Stock Performance Overview
Latest Quarterly Results
For the fourth quarter of 2025, First Merchants reported net income available to common stockholders of 56.6 million, resulting in diluted earnings per common share of 0.99. This figure surpassed the Zacks Consensus Estimate of 0.96 per share, representing a 2.08% earnings surprise. Total revenue for the quarter reached 172.17 million, exceeding the consensus estimate by 3.22%. This compares to net income of 63.9 million, or 1.10 diluted EPS, in the fourth quarter of 2024.
Year-over-Year and Full-Year Context
For the full year 2025, First Merchants achieved record results, with net income available to common stockholders of 224.1 million and diluted earnings per common share of 3.88. This represents a substantial increase from 199.5 million in net income and 3.41 diluted EPS for the full year 2024. Total loans grew by 938.8 million, or 7.3%, during the last twelve months, reaching 13.8 billion at quarter-end. Total deposits increased by 773.2 million, or 5.3%, over the same period, totaling 15.3 billion. The company’s efficiency ratio for the quarter stood at 54.52%.
Analyst Activity
As of January 7, 2026, analysts have a consensus “Hold” rating on First Merchants Corporation, with an average one-year price target of 47.60. Four research firms have rated the stock with a “Hold” and three have assigned a “Buy” rating. No new analyst upgrades, downgrades, or price target changes were reported today.