First Merchants (FRME) Stock Forecast, Price Target & Predictions
FRME Stock Forecast
First Merchants stock forecast is as follows: an average price target of $46.00 (represents a 7.33% upside from FRME’s last price of $42.86) and a rating consensus of 'Buy', based on 4 wall street analysts offering a 1-year stock forecast.
FRME Price Target
The average price target for First Merchants (FRME) is $46.00 based on 1-year price targets from 4 Wall Street analysts in the past 3 months, with a price target range of $47.00 to $45.00. This represents a potential 7.33% upside from FRME's last price of $42.86.
FRME Analyst Ratings
According to 4 Wall Street analysts, First Merchants's rating consensus is 'Buy'. The analyst rating breakdown for FRME stock is 0 'Strong Buy' (0.00%), 4 'Buy' (100.00%), 0 'Hold' (0.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
First Merchants Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Oct 28, 2024 | Nathan Race | Piper Sandler | $47.00 | $37.17 | 26.43% | 9.66% |
| Jul 29, 2024 | Nathan Race | Piper Sandler | $50.00 | $40.78 | 22.61% | 16.66% |
| Jul 26, 2024 | Terry McEvoy | Stephens | $45.00 | $41.69 | 7.94% | 4.99% |
| Apr 29, 2024 | Nathan Race | Piper Sandler | $42.50 | $34.52 | 23.12% | -0.84% |
The latest First Merchants stock forecast, released on Oct 28, 2024 by Nathan Race from Piper Sandler, set a price target of $47.00, which represents a 26.43% increase from the stock price at the time of the forecast ($37.17), and a 9.66% increase from FRME last price ($42.86).
First Merchants Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 1 | 1 | 4 |
| Avg Price Target | $47.00 | $47.00 | $46.13 |
| Last Closing Price | $42.86 | $42.86 | $42.86 |
| Upside/Downside | 9.66% | 9.66% | 7.63% |
In the current month, the average price target of First Merchants stock is $47.00, according to 1 Wall Street analyst offering twelve months forecast. The average price target represents a 9.66% increase as opposed to First Merchants's last price of $42.86. This month's average price target is down 0.00% compared to last quarter, and up 1.89% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Oct 28, 2024 | Piper Sandler | Overweight | Overweight | Hold |
| Aug 28, 2024 | Stephens | Outperform | Outperform | Hold |
| Aug 28, 2024 | Piper Sandler | Underperform | Underperform | Hold |
| Aug 07, 2024 | Stephens | Overweight | Equal-Weight | Downgrade |
| Jul 29, 2024 | Keefe, Bruyette & Woods | Outperform | Outperform | Hold |
| Jul 29, 2024 | Piper Sandler | Overweight | Overweight | Hold |
| Jul 26, 2024 | Stephens | Overweight | Overweight | Hold |
| Apr 29, 2024 | Piper Sandler | Overweight | Overweight | Hold |
| Apr 26, 2023 | Raymond James | Outperform | Outperform | Hold |
First Merchants's last stock rating was published by Piper Sandler on Oct 28, 2024. The company gave FRME a "Overweight" rating, the same as its previous rate.
First Merchants Financial Forecast
First Merchants Revenue Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | $261.84M | $161.22M | $164.15M | $169.12M | $173.11M | $6.58M | $156.94M | $18.64M | $127.12M | $133.22M | $135.15M | $124.52M | $129.79M | $119.08M | $119.50M | $123.68M | $121.83M | $111.05M |
| Avg Forecast | $175.53M | $174.78M | $171.93M | $170.01M | $171.66M | $170.51M | $168.24M | $166.06M | $167.76M | $166.34M | $160.56M | $162.70M | $165.48M | $167.07M | $173.00M | $178.58M | $179.08M | $171.98M | $155.34M | $133.50M | $136.45M | $133.82M | $131.79M | $129.90M | $123.39M | $121.94M | $120.28M | $120.96M | $122.70M | $112.59M |
| High Forecast | $176.82M | $176.06M | $173.18M | $171.25M | $172.91M | $171.75M | $169.47M | $166.48M | $168.07M | $166.51M | $160.56M | $162.70M | $166.00M | $169.45M | $174.27M | $179.89M | $180.39M | $171.98M | $155.34M | $133.50M | $136.45M | $133.82M | $131.79M | $129.90M | $123.39M | $121.94M | $120.28M | $120.96M | $122.70M | $112.59M |
| Low Forecast | $174.16M | $173.41M | $170.58M | $168.68M | $170.31M | $169.17M | $166.93M | $165.64M | $167.45M | $166.16M | $160.56M | $162.70M | $164.96M | $164.70M | $171.65M | $177.19M | $177.68M | $171.98M | $155.34M | $133.50M | $136.45M | $133.82M | $131.79M | $129.90M | $123.39M | $121.94M | $120.28M | $120.96M | $122.70M | $112.59M |
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 1 | 1 | 1 | 2 | 5 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 3 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.58% | 0.97% | 0.95% | 0.95% | 0.97% | 0.04% | 1.01% | 0.14% | 0.93% | 1.00% | 1.03% | 0.96% | 1.05% | 0.98% | 0.99% | 1.02% | 0.99% | 0.99% |
First Merchants's average Quarter revenue forecast for Mar 24 based on 1 analysts is $162.70M, with a low forecast of $162.70M, and a high forecast of $162.70M. FRME's average Quarter revenue forecast represents a -37.86% decrease compared to the company's last Quarter revenue of $261.84M (Dec 23).
First Merchants EBITDA Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 1 | 1 | 1 | 2 | 5 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 3 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | $2.18M | $67.55M | $73.74M | $139.87M | $127.74M | $102.24M | $57.66M | $65.78M | $66.02M | $73.31M | $77.56M | $70.56M | $66.48M | $57.91M | $56.61M | $66.36M | $87.01M | $74.65M |
| Avg Forecast | $75.62M | $75.29M | $74.07M | $73.24M | $73.95M | $73.45M | $72.48M | $71.54M | $72.27M | $71.66M | $69.17M | $87.32M | $71.29M | $71.97M | $74.53M | $79.39M | $75.74M | $63.51M | $57.36M | $62.76M | $50.39M | $49.41M | $48.67M | $56.63M | $45.57M | $45.03M | $44.41M | $66.36M | $45.31M | $41.57M |
| High Forecast | $76.17M | $75.85M | $74.61M | $73.78M | $74.49M | $73.99M | $73.01M | $71.72M | $72.41M | $71.73M | $69.17M | $104.79M | $71.51M | $73.00M | $75.07M | $95.26M | $90.89M | $63.51M | $57.36M | $75.31M | $50.39M | $49.41M | $48.67M | $67.96M | $45.57M | $45.03M | $44.41M | $79.63M | $45.31M | $41.57M |
| Low Forecast | $75.03M | $74.71M | $73.49M | $72.67M | $73.37M | $72.88M | $71.91M | $71.36M | $72.14M | $71.58M | $69.17M | $69.86M | $71.06M | $70.95M | $73.95M | $63.51M | $60.59M | $63.51M | $57.36M | $50.20M | $50.39M | $49.41M | $48.67M | $45.31M | $45.57M | $45.03M | $44.41M | $53.09M | $45.31M | $41.57M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 0.03% | 0.94% | 0.99% | 1.76% | 1.69% | 1.61% | 1.01% | 1.05% | 1.31% | 1.48% | 1.59% | 1.25% | 1.46% | 1.29% | 1.27% | 1.00% | 1.92% | 1.80% |
1 analysts predict FRME's average Quarter EBITDA for Mar 24 to be $87.32M, with a high of $104.79M and a low of $69.86M. This is 3902.04% upper than First Merchants's previous annual EBITDA (Dec 23) of $2.18M.
First Merchants Net Income Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 1 | 1 | 1 | 2 | 5 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 3 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | $42.48M | $56.37M | $60.86M | $64.08M | $70.76M | $63.75M | $38.99M | $48.59M | $47.73M | $52.77M | $55.56M | $49.47M | $45.13M | $36.21M | $32.99M | $34.26M | $47.83M | $36.76M |
| Avg Forecast | $53.63M | $53.92M | $51.88M | $50.13M | $52.56M | $52.27M | $51.39M | $49.93M | $52.23M | $52.56M | $45.58M | $64.50M | $49.90M | $55.08M | $59.26M | $58.64M | $54.76M | $64.58M | $48.88M | $46.35M | $54.83M | $53.95M | $54.05M | $39.71M | $39.08M | $37.02M | $27.56M | $34.26M | $48.93M | $44.96M |
| High Forecast | $54.14M | $54.43M | $52.37M | $50.60M | $53.06M | $52.76M | $51.88M | $50.52M | $53.39M | $52.65M | $46.02M | $77.40M | $50.37M | $56.84M | $59.82M | $70.36M | $65.72M | $64.58M | $48.88M | $55.62M | $54.83M | $53.95M | $56.89M | $47.65M | $39.08M | $37.02M | $27.56M | $41.12M | $48.93M | $44.96M |
| Low Forecast | $53.08M | $53.37M | $51.35M | $49.62M | $52.02M | $51.73M | $50.87M | $49.35M | $51.65M | $52.46M | $45.12M | $51.60M | $49.32M | $53.33M | $58.66M | $46.91M | $43.81M | $64.58M | $48.88M | $37.08M | $54.83M | $53.95M | $51.20M | $31.76M | $39.08M | $37.02M | $27.56M | $27.41M | $48.93M | $44.96M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 0.85% | 1.02% | 1.03% | 1.09% | 1.29% | 0.99% | 0.80% | 1.05% | 0.87% | 0.98% | 1.03% | 1.25% | 1.15% | 0.98% | 1.20% | 1.00% | 0.98% | 0.82% |
First Merchants's average Quarter net income forecast for Mar 24 is $64.50M, with a range of $51.60M to $77.40M. FRME's average Quarter net income forecast represents a 51.84% increase compared to the company's last Quarter net income of $42.48M (Dec 23).
First Merchants SG&A Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 1 | 1 | 1 | 2 | 5 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 3 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | $60.92M | $58.59M | $60.16M | $57.78M | $61.23M | $60.38M | $45.45M | $51.07M | $51.60M | $50.03M | $45.83M | $49.28M | $45.85M | $42.16M | $46.80M | $45.76M | $44.35M |
| Avg Forecast | $66.71M | $66.42M | $65.34M | $64.61M | $65.23M | $64.80M | $63.94M | $63.11M | $63.75M | $63.21M | $61.02M | $977.05K | $62.89M | $63.49M | $65.75M | $888.23K | $58.59M | $56.33M | $50.88M | $702.16K | $44.69M | $43.83M | $43.16M | $36.78M | $40.41M | $39.94M | $39.39M | $46.80M | $40.19M | $36.87M |
| High Forecast | $67.20M | $66.91M | $65.81M | $65.08M | $65.71M | $65.27M | $64.40M | $63.27M | $63.87M | $63.28M | $61.02M | $1.17M | $63.08M | $64.40M | $66.23M | $1.07M | $70.31M | $56.33M | $50.88M | $842.59K | $44.69M | $43.83M | $43.16M | $44.14M | $40.41M | $39.94M | $39.39M | $56.15M | $40.19M | $36.87M |
| Low Forecast | $66.19M | $65.90M | $64.83M | $64.10M | $64.72M | $64.29M | $63.44M | $62.95M | $63.63M | $63.15M | $61.02M | $781.64K | $62.69M | $62.59M | $65.23M | $710.59K | $46.88M | $56.33M | $50.88M | $561.73K | $44.69M | $43.83M | $43.16M | $29.43M | $40.41M | $39.94M | $39.39M | $37.44M | $40.19M | $36.87M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.96% | 0.89% | 67.73% | 0.99% | 1.09% | 1.19% | 64.72% | 1.14% | 1.18% | 1.16% | 1.25% | 1.22% | 1.15% | 1.07% | 1.00% | 1.14% | 1.20% |
First Merchants's average Quarter SG&A projection for Dec 23 is $62.89M, based on 2 Wall Street analysts, with a range of $62.69M to $63.08M. The forecast indicates a 3.23% rise compared to FRME last annual SG&A of $60.92M (Sep 23).
First Merchants EPS Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 1 | 1 | 1 | 2 | 5 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 3 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | $0.71 | $0.95 | $1.02 | $1.07 | $1.20 | $1.08 | $0.64 | $0.91 | $0.89 | $0.98 | $1.03 | $0.92 | $0.83 | $0.67 | $0.62 | $0.63 | $0.87 | $0.71 |
| Avg Forecast | $0.92 | $0.93 | $0.89 | $0.86 | $0.90 | $0.90 | $0.88 | $0.86 | $0.90 | $0.90 | $0.78 | $0.82 | $0.86 | $0.94 | $1.02 | $1.14 | $1.16 | $1.09 | $0.83 | $0.87 | $0.93 | $0.91 | $0.92 | $0.78 | $0.66 | $0.63 | $0.47 | $0.61 | $0.83 | $0.76 |
| High Forecast | $0.93 | $0.93 | $0.90 | $0.87 | $0.91 | $0.91 | $0.89 | $0.87 | $0.92 | $0.90 | $0.79 | $0.83 | $0.86 | $0.98 | $1.03 | $1.15 | $1.17 | $1.09 | $0.83 | $0.87 | $0.93 | $0.91 | $0.96 | $0.78 | $0.66 | $0.63 | $0.47 | $0.61 | $0.83 | $0.76 |
| Low Forecast | $0.91 | $0.92 | $0.88 | $0.85 | $0.89 | $0.89 | $0.87 | $0.85 | $0.89 | $0.90 | $0.77 | $0.82 | $0.85 | $0.91 | $1.01 | $1.13 | $1.15 | $1.09 | $0.83 | $0.87 | $0.93 | $0.91 | $0.87 | $0.78 | $0.66 | $0.63 | $0.47 | $0.61 | $0.83 | $0.76 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 0.83% | 1.01% | 1.00% | 0.94% | 1.03% | 0.99% | 0.77% | 1.04% | 0.96% | 1.07% | 1.13% | 1.18% | 1.25% | 1.07% | 1.33% | 1.03% | 1.05% | 0.93% |
According to 1 Wall Street analysts, First Merchants's projected average Quarter EPS for Mar 24 is $0.82, with a low estimate of $0.82 and a high estimate of $0.83. This represents a 16.06% increase compared to FRME previous annual EPS of $0.71 (Dec 23).
First Merchants Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| HBNC | Horizon Bancorp | $18.04 | $20.50 | 13.64% | Buy |
| HTBI | HomeTrust Bancshares | $37.17 | $42.00 | 12.99% | Buy |
| FRME | First Merchants | $42.86 | $46.00 | 7.33% | Buy |
| NBHC | National Bank | $47.24 | $50.00 | 5.84% | Hold |
| FFNW | First Financial Northwest | $22.25 | $23.50 | 5.62% | Hold |
| FNWB | First Northwest Bancorp | $10.50 | $11.00 | 4.76% | Hold |
| HBCP | Home Bancorp | $48.43 | $50.00 | 3.24% | Buy |
| GABC | German American Bancorp | $45.15 | $45.67 | 1.15% | Buy |
| GSBC | Great Southern Bancorp | $61.69 | $62.00 | 0.50% | Hold |
| IBCP | Independent Bank | $37.29 | $35.50 | -4.80% | Buy |
| FBNC | First Bancorp | $45.32 | $43.00 | -5.12% | Buy |