What Did This CEO Just Do with Personal Shares of First Merchants (NASDAQ: FRME)?

Today, the CEO of First Merchants (FRMEResearch Report), Michael Rechin, sold shares of FRME for $254K.

In addition to Michael Rechin, 4 other FRME executives reported Sell trades in the last month.

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Based on First Merchants’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $124 million and quarterly net profit of $34.26 million. In comparison, last year the company earned revenue of $104 million and had a net profit of $38.82 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 50.14K.

Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $29.67, reflecting a -14.0% downside.

In the last 30 days, insiders have sold $343.2K worth of FRME shares and purchased $25.59K worth of FRME shares. The insider sentiment on First Merchants has been positive according to 57 insider trades in the past three months. This sentiment is higher than the average sentiment of company insiders in this sector.

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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.