FRME
First Merchants Corporation Financial Services - Banks - Regional Investor Relations →
First Merchants Corporation (FRME) closed at $36.56 as of 2026-03-20, trading 7.1% above its 200-week moving average of $34.12. The stock moved further from the line this week, up from 6.8% last week. The 14-week RSI sits at 42, indicating neutral momentum.
Trading volume is running at 1.9x of its 14-week average, which is in the normal range. The balance between buying and selling volume (1.23 ratio) is neutral — neither side is clearly dominating.
Over the past 1869 weeks of data, FRME has crossed below its 200-week moving average 27 times. On average, these episodes lasted 14 weeks. Historically, investors who bought FRME at the start of these episodes saw an average one-year return of +9.3%.
With a market cap of $2.3 billion, FRME is a mid-cap stock. Return on equity stands at 9.5%. The stock trades at 0.8x book value.
Over the past 33.2 years, a hypothetical investment of $100 in FRME would have grown to $889, compared to $2683 for the S&P 500. FRME has returned 6.8% annualized vs 10.4% for the index, underperforming the broader market over this period.
Free cash flow has been volatile over the past several years, making the quality of earnings harder to assess.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: FRME vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After FRME Crosses Below the Line?
Across 25 historical episodes, buying FRME when it crossed below its 200-week moving average produced an average return of +4.9% after 12 months (median +13.0%), compared to +1.4% for the S&P 500 over the same periods. 70% of those episodes were profitable after one year. After 24 months, the average return was +5.0% vs -1.0% for the index.
Each line shows $100 invested at the moment FRME crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
FRME has crossed below its 200-week MA 27 times with an average 1-year return of +9.3% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Jul 1990 | Jul 1990 | 1 | 2.8% | +14.0% | +1677.9% |
| Jul 1990 | Feb 1991 | 30 | 16.8% | +13.9% | +1641.6% |
| Mar 1991 | May 1991 | 7 | 3.6% | +70.6% | +1764.7% |
| Mar 2000 | May 2000 | 10 | 12.8% | +10.2% | +323.6% |
| Jun 2000 | Aug 2000 | 8 | 2.9% | +11.6% | +324.5% |
| Jan 2001 | Jan 2001 | 1 | 4.7% | +25.5% | +317.2% |
| Feb 2001 | Feb 2001 | 2 | 0.6% | +12.7% | +297.1% |
| Mar 2001 | Mar 2001 | 1 | 0.2% | +21.6% | +293.1% |
| May 2001 | May 2001 | 1 | 0.6% | +33.3% | +291.0% |
| May 2001 | Jun 2001 | 2 | 0.6% | +38.3% | +288.7% |
| Jul 2001 | Jul 2001 | 1 | 0.5% | +30.8% | +287.1% |
| Jun 2006 | Jun 2006 | 1 | 3.3% | +13.3% | +176.3% |
| Jul 2006 | Jul 2006 | 2 | 1.6% | +10.2% | +171.4% |
| Aug 2006 | Aug 2006 | 1 | 1.0% | +5.1% | +168.9% |
| Feb 2007 | Mar 2007 | 1 | 1.7% | +21.4% | +160.9% |
| Apr 2007 | Apr 2007 | 1 | 2.7% | +18.7% | +162.1% |
| Jul 2007 | Jan 2008 | 27 | 21.5% | -11.7% | +167.8% |
| Jun 2008 | Sep 2008 | 14 | 22.2% | -55.9% | +164.6% |
| Sep 2008 | Feb 2012 | 176 | 69.1% | -64.5% | +187.6% |
| May 2019 | Jun 2019 | 1 | 3.7% | -13.8% | +38.7% |
| Aug 2019 | Aug 2019 | 1 | 0.6% | -26.7% | +31.4% |
| Feb 2020 | Dec 2020 | 41 | 38.1% | +24.4% | +30.0% |
| Jul 2022 | Jul 2022 | 1 | 1.2% | -13.2% | +19.4% |
| Mar 2023 | Dec 2023 | 38 | 30.3% | -1.3% | +18.5% |
| Jan 2024 | Apr 2024 | 13 | 4.7% | +36.9% | +17.9% |
| May 2024 | Jul 2024 | 7 | 9.9% | +16.2% | +18.2% |
| Apr 2025 | Apr 2025 | 1 | 2.3% | N/A | +11.2% |
| Average | 14 | — | +9.3% | — |
Frequently Asked Questions
Is FRME below its 200-week moving average?
No. First Merchants Corporation (FRME) is currently 7.1% above its 200-week moving average of $34.12. It would need to fall to $34.12 to cross below the line.
What is FRME's 200-week moving average price?
First Merchants Corporation's 200-week moving average is $34.12 as of 2026-03-20. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when FRME drops below its 200-week moving average?
FRME has crossed below its 200-week moving average 27 times in our data. On average, buying at that moment produced a one-year return of +9.3%. These dips have historically been decent entry points. These episodes lasted 14 weeks on average.
Is FRME a good value right now?
Here's what our data says about FRME as of 2026-03-20: The stock is above its 200-week moving average, so it doesn't currently meet our primary signal. The 14-week RSI is 42. Return on equity is 9.5%. Price-to-book is 0.8x. This is not a buy or sell recommendation — always do your own research.
How does FRME compare to the S&P 500?
Over the past 33.2 years, $100 invested in FRME would have grown to $889, compared to $2683 for the S&P 500. That's 6.8% annualized vs 10.4% for the index. FRME has underperformed the broader market over this period.
Does FRME pay a dividend?
Yes. First Merchants Corporation currently pays a dividend yield of 394.00%.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-03-20