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First Merchants Corp. (FRME)
NASDAQ:FRME
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.9Last Year’s EPS
$0.71Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 10.34%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with strong performance in earnings per share growth, net interest margin, and the completion of technology initiatives. However, challenges such as losses from securities sales, a decline in the investment real estate portfolio, and increased classified loans were noted. Overall, the company is well-positioned for future growth, but the lowlights present significant challenges that need addressing.Company Guidance
During the First Merchants Corporation Q3 2024 earnings call, the executives discussed several key financial metrics and strategic initiatives. The company reported total assets of $18.3 billion, total loans of $12.7 billion, and total deposits of $14.4 billion. Earnings per share (EPS) for the quarter were $0.84, or $0.95 when adjusted for a $9.1 million securities sale loss. A $20 to $25 million gain is anticipated from the sale of five Illinois branches, expected to close in December. The tangible common equity ratio improved to 8.76%, with a tangible book value per share increasing to $26.64. Adjusted net interest margin improved by 7 basis points from the previous quarter, contributing to a sub-55% efficiency ratio. The call also highlighted a 19% year-over-year increase in tangible book value per share and discussed the company's strategic focus on organic growth, technology investments, and potential well-priced inorganic growth opportunities.Earnings Per Share Growth
Earnings per share for the quarter totaled $0.84, or $0.95 per share after adjustments. Tangible book value per share increased by 19% over the last 12 months.
Increased Net Interest Margin
Adjusted net interest margin improved by 7 basis points from Q2 to Q3, contributing to a sub-55% efficiency ratio for the quarter.
Strong Loan Portfolio Performance
C&I portfolio grew at nearly 13% last quarter and over 4.5% year-to-date. Consumer portfolio grew more than 1.5%.
Deposit Growth and Cost Management
Total deposits grew at a 2.3% annualized rate. The total cost of deposits was relatively flat, increasing by just 3 basis points.
Completion of Major Technology Initiatives
Successfully completed four major technology initiatives, enhancing client experiences and tools for sales teams.
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FRME Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FRME Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $37.06 | $35.71 | -3.64% |
| Jul 25, 2024 | $38.93 | $39.73 | +2.05% |
| Apr 25, 2024 | $34.07 | $33.49 | -1.70% |
| Jan 25, 2024 | $34.58 | $33.57 | -2.92% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Merchants Corp. (FRME) report earnings?
First Merchants Corp. (FRME) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is First Merchants Corp. (FRME) earnings time?
First Merchants Corp. (FRME) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FRME EPS forecast?
FRME EPS forecast for the fiscal quarter 2024 (Q4) is $0.9.
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