Nama's AI scorecard currently rates First Merchants Buy (6.6 out of 10), a call computed from its profitability, cash generation, growth, valuation and balance sheet. It is a research reading, not investment advice.

What is FRME's P/E ratio?

First Merchants trades at a trailing price-to-earnings ratio of 10.6.

When does FRME report earnings?

First Merchants's next scheduled report is on Jan 25, 2027. Analysts expect EPS of $1.00.

What is the FRME price target?

The median analyst price target from 6 analysts is $46.00, with a range of $45.00 – $48.00.

Is FRME Shariah compliant?

Nama's AAOIFI-style screen reads First Merchants as Not Shariah Compliant. At least one of the three ratios or the industry test failed.

Does FRME pay a dividend?

Yes — First Merchants's dividend yield is 3.6%.

Nama Insights

First Merchants (FRME)

Financial Services · Banks Regional · NASDAQ

First Merchants (FRME) is a Financial Services company in the Banks Regional industry. It has a market capitalization of $2.56B and a trailing price-to-earnings ratio of 10.6. Over the most recent reported fiscal year, revenue grew 5.8%. Nama's AI scorecard rates it Buy, 6.6 out of 10. On 12-month momentum it ranks in the middle band of its market.

AI scorecard

Buy · 6.6/10

Positive, at the low end of Buy. As of Nov 7, 2026.

Momentum

Middle · +10.2% over 12 months ex. last

Middle fifth of its market on the past year's move.

Shariah screen

Not Shariah Compliant

At least one of the three ratios or the industry test failed.

Off its high

-11.5%

How far the last close sits under the highest price of the past five years.

Market cap	$2.56B
Trailing P/E	10.6
Price / book	0.9
Price / sales	3.8
FCF yield	—
Dividend yield	3.6%
Gross margin	0.0%
Operating margin	—
Net margin	29.2%
Revenue growth (YoY)	+5.8%
Revenue growth (3-yr annual)	+1.8%
EPS growth (YoY)	+11.8%
FCF/share growth (YoY)	—
Beta	0.9
Exchange	NASDAQ
Sector	Financial Services
Industry	Banks Regional

FRME earnings

Next report: Jan 25, 2027 (Q4 2026, EPS estimate $1.00). Beat the EPS estimate in 3 of 4 recent quarters.

Quarter	Reported	EPS	Estimate	Surprise	Revenue
Q3 2026	Oct 21, 2026	$1.10	$1.04	+5.8%	$199.07M
Q2 2026	Jul 22, 2026	$0.74	$1.03	-28.2%	—
Q1 2026	Apr 22, 2026	$1.03	$0.97	+6.2%	$157.13M
Q4 2025	Jan 26, 2026	$0.98	$0.95	+3.2%	$172.17M

FRME analyst price target

Median target $46.00 from 6 analysts, ranging $45.00 – $48.00.

Banks Regional peers

Ticker	Company	Market cap	P/E
HDB	HDFC Bank	$129.32B	15.9
IBN	ICICI Bank	$121.68B	21.2
MFG	Mizuho Financial Group	$113.48B	13.1
USB	U.S. Bancorp	$92.63B	11.6
PNC	PNC Financial Services Group	$89.43B	12.0
ITUB	Itaú Unibanco	$81.45B	8.6
LYG	Lloyds Banking Group	$72.69B	9.8
DB	Deutsche Bank Aktiengesellschaft	$64.60B	10.5

Explore live FRME data on Nama Insights →

FRME FAQ

Is FRME a buy?: Nama's AI scorecard currently rates First Merchants Buy (6.6 out of 10), a call computed from its profitability, cash generation, growth, valuation and balance sheet. It is a research reading, not investment advice.
What is FRME's P/E ratio?: First Merchants trades at a trailing price-to-earnings ratio of 10.6.
When does FRME report earnings?: First Merchants's next scheduled report is on Jan 25, 2027. Analysts expect EPS of $1.00.
What is the FRME price target?: The median analyst price target from 6 analysts is $46.00, with a range of $45.00 – $48.00.
Is FRME Shariah compliant?: Nama's AAOIFI-style screen reads First Merchants as Not Shariah Compliant. At least one of the three ratios or the industry test failed.
Does FRME pay a dividend?: Yes — First Merchants's dividend yield is 3.6%.