First Merchants Corp reports results for the quarter ended in June - Earnings Summary

First Merchants

25/07/2023 14:32

* First Merchants Corp  FRME.OQ  reported quarterly adjusted
earnings of $1.02​​ per share for the quarter ended in June. The
mean expectation of six analysts for the quarter was
for earnings of $1.02 per share.
    * Revenue rose 4.6% to $164.15 million from a year ago;
analysts
expected $172.96 million. 
    * First Merchants Corp's reported EPS for the quarter was
$1.02​.
    * The mean earnings estimate of analysts had fallen by
about 6.7%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates 
    * First Merchants Corp shares had risen by 14.8% this
quarter and
lost 21.2% so far this year.
    * The company reported quarterly net income of $60.39
million.
    * Wall Street's median 12-month price target for First
Merchants
Corp is $37.00 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data July
25 at 01:32 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2023      1.02           1.02           Met
 Mar. 31 2023      1.14           1.07           Missed
 Dec. 31 2022      1.16           1.19           Beat
 Sep. 30 2022      1.09           1.08           Missed