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First Merchants (FRME) reported $155.98 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 3.3%. EPS of $0.95 for the same period compares to $0.94 a year ago.
The reported revenue represents a surprise of -2.85% over the Zacks Consensus Estimate of $160.55 million. With the consensus EPS estimate being $0.91, the EPS surprise was +4.40%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Merchants performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
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Efficiency Ratio: 53.8% versus 55.1% estimated by three analysts on average.
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Net Interest Margin (FTE): 3.2% versus the three-analyst average estimate of 3.2%.
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Net Charge-offs (Recoveries) as % of Average Loans (Annualized): 0.2% versus the two-analyst average estimate of 0.2%.
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Average Balance - Total Earning Assets: $16.99 billion versus $17.05 billion estimated by two analysts on average.
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Total Non-Interest Income: $24.87 million versus $31.28 million estimated by three analysts on average.
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Net gains and fees on sales of loans: $6.76 million versus $5.23 million estimated by three analysts on average.
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Net Interest Income: $131.11 million versus the two-analyst average estimate of $129.63 million.
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Other customer fees: $0.34 million versus the two-analyst average estimate of $0.55 million.
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Net Interest Income (FTE): $136.99 million compared to the $135.55 million average estimate based on two analysts.
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Fiduciary and wealth management fees: $8.53 million compared to the $9 million average estimate based on two analysts.
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Service charges on deposit accounts: $8.36 million compared to the $8.22 million average estimate based on two analysts.
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Derivative hedge fees: $0.74 million versus $0.60 million estimated by two analysts on average.
View all Key Company Metrics for First Merchants here>>>
Shares of First Merchants have returned +2.2% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.