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 12.50% upside from FRME’s last price of $40.89) 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 12.50% upside from FRME's last price of $40.89.
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% | 14.94% |
| Jul 29, 2024 | Nathan Race | Piper Sandler | $50.00 | $40.78 | 22.61% | 22.28% |
| Jul 26, 2024 | Terry McEvoy | Stephens | $45.00 | $41.69 | 7.94% | 10.05% |
| Apr 29, 2024 | Nathan Race | Piper Sandler | $42.50 | $34.52 | 23.12% | 3.94% |
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 14.94% increase from FRME last price ($40.89).
First Merchants Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 1 | 4 |
| Avg Price Target | - | $47.00 | $46.13 |
| Last Closing Price | $40.89 | $40.89 | $40.89 |
| Upside/Downside | -100.00% | 14.94% | 12.81% |
In the current month, the average price target of First Merchants stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to First Merchants's last price of $40.89. This month's average price target is down -100.00% compared to last quarter, and down -100.00% 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 | $177.22M | $176.62M | $174.05M | $171.87M | $172.00M | $170.93M | $168.58M | $166.16M | $167.72M | $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 | $178.81M | $178.20M | $175.61M | $173.41M | $173.54M | $172.46M | $170.09M | $166.58M | $168.03M | $166.51M | $160.56M | $162.70M | $166.00M | $169.45M | $174.55M | $180.19M | $180.69M | $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 | $175.58M | $174.98M | $172.43M | $170.28M | $170.40M | $169.34M | $167.02M | $165.74M | $167.41M | $166.16M | $160.56M | $162.70M | $164.96M | $164.70M | $171.40M | $176.92M | $177.42M | $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 | $76.19M | $75.93M | $74.83M | $73.89M | $73.95M | $73.49M | $72.48M | $71.44M | $72.11M | $71.51M | $69.03M | $87.32M | $71.14M | $71.83M | $74.38M | $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 | $76.88M | $76.61M | $75.50M | $74.56M | $74.61M | $74.15M | $73.13M | $71.62M | $72.24M | $71.59M | $69.03M | $104.79M | $71.37M | $72.85M | $75.05M | $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 | $75.48M | $75.23M | $74.13M | $73.21M | $73.26M | $72.80M | $71.80M | $71.26M | $71.97M | $71.44M | $69.03M | $69.86M | $70.92M | $70.81M | $73.69M | $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 | $55.37M | $55.76M | $54.01M | $52.27M | $52.75M | $52.65M | $51.68M | $50.03M | $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 | $56.02M | $56.41M | $54.64M | $52.88M | $53.37M | $53.27M | $52.29M | $50.62M | $53.39M | $52.65M | $46.11M | $77.40M | $50.48M | $56.84M | $59.95M | $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 | $54.71M | $55.09M | $53.36M | $51.63M | $52.11M | $52.02M | $51.06M | $49.44M | $51.65M | $52.46M | $45.03M | $51.60M | $49.32M | $53.33M | $58.54M | $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 | $62.71M | $62.49M | $61.59M | $60.82M | $60.86M | $60.48M | $59.65M | $58.79M | $59.35M | $58.86M | $56.81M | $977.05K | $58.55M | $59.12M | $61.21M | $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 | $63.27M | $63.05M | $62.14M | $61.36M | $61.40M | $61.02M | $60.19M | $58.94M | $59.46M | $58.92M | $56.81M | $1.17M | $58.74M | $59.96M | $61.76M | $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 | $62.13M | $61.91M | $61.01M | $60.25M | $60.29M | $59.92M | $59.10M | $58.65M | $59.23M | $58.79M | $56.81M | $781.64K | $58.37M | $58.28M | $60.65M | $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 % | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.03% | 0.96% | 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 $58.55M, based on 2 Wall Street analysts, with a range of $58.37M to $58.74M. The forecast indicates a -3.88% fall 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 | $0.95 | $0.96 | $0.93 | $0.90 | $0.91 | $0.90 | $0.89 | $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 | $0.96 | $0.97 | $0.94 | $0.91 | $0.92 | $0.91 | $0.90 | $0.87 | $0.92 | $0.90 | $0.79 | $0.83 | $0.87 | $0.98 | $1.03 | $1.15 | $1.18 | $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 | $0.94 | $0.95 | $0.92 | $0.89 | $0.89 | $0.89 | $0.88 | $0.85 | $0.89 | $0.90 | $0.77 | $0.81 | $0.85 | $0.91 | $1.00 | $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 $0.81 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 |
|---|---|---|---|---|---|
| HTBI | HomeTrust Bancshares | $36.35 | $42.00 | 15.54% | Buy |
| NBHC | National Bank | $45.56 | $50.00 | 9.75% | Hold |
| FRME | First Merchants | $42.74 | $46.00 | 7.63% | Buy |
| FFNW | First Financial Northwest | $21.85 | $23.50 | 7.55% | Hold |
| FNWB | First Northwest Bancorp | $10.36 | $11.00 | 6.18% | Hold |
| GABC | German American Bancorp | $43.81 | $45.67 | 4.25% | Buy |
| HBNC | Horizon Bancorp | $17.33 | $18.00 | 3.87% | Buy |
| HBCP | Home Bancorp | $48.80 | $50.00 | 2.46% | Buy |
| GSBC | Great Southern Bancorp | $64.79 | $62.00 | -4.31% | Hold |
| IBCP | Independent Bank | $37.31 | $35.50 | -4.85% | Buy |
| FBNC | First Bancorp | $47.35 | $43.00 | -9.19% | Buy |