAR STOCKS

Other Financial Services stocks with comparable size and valuation.

RECENT ANALYST CALLS

Upgrade/downgrade history for FRME, with each firm's 90-day track record across all stocks we track. See full firm rankings →

Piper Sandler - Reiterated
Overweight → Overweight 2026-06-26 14% win rate (7 calls)
Piper Sandler - Reiterated
Overweight → Overweight 2026-02-04 14% win rate (7 calls)
Piper Sandler - Reiterated
Overweight → Overweight 2025-10-27 14% win rate (7 calls)
Stephens & Co. reit
Equal-Weight → Equal-Weight 2025-09-29 Building track record
Raymond James ↓ Downgrade
Outperform → Market Perform 2025-09-26 Building track record
Keefe, Bruyette & Woods - Reiterated
Outperform → Outperform 2025-09-26 Building track record
Piper Sandler - Reiterated
Overweight → Overweight 2025-07-28 14% win rate (7 calls)
Raymond James - Reiterated
Outperform → Outperform 2025-04-28 Building track record
HISTORICAL SNAPSHOT

Point-in-time data from StockUpside's daily snapshots. Tracks price, analyst target, upside %, consensus, and analyst count.

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ANALYST CONVICTION SCORE
55
out of 100
Coverage depth
14/30
Consensus clarity
27/30
Vote unanimity
12/25
Rating stability
2/15

Measures analyst agreement, not fundamental quality. A high score means analysts broadly agree on this call - not that the stock will go up.

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