First Merchants Corporation (FRME) is Initiated by Piper Jaffray to Neutral

First Merchants Corporation (FRME) was Initiated by Piper Jaffray to “Neutral”. Piper Jaffray advised their investors in a research report released on Jul 11, 2016.

First Merchants Corporation opened for trading at $24.68 and hit $24.94 on the upside on Friday, eventually ending the session at $24.72, with a gain of 1.06% or 0.26 points. The heightened volatility saw the trading volume jump to 1,32,037 shares. Company has a market cap of $1,007 M.

In a different news, on Jul 5, 2016, Patrick A Sherman (director) purchased 21 shares at $24.39 per share price. According to the SEC, on Jul 5, 2016, Gary Lehman (director) purchased 68 shares at $24.39 per share price. On Jul 5, 2016, Michael J Stewart (Chief Banking Officer) purchased 43 shares at $21.13 per share price, according to the Form-4 filing with the securities and exchange commission.

First Merchants Corporation is a financial holding Company. The Company has one full-service bank charter First Merchants Bank National Association (the Bank) which opened for business in Muncie Indiana. The Bank also operates Lafayette Bank and Trust Commerce National Bank and First Merchants Trust Company as divisions of First Merchants Bank N.A. The Bank includes 106 banking locations in 26 Indiana two Illinois and two Ohio counties. The Company’s delivery channels include automated teller machines check cards remote deposit capture interactive voice response systems and internet technology. Through the Bank it offers financial services including accepting time deposits savings and demand deposits; making consumer commercial agri-business and real estate mortgage loans; renting safe deposit facilities; providing personal and corporate trust services; providing full-service brokerage and providing corporate services letters of credit and repurchase agreements.

First Merchants Corporation

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