The CFO & COO of First Merchants (NASDAQ: FRME) is Buying Shares

Yesterday, the CFO & COO of First Merchants (FRMEResearch Report), Mark Hardwick, bought shares of FRME for $59.96K.

This recent transaction increases Mark Hardwick’s holding in the company by 2.67% to a total of $2.31 million. In addition to Mark Hardwick, one other FRME executive reported Buy trades in the last month.

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Based on First Merchants’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $119 million and quarterly net profit of $32.99 million. In comparison, last year the company earned revenue of $107 million and had a net profit of $41.06 million. The company has a one-year high of $42.48 and a one-year low of $21.18. Currently, First Merchants has an average volume of 569.03K.

Mark Hardwick’s trades have generated a 2.8% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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First Merchants Corp. (Indiana) is a holding company, which engages in the provision of financial services. It operates through the following segments: Commercial, Commercial Real Estate, Consumer, Residential, and Finance Leases. The Commercial lending segment is primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The Commercial Real Estate lending involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Consumer and Residential segments establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. The company was founded in September 1982 and is headquartered in Muncie, IN.