BNY Mellon Corp Invests $18.97 Million in First Merchants Co.
November 21, 2023
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First Merchants ($NASDAQ:FRME) Corporation is a financial holding company based in Daleville, Indiana. The company provides banking services to individuals and businesses within the state of Indiana through its wholly-owned subsidiary, First Merchants Bank. Recently, BNY Mellon Corp has invested $18.97 million in the company’s stock. The investment marks a significant boost for First Merchants Co., as the funds will be used to expand the company’s operations and further its growth. With this injection of capital, First Merchants Co. will be able to continue developing innovative products and services for its customers.
Additionally, the company will also be able to explore opportunities for mergers and acquisitions and expand its market reach. It is expected that the injection of capital will allow First Merchants Co. to move into new markets and further expand its operations in existing markets. This could result in increased market share for the company and further growth potential.
Price History
On Tuesday, BNY Mellon Corp made an investment of $18.97 million in First Merchants Co. After the news broke, FIRST MERCHANTS stock opened at $29.6 and closed at $31.3, a rise of 7.8% from its previous closing price of $29.0. This marks one of the biggest investments for the company and is expected to further boost its growth prospects in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for First Merchants. More…
| Total Revenues | Net Income | Net Margin |
| – | 250.19 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for First Merchants. More…
| Operations | Investing | Financing |
| 268.05 | -446.44 | 133.84 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for First Merchants. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 18k | 15.9k | – |
Key Ratios Snapshot
Some of the financial key ratios for First Merchants are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.3% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
At GoodWhale, we have conducted an analysis of FIRST MERCHANTS‘s wellbeing. Our Star Chart indicates that FIRST MERCHANTS is strong in growth, asset, dividend, and medium in profitability. Additionally, FIRST MERCHANTS is classified as a ‘gorilla’, a company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. This makes FIRST MERCHANTS an attractive investment opportunity and could be of particular interest to investors that are looking for long-term growth. FIRST MERCHANTS has a high health score of 9/10 with regard to its cashflows and debt which indicates that it is financially capable of paying off debt and adequately funding future operations. More…
Peers
The company operates through two segments: Commercial Banking and Retail Banking. Commercial Banking offers loans for working capital, term financing, and equipment financing; and CRE, C&I, and other loans, as well as treasury management, foreign exchange, and interest rate risk management products and services to small and medium-sized businesses. Retail Banking provides deposit products, personal loans, home equity lines of credit, and other consumer loans; and originates and sells one- to four-family residential mortgage loans. First Merchants Corp was founded in 1885 and is headquartered in Muncie, Indiana. Dah Sing Financial Holdings Ltd is a bank holding company that operates through its subsidiaries, Dah Sing Bank Ltd and Dah Sing Insurance Company Ltd. It offers a range of banking and insurance products and services in Hong Kong, Mainland China, and Singapore. The company operates through three segments: Dah Sing Bank, Dah Sing Insurance, and Others. Dah Sing Bank provides personal banking products and services, including deposit-taking, loan and mortgage financing, credit card, foreign exchange, and money market services; and commercial banking products and services comprising deposit-taking, loan and mortgage financing, trade financing, cash management, foreign exchange, and money market services to small and medium-sized enterprises and corporate customers. Dah Sing Insurance offers a range of general insurance products comprising motor, householders’, personal accident, travel, commercial property, liability, marine cargo, construction all risk, credit card insurance, and motor fleet insurance products; and life assurance products consisting of whole life, term life, endowment, annuity, and group life products. The Others segment includes money lending activities. Dah Sing Financial Holdings Ltd was founded in 1946 and is based in Central, Hong Kong. Univest Financial Corp is a bank holding company that operates through its subsidiary, Univest Bank and Trust Co. It offers personal and business banking products and services in Pennsylvania and New Jersey, the United States. The company operates through three segments: Banking, Wealth Management, and Insurance. Banking segment offers checking accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, commercial loans, consumer loans, mortgage loans, and home equity loans and lines of credit. Wealth Management segment provides trust administration, personal trust administration, investment management, custody services, retirement planning services, retirement plan administration services, estate planning and settlement services, financial planning services, charitable gift planning services, and fiduciary income tax return preparation services. Insurance segment offers property and casualty insurance for business and personal lines; life insurance; long-term care insurance; disability income insurance; annuities; and other insurance products. Univest Financial Corp was founded in 1876 and is based in Souderton, Pennsylvania. Dah Sing Banking Group Ltd is a bank holding company that operates through its subsidiaries. It provides personal banking products and services in Hong Kong; and commercial banking products and services to small and medium-sized enterprises and corporate customers in Hong Kong and Mainland China. The company operates through two segments: Banking Operations in Hong Kong and Banking Operations Outside Hong Kong. It offers various deposit products; personal loans; home equity lines of credit; motor vehicle finance; credit cards; wealth management products; bancassurance products; safe deposit box services; foreign exchange services; money market services; and remittance services. The company also provides commercial banking products comprising deposit-taking products; corporate loans; trade financing; cash management; foreign exchange; money market services; and remittance services. Dah Sing Banking Group Ltd was founded in 1946 and is based in Central, Hong Kong.
– Dah Sing Financial Holdings Ltd ($SEHK:00440)
Dah Sing Financial Holdings Ltd has a market cap of 5.29B as of 2022. The company is a financial services provider in Hong Kong that offers a range of banking, insurance, and investment products and services. Dah Sing has a network of over 50 branches across Hong Kong and employs around 4,000 staff.
– Univest Financial Corp ($NASDAQ:UVSP)
Univest Financial Corporation is a bank holding company that offers banking, insurance, and investment products and services to individuals and businesses in Pennsylvania and New Jersey through its subsidiary banks and insurance companies. As of December 31, 2018, Univest Financial Corporation had assets of $3.6 billion, deposits of $2.9 billion, and loans of $2.5 billion.
– Dah Sing Banking Group Ltd ($SEHK:02356)
Dah Sing Banking Group Ltd is a Hong Kong-based banking group. It provides a range of banking and financial services including personal banking, corporate banking, treasury, and wealth management. As of December 31, 2020, the Group had a total of 97 branches in Hong Kong.
Summary
First Merchants Corporation is an Indiana-based financial services company that provides banking, trust, insurance, and investment services to businesses, institutions, and individuals. Recently, Bank of New York Mellon Corp reported a $18.97 million position in First Merchants Co. This news caused the stock price to move up the same day. Investors in First Merchants may find the company to be a sound investment due to their proven track record with delivering strong and consistent financial results, their ability to implement strategic initiatives, as well as the stability of their customer base.
Furthermore, First Merchants is well-positioned for future growth with its technology-driven solutions, innovative products, and strong customer relationships. With its continuing promise of reliable performance and attractive dividend rate, investors may find that First Merchants is an attractive option for long-term growth.
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