Insiders Trades
First Merchants Corp Stock: price and insider trades · United States
No insider purchase over the last 90 days. The latest was filed 27 Feb 2025.
First Merchants Corp: what insiders have been doing
This page follows insider dealings at First Merchants Corp as filed with SEC (Form 4), a company from the Finance & Banking sector based in East Central Indiana, United States. The group dates from 1982. In the past year (18 October 2025 to 18 October 2026), 66 filings came from 23 insiders.
The flow runs one way only: 5 sales worth €766k, from 3 insiders, and no purchase. At €176k, the sale published on 26 February 2026 by Myers Larry W is the largest of the period.
Between a trade and the moment it shows up on SEC (Form 4), the median delay is 2 days. The legal deadline for a Form 4 is two business days after the transaction. Sales are harder to read than purchases, since they often meet personal needs such as tax or diversification.
Compared with its exchange (5,458 companies, median 22 filings), a count of 66 filings is above the norm. Since 2016, the database holds 22 purchases and 16 sales by insiders of the company. The 10-K for the year ended 31 December 2025 shows 226.0 m USD of net income and a dividend of 1.43 USD per share.
Other companies in the same sector with recent insider buying flagged by our signals: First Guaranty Bancshares, Inc. and BCB Bancorp Inc. Every figure here comes from the filings published by SEC (Form 4) and describes the past, not future prices; it is not investment advice.
Insider Decl.
447
Thresholds
n/a
Buy Volume
€85,151
22 ops. · all time
Sell Volume
€4M
16 ops. · all time
Who traded when
BuySaleStephan Fluhler3 sales
Eva D. Scurlock1 sale
Fehring Patrick J.1 sale
Howard Halderman1 buy
Larry W. Myers1 sale
Michael J. Stewart1 sale
Since the insiders bought
- -10.2%Entry US$43.80 · Close at T+365 US$39.35
- +9.2%Entry US$33.45 · Close at T+365 US$36.53
- +31.9%Entry US$33.20 · Close at T+365 US$43.80
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analyst consensus: bullish or bearish?
Analysts rate First Merchants Corp Buy (bullish), based on 6 analysts. Average price target: US$46.50.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 1,207 of 24,148 companies
78.8
score / 100
Value84
Quality73
FCF yld11%
Earn yld9.1%
EV/EBITDA·
ROE7.4%
Gross mgn·
Net mgn34%
Debt/EBITDA·
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$39.60
Analyst consensus
6 analystsBuy
US$45.00Target US$46.50(+17%)US$48.00
Income statement
RevenueUS$662.9M
Net incomeUS$226M29.0% margin
Valuation
PER (trailing)12.7x
PER (forward)8.9x
P/Book0.9x
Beta0.88
Balance sheet & cash
Market capUS$2.5B
Total debtUS$856.2M
Free Cash FlowUS$283.6M
Profitability & ownership
ROE7.4%
ROA0.9%
% insiders2.1%
% institutions75.5%
Last declaration on 2 October 2026
Declarations447 total
589 shares@ US$39.780.0009% mcap5.6% of flowCommon StockSEC:0001593260-26-000012:0
569 shares@ US$39.780.0009% mcap5.6% of flowCommonSEC:0001846180-26-000011:0
785 shares@ US$39.780.0012% mcap5.2% of flowCommon StockSEC:0001180886-26-000011:0
589 shares@ US$39.780.0009% mcap6.0% of flowCommonSEC:0001937256-26-000015:0
608 shares@ US$39.780.0010% mcap1.2% of flowCommon StockSEC:0001344155-26-000010:0
569 shares@ US$39.780.0009% mcap10.2% of flowCommon StockSEC:0001442094-26-000027:0
569 shares@ US$39.780.0009% mcap6.9% of flowCommon StockSEC:0001785329-26-000017:0
549 shares@ US$39.780.0009% mcap6.2% of flowCommonSEC:0001937796-26-000011:0
569 shares@ US$39.780.0009% mcap100.0% of flowCommon StockSEC:0002136574-26-000006:0
549 shares@ US$39.780.0009% mcap4.9% of flowCommon StockSEC:0001698638-26-000010:0
608 shares@ US$39.780.0010% mcap4.5% of flowCommon StockSEC:0001552134-26-000009:0
4,080 shares@ US$43.207.9% of flowCommon StockSEC:0001608347-26-000018:0
4,080 shares@ US$43.20100.0% of flowCommon StockSEC144:0001608347-26-000016
4,000 shares@ US$43.6337.2% of flowCommon StockSEC:0001736594-26-000021:1
8,000 shares@ US$43.6316.5% of flowCommon StockSEC:0001466848-26-000005:1
21,000 shares@ US$43.6316.6% of flowCommon StockSEC:0001170817-26-000007:1
6,059 shares@ US$43.146.1% of flowCommon StockSEC:0001425324-26-000003:0
1,532 shares@ US$43.143.0% of flowCommon StockSEC:0001608347-26-000013:0
5,000 shares@ US$43.639.9% of flowCommon StockSEC:0001608347-26-000013:1
2,910 shares@ US$43.145.2% of flowCommon StockSEC:0001635669-26-000005:0
3,000 shares@ US$43.6322.9% of flowCommonSEC:0001724873-26-000005:1
224 shares@ US$43.142.1% of flowCommon StockSEC:0001736594-26-000019:0
700 shares@ US$43.636.5% of flowCommon StockSEC:0001736594-26-000019:1
919 shares@ US$43.148.2% of flowCommon StockSEC:0002056794-26-000006:0
8,000 shares@ US$43.6371.9% of flowCommon StockSEC:0002056794-26-000006:1
25 of 447 declarations
About First Merchants Corp
First Merchants Corp. (NASDAQ: FRME) is a U.S. financial holding company centered on First Merchants Bank and First Merchants Private Wealth Advisors. Headquartered in Muncie, Indiana, United States, it is rooted in the long tradition of Midwestern community banking. The company describes itself as the largest financial holding company based in Central Indiana and one of Indiana’s leading bank-holding franchises. Its operating heritage dates back to 1893, when The Merchants National Bank of Muncie was founded during the Panic of 1893; the holding company First Merchants Corporation was organized in September 1982. That combination of a very long banking lineage and a more modern holding-company structure has supported a strategy of steady expansion, both organically and through acquisitions.
First Merchants’ core business is commercial and consumer banking, complemented by wealth management and private banking services. The franchise serves retail customers, small businesses, middle-market companies, and selected specialized lending segments. Recent company communications highlight commercial banking, consumer banking, wealth management, private wealth, and targeted initiatives for nonprofit and small-business clients. This diversified mix helps stabilize fee income and reinforces the relationship-based nature of the franchise.
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Geographically, the group is concentrated in the Midwest, with operations across Indiana, Illinois, Michigan, and Ohio. Its network includes banking centers and regional hubs in markets such as Indianapolis, Fort Wayne, Lafayette, Munster, Columbus, and the greater Detroit area in Michigan. This footprint gives First Merchants access to a broad set of local economies while keeping the company focused on community-oriented banking rather than national-scale competition.
Its competitive position rests on three pillars: a long-established community brand, a disciplined credit culture, and a demonstrated ability to integrate acquisitions. The most important recent development was the completion of the merger with First Savings Financial Group, announced in September 2025 and legally closed on February 1, 2026. The transaction added approximately $2.4 billion in assets and expanded the company’s reach into southern Indiana and the Louisville metro area; management also said systems integration should be completed in the second quarter of 2026. In addition, 2025 results showed resilient execution, including record full-year net income and a strong CET1 ratio, underscoring the balance-sheet strength of the franchise. For investors, FRME represents a seasoned regional U.S. bank on the NASDAQ market in the United States, with a stable Midwestern deposit base, diversified banking lines, and a clear acquisition-led growth strategy.
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