First Merchants Corp.’s recently made public that its Director Fehring Patrick J. unloaded Company’s shares for reported $0.78 million on May 30 ’24. In the deal valued at $32.51 per share,23,936 shares were sold. As a result of this transaction, Fehring Patrick J. now holds 122,706 shares worth roughly $4.11 million.
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Then, Stewart Michael J bought 36 shares, generating $1,068 in total proceeds. Upon buying the shares at $29.67, the President now owns 88,952 shares.
Before that, FLUHLER STEPHAN sold 3,193 shares. First Merchants Corp. shares valued at $105,912 were divested by the Chief Information Officer at a price of $33.17 per share. As a result of the transaction, FLUHLER STEPHAN now holds 24,070 shares, worth roughly $0.81 million.
Raymond James downgraded its First Merchants Corp. [FRME] rating to an Outperform from a a Strong buy in a research note published recently. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in early July from “an Outperform” to “a Strong buy”. Hovde Group also remained covering FRME and has increased its forecast on December 13, 2021 with a “an Outperform” recommendation from previously “Market perform” rating. Janney revised its rating on July 29, 2021. It rated FRME as “a Buy” which previously was an “a Neutral”.
Price Performance Review of FRME
On Tuesday, First Merchants Corp. [NASDAQ:FRME] saw its stock jump 2.07% to $33.48. Over the last five days, the stock has gained 6.45%. First Merchants Corp. shares have fallen nearly -9.71% since the year began. Nevertheless, the stocks have risen 18.60% over the past one year. While a 52-week high of $38.16 was reached on 01/02/24, a 52-week low of $25.70 was recorded on 06/11/24. SMA at 50 days reached $33.42, while 200 days put it at $32.62. A total of 0.21 million shares were traded, compared to the trading of 0.78 million shares in the previous session.
Levels Of Support And Resistance For FRME Stock
The 24-hour chart illustrates a support level at 33.06, which if violated will result in even more drops to 32.64. On the upside, there is a resistance level at 33.70. A further resistance level may holdings at 33.92. The Relative Strength Index (RSI) on the 14-day chart is 57.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.18, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.90%. Stochastics%K at 88.35% indicates the stock is a selling.
