FRME
First Merchants Corporation Financial Services - Banks - Regional Investor Relations →
First Merchants Corporation (FRME) closed at $42.34 as of 2026-02-02, trading 23.4% above its 200-week moving average of $34.31. The stock moved further from the line this week, up from 16.0% last week. With a 14-week RSI of 86, FRME is in overbought territory.
Over the past 1863 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 $2.7 billion, FRME is a mid-cap stock. Return on equity stands at 9.5%. The stock trades at 1.0x book value.
Share count has increased 8.5% over three years, indicating dilution.
Over the past 33.2 years, a hypothetical investment of $100 in FRME would have grown to $1020, compared to $2849 for the S&P 500. FRME has returned 7.3% annualized vs 10.6% for the index, underperforming the broader market over this period.
Free cash flow has been growing at a 7.3% compound annual rate, with 4 consecutive years of positive cash generation.
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% | +1939.8% |
| Jul 1990 | Feb 1991 | 30 | 16.8% | +13.9% | +1898.1% |
| Mar 1991 | May 1991 | 7 | 3.6% | +70.6% | +2039.4% |
| Mar 2000 | May 2000 | 10 | 12.8% | +10.2% | +386.0% |
| Jun 2000 | Aug 2000 | 8 | 2.9% | +11.6% | +387.1% |
| Jan 2001 | Jan 2001 | 1 | 4.7% | +25.5% | +378.7% |
| Feb 2001 | Feb 2001 | 2 | 0.6% | +12.7% | +355.5% |
| Mar 2001 | Mar 2001 | 1 | 0.2% | +21.6% | +351.0% |
| May 2001 | May 2001 | 1 | 0.6% | +33.3% | +348.6% |
| May 2001 | Jun 2001 | 2 | 0.6% | +38.3% | +345.9% |
| Jul 2001 | Jul 2001 | 1 | 0.5% | +30.8% | +344.1% |
| Jun 2006 | Jun 2006 | 1 | 3.3% | +13.3% | +217.0% |
| Jul 2006 | Jul 2006 | 2 | 1.6% | +10.2% | +211.4% |
| Aug 2006 | Aug 2006 | 1 | 1.0% | +5.1% | +208.5% |
| Feb 2007 | Mar 2007 | 1 | 1.7% | +21.4% | +199.3% |
| Apr 2007 | Apr 2007 | 1 | 2.7% | +18.7% | +200.7% |
| Jul 2007 | Jan 2008 | 27 | 21.5% | -11.7% | +207.2% |
| Jun 2008 | Sep 2008 | 14 | 22.2% | -55.9% | +203.6% |
| Sep 2008 | Feb 2012 | 176 | 69.1% | -64.5% | +230.0% |
| May 2019 | Jun 2019 | 1 | 3.7% | -13.8% | +59.1% |
| Aug 2019 | Aug 2019 | 1 | 0.6% | -26.7% | +50.7% |
| Feb 2020 | Dec 2020 | 41 | 38.1% | +24.4% | +49.2% |
| Jul 2022 | Jul 2022 | 1 | 1.2% | -13.2% | +37.0% |
| Mar 2023 | Dec 2023 | 38 | 30.3% | -1.3% | +36.0% |
| Jan 2024 | Apr 2024 | 13 | 4.7% | +36.9% | +35.3% |
| May 2024 | Jul 2024 | 7 | 9.9% | +16.2% | +35.6% |
| Apr 2025 | Apr 2025 | 1 | 2.3% | N/A | +27.6% |
| Average | 14 | — | +9.3% | — |
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 Friday close, 2026-02-02