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First Merchants (FRME) Stock Forecast, Price Target & Predictions

OverviewRevenueOwnershipFinancialsChartTranscripts

FRME Stock Forecast

First Merchants (FRME) stock forecast, based on 11 Wall Street analysts, predicts a 12-month average price target of $49.00, with a high of $49.00 and a low of $49.00. This represents a 34.06% increase from the last price of $36.55.

$30 $34 $38 $42 $46 $50 High: $49 Avg: $49 Low: $49 Last Closed Price: $36.55

FRME Stock Rating

First Merchants stock's rating consensus is Buy, based on 11 Wall Street analysts. The breakdown includes 0 Strong Buy (0.00%), 9 Buy (81.82%), 2 Hold (18.18%), 0 Sell (0.00%), and 0 Strong Sell (0.00%).

Buy
Total 11 0 2 9 Strong Sell Sell Hold Buy Strong Buy

FRME Price Target Upside V Benchmarks

TypeNameUpside
StockFirst Merchants34.06%
SectorFinancial Services Stocks 14.67%
IndustryRegional Banks Stocks7.50%

Price Target Trends

1M3M12M
# Anlaysts-12
Avg Price Target-$49.00$47.50
Last Closing Price$36.55$36.55$36.55
Upside/Downside-34.06%29.96%
Ratings Trends
DateStrong BuyBuyHoldSellStrong SellTotal
Mar, 26222--6
Feb, 26212--5
Jan, 26222--6
Dec, 25222--6
Nov, 25222--6
Analyst Price Target Forecasts
DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Feb 04, 2026Nathan RacePiper Sandler$49.00$40.8120.07%34.06%
Oct 27, 2025Piper Sandler$46.00$37.2723.42%25.85%
Oct 28, 2024Nathan RacePiper Sandler$47.00$37.1826.41%28.59%
Jul 29, 2024Nathan RacePiper Sandler$50.00$40.7822.61%36.80%
Jul 26, 2024Terry McEvoyStephens$45.00$41.697.94%23.12%
Apr 29, 2024Nathan RacePiper Sandler$42.50$34.5223.12%16.28%
Analyst Rating Forecasts
DateCompanyPrevious RatingNew RatingRating Change
Feb 04, 2026Piper SandlerOverweightOverweighthold
Sep 26, 2025Raymond JamesOutperformMarket Performdowngrade
Oct 28, 2024Piper SandlerOverweightOverweighthold
Aug 28, 2024StephensOutperformOutperformhold
Aug 07, 2024StephensOverweightEqual-Weightdowngrade
Jul 29, 2024Keefe, Bruyette & WoodsOutperformOutperformhold
Jul 29, 2024Piper SandlerOverweightOverweighthold
Jul 26, 2024StephensOverweightOverweighthold
Apr 29, 2024Piper SandlerOverweightOverweighthold
Apr 26, 2023Raymond JamesOutperformOutperformhold

Financial Forecast

EPS Forecast

Dec 21 Dec 22 Dec 23 Dec 24 Dec 25 Dec 26
Dec 21Dec 22Dec 23Dec 24Dec 25Dec 26
Reported$3.82$3.83$3.74$3.42$3.90-
Avg Forecast$3.85$3.79$3.88$3.24$3.56$3.74
High Forecast$3.87$3.81$3.89$3.26$3.61$4.00
Low Forecast$3.81$3.75$3.87$3.22$3.51$3.53
Surprise %-0.78%1.06%-3.61%5.56%9.55%-

Revenue Forecast

$500M $620M $740M $860M $980M $1B Dec 21 Dec 22 Dec 23 Dec 24 Dec 25 Dec 26
Dec 21Dec 22Dec 23Dec 24Dec 25Dec 26
Reported$555.96M$712.95M$999.49M$1.05B$1.05B-
Avg Forecast$540.38M$651.15M$680.29M$661.66M$677.91M$705.70M
High Forecast$542.76M$654.12M$680.76M$662.74M$679.26M$708.56M
Low Forecast$536.34M$646.31M$679.83M$660.57M$676.56M$702.57M
Surprise %2.88%9.49%46.92%59.24%54.92%-

Net Income Forecast

$150M $180M $210M $240M $270M $300M Dec 21 Dec 22 Dec 23 Dec 24 Dec 25 Dec 26
Dec 21Dec 22Dec 23Dec 24Dec 25Dec 26
Reported$205.53M$222.09M$223.79M$201.40M$226.00M-
Avg Forecast$189.06M$211.17M$221.91M$192.74M$211.68M$214.37M
High Forecast$226.87M$253.41M$266.29M$193.88M$214.66M$237.95M
Low Forecast$151.25M$168.94M$177.53M$191.60M$208.70M$209.99M
Surprise %8.71%5.17%0.84%4.49%6.77%-

FRME Forecast FAQ

Is First Merchants stock a buy?

First Merchants stock has a consensus rating of Buy, based on 11 Wall Street analysts. The rating breakdown includes 0 Strong Buy, 9 Buy, 2 Hold, 0 Sell, and 0 Strong Sell, reflecting a consensus that First Merchants is a favorable investment for most analysts.

What is First Merchants's price target?

First Merchants's price target, set by 11 Wall Street analysts, averages $49 over the next 12 months. The price target range spans from $49 at the low end to $49 at the high end, suggesting a potential 34.06% change from the previous closing price of $36.55.

How does First Merchants stock forecast compare to its benchmarks?

First Merchants's stock forecast shows a 34.06% upside, outperforming the average forecast for the financial services stocks sector (14.67%) and outperforming the regional banks stocks industry (7.50%).

What is the breakdown of analyst ratings for First Merchants over the past three months?

  • March 2026: 33.33% Strong Buy, 33.33% Buy, 33.33% Hold, 0% Sell, 0% Strong Sell.
  • February 2026: 40.00% Strong Buy, 20.00% Buy, 40.00% Hold, 0% Sell, 0% Strong Sell.
  • January 2026: 33.33% Strong Buy, 33.33% Buy, 33.33% Hold, 0% Sell, 0% Strong Sell.

What is First Merchants’s EPS forecast?

First Merchants's average annual EPS forecast for its fiscal year ending in December 2026 is $3.74, marking a -4.10% decrease from the reported $3.9 in 2025..

What is First Merchants’s revenue forecast?

First Merchants's average annual revenue forecast for its fiscal year ending in December 2026 is $705.7M, reflecting a -32.80% decrease from the reported $1.05B in 2025.

What is First Merchants’s net income forecast?

First Merchants's net income forecast for the fiscal year ending in December 2026 stands at $214.37M, representing a -5.15% decrease from the reported $226M in 2025.