First Merchants Corporation (FRME)

First Merchants Stock Forecast

Stock Price Forecast

According to 4 professional analysts, the 12-month price target for First Merchants stock ranges from a low of $38 to a high of $49. The average analyst price target of $45.5 forecasts a 16.58% increase in the stock price over the next year.

Price Target: $45.50 (+16.58%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$38	$45.5	$49	$49
Change	-2.64%	+16.58%	+25.54%	+25.54%

Analyst Ratings

The average analyst rating for First Merchants stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Dec '24	Jan '25	Feb '25	Mar '25	Apr '25	May '25
Strong Buy	0	0	0	0	0	0
Buy	4	4	4	4	4	3
Hold	1	1	1	1	1	1
Sell	0	0	0	0	0	0
Strong Sell	0	0	0	0	0	0
Total	5	5	5	5	5	4

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Nathan Race Piper Sandler	Piper Sandler	Buy Maintains $55 → $49	Buy	Maintains	$55 → $49	+25.54%	Apr 28, 2025
Damon Delmonte Keefe, Bruyette & Woods	Keefe, Bruyette & Woods	Buy Maintains $52 → $49	Buy	Maintains	$52 → $49	+25.54%	Apr 25, 2025
Daniel Tamayo Raymond James	Raymond James	Buy Maintains $50 → $46	Buy	Maintains	$50 → $46	+17.86%	Apr 2, 2025
Damon Delmonte Keefe, Bruyette & Woods	Keefe, Bruyette & Woods	Buy Maintains $50 → $52	Buy	Maintains	$50 → $52	+33.23%	Jan 31, 2025
Daniel Tamayo Raymond James	Raymond James	Buy Reiterates $42 → $50	Buy	Reiterates	$42 → $50	+28.11%	Jan 31, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

703.51M

Increased by 15.14%

from 610.99M

Revenue Next Year

738.91M

Increased by 5.03%

from 703.51M

EPS This Year

3.95

Increased by 15.96%

from 3.41

EPS Next Year

4.18

Increased by 5.59%

from 3.95

Fiscal Year	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	433.38M	520.00M	611.39M	647.50M	610.99M	703.51M	738.91M
Revenue Growth	-1.63%	19.99%	17.57%	5.91%	-5.64%	15.14%	5.03%
EPS	2.74	3.81	3.81	3.73	3.41	3.95	4.18
EPS Growth	-14.11%	39.05%	-	-2.10%	-8.58%	15.96%	5.59%
Forward PE	-	-	-	-	-	9.87	9.35
No. Analysts	-	-	-	-	-	8	8

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2025	2026
High	727.3M	773.0M
Avg	703.5M	738.9M
Low	672.3M	702.7M

Revenue Growth

Revenue Growth	2025	2026
High	19.0%	9.9%
Avg	15.1%	5.0%
Low	10.0%	-0.1%

EPS Forecast

EPS	2025	2026
High	4.15	4.57
Avg	3.95	4.18
Low	3.75	3.88

EPS Growth

EPS Growth	2025	2026
High	21.6%	15.5%
Avg	16.0%	5.6%
Low	10.1%	-1.9%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.