What is the 13F Pro Quality Score for FRME?

13F Pro ranks FIRST MERCHANTS CORP (FRME) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View FRME's current score at https://13fpro.ai/company/FRME (free sign-up required for the full ranking).

Where does 13F Pro source FRME data?

All FIRST MERCHANTS CORP fundamentals and ownership data come directly from SEC EDGAR. FIRST MERCHANTS CORP files with the SEC under CIK 712534. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is FRME in?

FIRST MERCHANTS CORP (FRME) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

How often is FRME research updated on 13F Pro?

FRME's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

FIRST MERCHANTS CORP(FRME)Stock Analysis

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13F Pro Quality Score

47.9/100

Rank #1,754 of 2,961 stocks

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

30.7/100

Profitability

87.0/100

Balance Sheet

42.3/100

Earnings Quality

63.1/100

Free Cash Flow

92.1/100

Institutional Flow

34.7/100

Revenue Scale

41.7/100

Dilution Risk

54.2/100

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Why FRME Scores 48/100

exact factor attribution · 2026-09-11

FRME's composite is driven by profitability and free cash flow, held back by revenue growth and scale. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Profitability

+7.4 pts

87th pct

Free cash flow

+6.3 pts

92th pct

Earnings quality

+1.3 pts

63th pct

Shareholder dilution

+0.3 pts

54th pct

Earnings growth

-1.0 pts

36th pct

Institutional flow

-1.0 pts

35th pct

Capital efficiency

-1.0 pts

42th pct

Scale

-1.7 pts

42th pct

Revenue growth

-5.2 pts

31th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

FRME Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for FIRST MERCHANTS CORP (FRME), a Financials sector company. 13F Pro's AI-powered ranking engine scores FRME at 47.9/100 on a 32-signal composite quality model, placing it at rank #1,754 of 2,961 stocks — the bottom half of the AI-ranked universe. FRME scores in the top quartile across free cash flow (92.1), profitability (87.0). Areas of concern include revenue growth (30.7) and institutional flow (34.7), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), FIRST MERCHANTS CORP reports quarterly revenue of $157.1M, net income of $28.2M. Top institutional holders of FRME by reported 13-F value include BlackRock, DIMENSIONAL FUND ADVISORS, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. FRME trades on the Nasdaq exchange and files with the SEC under CIK 712534. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FRME daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FIRST MERCHANTS CORP directly from SEC EDGAR.

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Fun facts about FIRST MERCHANTS CORP

Quirks, history, and lore behind FRME — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. regional bank holding company · mid-cap · listed on Nasdaq · headquartered in Indiana.
2
The Numbers
Sits on roughly $18 billion in total assets, with a network of over 100 banking locations spread across the Midwest — big enough to matter, small enough that most Americans have never heard of it.
3
The History
Traces its roots back to the late 19th century in Indiana, and has grown largely through community bank acquisitions — the classic Midwestern roll-up playbook.
4
The Secret
Its bread and butter is commercial and retail banking for individuals and businesses across Indiana, Ohio, and Michigan — three states, zero glamour, steady returns.
5
The Lore
The bank has made dozens of acquisitions over the decades, quietly gobbling up smaller community banks like a polite Midwestern Pac-Man with a conservative lending culture.
6
The Giveaway
Based in Muncie, Indiana, this company's name sounds like it should be on a colonial-era savings ledger — and its ticker, FRME, is about as subtle as the business itself.

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Revenue

Q1 2026

$157.1M

Net Income

Q1 2026

$28.2M

ROIC

Q1 2026

2.5%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+2.5% YoY

$662.9MFY 2025

FY22 $628.1MFY23 $651.0MFY24 $646.7MFY25 $662.9M

Net Income

+12.2% YoY

$226.0MFY 2025

FY22 $222.1MFY23 $223.8MFY24 $201.4MFY25 $226.0M

EPS (Diluted)

+13.8% YoY

$3.88FY 2025

FY22 $3.81FY23 $3.73FY24 $3.41FY25 $3.88

Total Assets

+3.9% YoY

$19.03BFY 2025

FY22 $17.94BFY23 $18.41BFY24 $18.31BFY25 $19.03B

Total Debt

-13.7% YoY

$999.9MFY 2025

FY22 $1.31BFY23 $1.03BFY24 $1.16BFY25 $999.9M

Op. Cash Flow

+6.5% YoY

$283.6MFY 2025

FY22 $284.3MFY23 $258.8MFY24 $266.2MFY25 $283.6M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$662.9M +2.5%	$646.7M -0.7%	$651.0M +3.6%	$628.1M +20.8%	$520.0M +5.7%	$492.1M
Net Income	$226.0M +12.2%	$201.4M -10.0%	$223.8M +0.8%	$222.1M +8.1%	$205.5M +38.3%	$148.6M
EPS (Diluted)	$3.88 +13.8%	$3.41 -8.6%	$3.73 -2.1%	$3.81 +0.0%	$3.81 +39.1%	$2.74
Total Assets	$19.03B +3.9%	$18.31B -0.5%	$18.41B +2.6%	$17.94B +16.1%	$15.45B +9.9%	$14.07B
Total Debt	$999.9M -13.7%	$1.16B +12.6%	$1.03B -21.7%	$1.31B +107.2%	$634.3M -7.4%	$684.9M
Operating Cash Flow	$283.6M +6.5%	$266.2M +2.9%	$258.8M -9.0%	$284.3M +32.0%	$215.3M +5.6%	$203.8M

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Available Research

13F Pro tracks comprehensive data for FIRST MERCHANTS CORP including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of FRME

BlackRock, Inc.
$232.6M5,324,728 sh
DIMENSIONAL FUND ADVISORS LP
$161.2M3,689,776 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$148.7M3,402,832 sh
VANGUARD CAPITAL MANAGEMENT LLC
$118.9M2,720,680 sh
STATE STREET CORP
$111.5M2,551,308 sh
EARNEST PARTNERS LLC
$95.0M2,174,024 sh
GEODE CAPITAL MANAGEMENT, LLC
$73.0M1,670,991 sh
Nuveen, LLC
$46.3M1,058,876 sh
VICTORY CAPITAL MANAGEMENT INC
$45.6M1,042,728 sh
SYSTEMATIC FINANCIAL MANAGEMENT LP
$37.2M850,405 sh

Fund	Value	Shares
BlackRock, Inc.	$232.6M	5,324,728
DIMENSIONAL FUND ADVISORS LP	$161.2M	3,689,776
VANGUARD PORTFOLIO MANAGEMENT LLC	$148.7M	3,402,832
VANGUARD CAPITAL MANAGEMENT LLC	$118.9M	2,720,680
STATE STREET CORP	$111.5M	2,551,308
EARNEST PARTNERS LLC	$95.0M	2,174,024
GEODE CAPITAL MANAGEMENT, LLC	$73.0M	1,670,991
Nuveen, LLC	$46.3M	1,058,876
VICTORY CAPITAL MANAGEMENT INC	$45.6M	1,042,728
SYSTEMATIC FINANCIAL MANAGEMENT LP	$37.2M	850,405

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Is FRME a good stock to buy?

13F Pro's AI-powered analysis of FIRST MERCHANTS CORP (FRME) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for FRME are available on the FRME stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. FRME is classified as a mid company.

Which hedge funds own FRME?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling FRME. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of FIRST MERCHANTS CORP's investment landscape.