FRME
First Merchants CorporationFinancial Services · $2.6B market cap
Verdict
Share price
$40.15
close of Oct 3, 2026
Fair value
$85.49
Sticker Price
Payback Price
$34.20
buy price
FRME is Undervalued: at $40.15 it trades 53% below its fair value of $85.49. Its buy price (Payback Price) is $34.20, 15% below today's price. Business quality is mixed: 2 of 5 key numbers clear the 10% bar.
How we valued it
Justified P/B (Financials). A bank or insurer. These are best valued on their book value and how much they earn on it.
Business quality
2 of 5 clear the 10% bar. What are the Big Five?
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Since Jun 11, 2026: no open-market purchases, 3 sales worth $1.0M and 31 other filings (stock awards, tax withholding and similar). Why purchases matter
Sales
FLUHLER STEPHAN
Owns 10%+ · 2026-08-19
Sold
$176K
Myers Larry W
director · 2026-06-12
Sold
$420K
Myers Larry W
director · 2026-06-11
Sold
$415K
Other filings
FLUHLER STEPHAN
Owns 10%+ · 2026-08-03
Award
$218K
HARDWICK MARK K
Chief Executive Officer · 2026-08-03
Award
$916K
Harris Steven C
Owns 10%+ · 2026-08-03
Award
$131K
Kawiecki Michele
Owns 10%+ · 2026-08-03
Award
$567K
MARTIN JOHN
Owns 10%+ · 2026-08-03
Award
$349K
Show all 31 other filingsShow fewer
Peterson Joseph C
Chief Commercial Officer · 2026-08-03
Award
$349K
Scurlock Eva D.
Chief Risk Officer · 2026-08-03
Award
$31K
Stewart Michael J
President · 2026-08-03
Award
$698K
Scurlock Eva D.
Chief Risk Officer · 2026-08-03
Award
$175K
FLUHLER STEPHAN
Owns 10%+ · 2026-08-02
Tax withholding
$66K
HARDWICK MARK K
Chief Executive Officer · 2026-08-02
Tax withholding
$251K
Harris Steven C
Owns 10%+ · 2026-08-02
Tax withholding
$26K
Kawiecki Michele
Owns 10%+ · 2026-08-02
Tax withholding
$126K
MARTIN JOHN
Owns 10%+ · 2026-08-02
Tax withholding
$76K
Peterson Joseph C
Chief Commercial Officer · 2026-08-02
Tax withholding
$40K
Scurlock Eva D.
Chief Risk Officer · 2026-08-02
Tax withholding
$10K
Stewart Michael J
President · 2026-08-02
Tax withholding
$261K
Becher Michael R
director · 2026-06-30
Award
$24K
Fultz Paul G
director · 2026-06-30
Award
$23K
RECHIN MICHAEL C
director · 2026-06-30
Award
$24K
Myers Larry W
director · 2026-06-30
Award
$23K
Brooks Susan W
director · 2026-06-30
Award
$23K
FISHER MICHAEL J
director · 2026-06-30
Award
$22K
Halderman Howard
director · 2026-06-30
Award
$23K
KELLOGG CLARK C
director · 2026-06-30
Award
$23K
Chiang Mung
director · 2026-06-30
Award
$22K
WOJTOWICZ JEAN L
director · 2026-06-30
Award
$31K
Sondhi Jason R
director · 2026-06-30
Award
$23K
Johnson Kevin D
director · 2026-06-30
Award
$22K
FLUHLER STEPHAN
Owns 10%+ · 2026-06-23
Award
95.525 shares
HARDWICK MARK K
Chief Executive Officer · 2026-06-23
Award
30.782 shares
About First Merchants Corporation
First Merchants Corporation operates as a financial holding entity, primarily conducting its business through its subsidiary, First Merchants Bank. This institution delivers a full spectrum of community banking solutions. It accepts various types of deposits, including term, savings, and checking accounts. The company also extends a wide array of lending products, such as consumer, commercial, agricultural business…
Banks - Regional
Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works