First Merchants Corporation (FRME) Stock: Price, Forecast & Analyst Target
First Merchants Corporation (FRME) — MoonshotScore 75/100 (Strong band), calculated Oct 26, 2026. Price $41.09 (+1.01%), as of the Oct 26, 2026 trading session; market cap $2.58B.
Educational signal · not a buy or sell recommendation · How to read this
First Merchants Corporation · FRME · NASDAQ
First Merchants Corporation is a regional financial services provider headquartered in Muncie, Indiana, offering a wide range of community banking services. With a strong market presence across Indiana, Illinois, Ohio, and Michigan, the company focuses on consumer and commercial banking, wealth management, and trust services.
Price as of Oct 26, 2026
Key Statistics
MoonshotScore v2 · First Merchants (FRME)
StrongWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
High quality and durable growth, at a dirt-cheap price, but a strained balance sheet. Business Quality: Solid; Financial Safety: Strained; Valuation: Cheap; Growth Durability: Growing; Momentum: Quiet.
- quarterly revenue $302M (Q3 FY2026, quarter ended Sep 30, 2026)
- EPS beat 6 of 8
- Altman Z -0.49 · Piotroski F 6
Helping: business quality, an attractive price, durable growth
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 68 | Strong | |
| 68 | Strong | |
| 67 | Strong | |
| 70 | Strong | |
| 76 | Strong | |
| 75 | Strong |
The score moved from 76 in the stored Oct 24, 2026 snapshot to 75 in the current publication computed Oct 26, 2026 (-1); the largest pillar moves were Financial Safety +1 and Growth Durability -1.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value |
|---|---|
| Latest provided price | $41.09 |
| Change on the day | +1.01% |
| 52-week range | $34.66 – $45.33 |
| Market capitalisation | $2.58B |
| Price / earnings (trailing) | 12.56 |
| Shares traded on the day | 494.2K |
Price & events
Other perspectives
Council score for First Merchants (FRME): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
9-Factor Breakdown
Legends Council
6 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Sep 11, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On Sep 10, 2026, the Munger lens read the price at that time as undervalued against its own estimate of value.
Readings on this page are from Oct 27, 2026, except a card that shows its own read date.
Watch the FRME film — every key number, told as a short cinematic story
~2 min · open the film
What is First Merchants (FRME), and what does it report?
Short answer · as of
A current FMP business description is unavailable; the listing and provider classification below are the available identity facts. First Merchants Corporation (FRME) is listed on NASDAQ. It employs 2,086 people and is led by Mark K. Hardwick. In Q3 FY2026 it reported revenue of $302M and net income of $68M. The market values it at $2.58B.
What do the latest results show for First Merchants (FRME)?
Short answer · as of
The most recent reported quarter, Q3 FY2026, carried revenue of $302M. Against analyst estimates the company has EPS beat 6 of 8 reports.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q3 FY2026 | $302M | $68M | $1.09 (diluted) |
| Q2 FY2026 | $298M | $44M | $0.70 (diluted) |
| Q1 FY2026 | $253M | $28M | $0.46 (diluted) |
| Q4 FY2025 | $270M | $57M | $0.99 (diluted) |
What are the financial strengths and risks for First Merchants (FRME)?
Short answer
The MoonshotScore pillars rate business quality, an attractive price, durable growth as strengths. The distress and quality screens read Altman Z -0.49 · Piotroski F 6. Trailing ratios: ROE 7.3% · ROA 0.9% · current ratio 0.24 · earnings yield 7.2% · free-cash-flow yield 12.1%.
What should you watch next at First Merchants (FRME)?
Short answer · as of
Current published price targets run low $46.00 · high $46.00 · consensus $46.00 · median $46.00 against a quoted price of $41.09 (as of Oct 26, 2026).
What the records here don't tell us
- No forward revenue or earnings estimate is on file.
- The next earnings date is not yet scheduled in the calendar we read.
- No insider Form 4 transaction falls inside the window this page reads.
Checked against the records this page reads, on the dates shown above.
How does First Merchants compare with its peers?
Short answer
First Merchants's score ranks 13th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
| Company | Price | Market value | Score |
|---|---|---|---|
| $87.86 Oct 26, 2026 | $2.12B | 97 5-pillar Oct 26, 2026 | |
| $42.93 Oct 26, 2026 | $1.90B | 95 5-pillar Oct 26, 2026 | |
| $51.11 Oct 26, 2026 | $1.92B | 94 5-pillar Oct 26, 2026 | |
| $53.13 Oct 26, 2026 | $2.77B | 93 5-pillar Oct 26, 2026 | |
| $39.06 Oct 26, 2026 | $3.75B | 93 5-pillar Oct 26, 2026 | |
| $51.51 Oct 26, 2026 | $2.18B | 92 5-pillar Oct 26, 2026 | |
| $46.22 Oct 26, 2026 | $2.69B | 91 5-pillar Oct 26, 2026 | |
| $142.81 Oct 26, 2026 | $2.03B | 91 5-pillar Oct 26, 2026 | |
| $32.67 Oct 26, 2026 | $3.43B | 90 5-pillar Oct 26, 2026 | |
| $38.40 Oct 26, 2026 | $1.74B | 89 5-pillar Oct 26, 2026 | |
| $129.03 Oct 26, 2026 | $7.84B | 83 5-pillar Oct 26, 2026 | |
| $18.33 Oct 26, 2026 | $6.42B | 78 5-pillar Oct 26, 2026 | |
| First Merchants (FRME) — this page | $41.09 | $2.58B | 75 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $46.00 – $46.00
- Consensus target
- $46.00
- Median target
- $46.00
Consensus record · Captured .
Measured against a quoted price of $41.09 (as of Oct 26, 2026).
Investor Questions: FRME Stock
These answers are editorial: 1 of these 9 answers is drawn from the FRME research dossier (written May 10, 2026 by gpt-4o-mini); the other 8 are question templates that restate figures shown above. Figures in this section are not part of the source register.
What does the MoonshotScore mean for FRME?
FRME carries the MoonshotScore stated above — the Strong band. This is an educational research signal, not a buy or sell recommendation. The number comes from the five-pillar engine (business quality, financial safety, valuation, growth durability, momentum), re-ranked daily against sector peers.
Is FRME a good stock to buy?
Stock Expert AI does not rate FRME buy, sell or hold. First Merchants Corporation carries a MoonshotScore, in the Strong band, a research rating against its peers rather than a forecast. Whether it fits is your call: check what it sells, whether it earns and what the price assumes. This is educational content, not investment advice.
What is the FRME stock price today?
The last price recorded on this page for First Merchants Corporation (FRME) is $41.09, as of the Oct 26, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the FRME price target?
The analyst consensus price target for First Merchants Corporation (FRME) is $46.00 (range $46.00 to $46.00, median $46.00), per FMP data captured Oct 26, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
What are the main risks for FRME?
First Merchants Corporation faces several risks, including potential regulatory changes that could increase compliance costs and operational challenges. Additionally, ongoing economic conditions may negatively impact loan demand and credit quality, while cybersecurity threats pose risks to customer data and trust. The competitive landscape also presents challenges from larger banks and fintech companies.
What are the key factors to evaluate for FRME?
First Merchants Corporation (FRME) holds a MoonshotScore in the high range. P/E: 12.56x. Analysts target $46.00 (+12%). Digital banking enhancements: With the growing trend towards online banking, First Merchants plans to invest in enhancing its digital platforms. Not financial advice.
How frequently does FRME data refresh on this page?
FRME's price is the last quote we recorded, from the Oct 26, 2026 trading session. Pages are served from a cache, so the copy you are reading can lag that quote. The quote is a provider snapshot, not an exchange feed. Fundamentals follow quarterly filings. V2 is recalculated from the most recent completed US trading session; the score's own date shows its last successful run.
What has driven FRME's recent stock price performance?
First Merchants Corporation (FRME) moves on earnings results, analyst revisions, sector rotation, and market sentiment. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider FRME overvalued or undervalued right now?
First Merchants Corporation (FRME) trades at 12.56x earnings. Analysts target $46.00 (+12%) — upside seen. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Machine-generated analysis by Stock Expert AI — model gpt-4o-mini, generated May 10, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (21 figures)
The 21 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
FMP — 13 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
px.last | Latest provided price | $41.09 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-26T21:54:33.347Z. | |
px.change | Change on the day | +1.01% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $2.58B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-26. FMP quote timestamp: 2026-10-26T20:00:01.000Z. Captured from FMP at 2026-10-26T21:54:32.151Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | +$0.41 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q3 FY2026 | $302M | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.pe | Price / earnings (trailing) | 12.56 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 494.2K | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_income | Net income, Q3 FY2026 | $68M | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
fin.q_table | Quarterly income statement | 4 quarters through Q3 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
earn.pt | Stored analyst price targets | low $46.00 · high $46.00 · consensus $46.00 · median $46.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 26, 2026 · Coverage not supplied | |
earn.pt_range | Analyst price target, low to high | $46.00 – $46.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 26, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $46.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 26, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $46.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 26, 2026 · Coverage not supplied |
UNRECORDED — 6 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.history | Reported versus estimated, recent quarters | EPS beat 6 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-10-26 | |
fin.scores | Distress and quality screens | Altman Z -0.49 · Piotroski F 6 | UNRECORDED | Stored financial-scores observation — Captured 2026-10-25 · Expired observation | |
px.range52 | 52-week range | $34.66 – $45.33 | UNRECORDED | Stored company-profile observation — Captured 2026-10-26 | |
id.employees | Employees | 2,086 | UNRECORDED | Stored company-profile observation — Captured 2026-10-26 | |
id.ceo | Chief executive | Mark K. Hardwick | UNRECORDED | Stored company-profile observation — Captured 2026-10-26 | |
fin.ratios | Return and yield ratios (trailing twelve months) | ROE 7.3% · ROA 0.9% · current ratio 0.24 · earnings yield 7.2% · free-cash-flow yield 12.1% | — | UNRECORDED | Stored key metrics — Date unknown |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 75 of 100 · Strong · pillars 71 / 35 / 95 / 73 / 42 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 76 (stored snapshot Oct 24, 2026) → 75 (current publication computed Oct 26, 2026) (-1) | OURS | Stock Expert AI current score publication and immutable score snapshots |
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