First Merchants CorporationFRMENASDAQ
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Analyst Sentiment

Analysts lean bullish — 82% recommend buying.

Consensus Rating
Buy
11 analysts·Moderate coverage
82%
Rating Distribution
Strong Buy
00%
Buy
982%
Hold
218%
Sell
00%
Strong Sell
00%

Analyst ratings reflect Wall Street opinion, not guarantees. Historical accuracy varies by firm and sector.

Price Target Expectations

Analysts see moderate upside — consensus target 21% higher.

Bear Case
$46.00
+21%
Consensus
$46.00
+21%
Bull Case
$46.00
+21%
Price Range11 analysts
Low
Consensus
High
$46.00
$46.00
Current Target
Current Price
$38.08
Upside to Target
$7.92

Price targets are 12-month forecasts. Actual results depend on earnings, market conditions, and sector trends.

Earnings & Revenue Estimates

Earnings Surprises

Beat rate:58%(7/12 quarters)
Avg surprise:+0.1%
Beat
Miss
Inline
Estimate
Based on reported EPS vs consensus estimate.

Recent Analyst Actions

Oct 27, 2025Piper Sandler
First Merchants price target lowered to $46 from $48 at Piper Sandler
Target:$46.00
+23.4%from $37.27
Oct 28, 2024Piper Sandler
First Merchants (FRME) PT Lowered to $47 at Piper Sandler
Target:$47.00
+26.4%from $37.17
Jul 29, 2024Piper Sandler
First Merchants (FRME) PT Raised to $50 at Piper Sandler
Target:$50.00
+22.6%from $40.78
Jul 26, 2024Stephens
First Merchants (FRME) PT Raised to $45 at Stephens
Target:$45.00
+7.9%from $41.69
Apr 29, 2024Piper Sandler
First Merchants (FRME) PT Raised to $42.50 at Piper Sandler
Target:$42.50
+23.1%from $34.52