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First Merchants (FRME) Competitors

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$41.11 +0.01 (+0.02%)
Closing price 09/11/2026 04:00 PM Eastern
Extended Trading
$41.12 +0.02 (+0.04%)
As of 09/11/2026 07:30 PM Eastern
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FRME vs. BUSE, CATY, EFSC, FFBC, and FULT

Should you buy First Merchants stock or one of its competitors? First Merchants's main competitors and comparable companies include First Busey (BUSE), Cathay General Bancorp (CATY), Enterprise Financial Services (EFSC), First Financial Bancorp. (FFBC), and Fulton Financial (FULT). Companies are selected based on similarities in market, industry, and size. These companies are all part of the "regional banks" industry.

How does First Merchants compare to First Busey?

First Busey (NASDAQ:BUSE) and First Merchants (NASDAQ:FRME) are both mid-cap finance companies, but which is the superior investment? We will compare the two companies based on the strength of their valuation, institutional ownership, dividends, analyst recommendations, media sentiment, profitability, risk and earnings.

First Busey has a net margin of 21.00% compared to First Merchants' net margin of 17.05%. First Busey's return on equity of 10.48% beat First Merchants' return on equity.

Company Net Margins Return on Equity Return on Assets
First Busey21.00% 10.48% 1.40%
First Merchants 17.05%8.86%1.12%

56.5% of First Busey shares are held by institutional investors. Comparatively, 73.9% of First Merchants shares are held by institutional investors. 3.8% of First Busey shares are held by insiders. Comparatively, 1.8% of First Merchants shares are held by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a stock will outperform the market over the long term.

First Busey presently has a consensus target price of $32.00, indicating a potential upside of 5.12%. First Merchants has a consensus target price of $49.00, indicating a potential upside of 19.19%. Given First Merchants' higher possible upside, analysts clearly believe First Merchants is more favorable than First Busey.

Company Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
First Busey
0 Sell rating(s)
3 Hold rating(s)
4 Buy rating(s)
0 Strong Buy rating(s)
2.57
First Merchants
0 Sell rating(s)
3 Hold rating(s)
3 Buy rating(s)
0 Strong Buy rating(s)
2.50

In the previous week, First Busey had 1 more articles in the media than First Merchants. MarketBeat recorded 4 mentions for First Busey and 3 mentions for First Merchants. First Merchants' average media sentiment score of 1.78 beat First Busey's score of 0.85 indicating that First Merchants is being referred to more favorably in the news media.

Company Very Positive Positive Neutral Negative Very Negative Overall Sentiment
First Busey
1 Very Positive mention(s)
0 Positive mention(s)
2 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Positive
First Merchants
2 Very Positive mention(s)
0 Positive mention(s)
0 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Very Positive

First Merchants has higher revenue and earnings than First Busey. First Busey is trading at a lower price-to-earnings ratio than First Merchants, indicating that it is currently the more affordable of the two stocks.

CompanyGross RevenuePrice/Sales RatioNet IncomeEarnings Per SharePrice/Earnings Ratio
First Busey$789.53M3.18$135.26M$2.4212.58
First Merchants$1.05B2.45$226M$3.1213.18

First Busey pays an annual dividend of $1.04 per share and has a dividend yield of 3.4%. First Merchants pays an annual dividend of $1.48 per share and has a dividend yield of 3.6%. First Busey pays out 43.0% of its earnings in the form of a dividend. First Merchants pays out 47.4% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. First Busey has raised its dividend for 10 consecutive years and First Merchants has raised its dividend for 13 consecutive years. First Merchants is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

First Busey has a beta of 0.71, suggesting that its share price is 29% less volatile than the broader market. Comparatively, First Merchants has a beta of 0.84, suggesting that its share price is 16% less volatile than the broader market.

Summary

First Merchants beats First Busey on 10 of the 19 factors compared between the two stocks.

How does First Merchants compare to Cathay General Bancorp?

Cathay General Bancorp (NASDAQ:CATY) and First Merchants (NASDAQ:FRME) are both mid-cap finance companies, but which is the better stock? We will contrast the two businesses based on the strength of their analyst recommendations, media sentiment, risk, earnings, profitability, valuation, dividends and institutional ownership.

In the previous week, Cathay General Bancorp and Cathay General Bancorp both had 3 articles in the media. First Merchants' average media sentiment score of 1.78 beat Cathay General Bancorp's score of 1.69 indicating that First Merchants is being referred to more favorably in the news media.

Company Very Positive Positive Neutral Negative Very Negative Overall Sentiment
Cathay General Bancorp
2 Very Positive mention(s)
0 Positive mention(s)
0 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Very Positive
First Merchants
2 Very Positive mention(s)
0 Positive mention(s)
0 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Very Positive

Cathay General Bancorp has higher revenue and earnings than First Merchants. Cathay General Bancorp is trading at a lower price-to-earnings ratio than First Merchants, indicating that it is currently the more affordable of the two stocks.

CompanyGross RevenuePrice/Sales RatioNet IncomeEarnings Per SharePrice/Earnings Ratio
Cathay General Bancorp$1.38B2.99$315.12M$5.1212.11
First Merchants$1.05B2.45$226M$3.1213.18

Cathay General Bancorp has a beta of 0.85, indicating that its stock price is 15% less volatile than the broader market. Comparatively, First Merchants has a beta of 0.84, indicating that its stock price is 16% less volatile than the broader market.

Cathay General Bancorp pays an annual dividend of $1.52 per share and has a dividend yield of 2.5%. First Merchants pays an annual dividend of $1.48 per share and has a dividend yield of 3.6%. Cathay General Bancorp pays out 29.7% of its earnings in the form of a dividend. First Merchants pays out 47.4% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. First Merchants has raised its dividend for 13 consecutive years. First Merchants is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

Cathay General Bancorp has a net margin of 24.66% compared to First Merchants' net margin of 17.05%. Cathay General Bancorp's return on equity of 11.71% beat First Merchants' return on equity.

Company Net Margins Return on Equity Return on Assets
Cathay General Bancorp24.66% 11.71% 1.43%
First Merchants 17.05%8.86%1.12%

Cathay General Bancorp currently has a consensus price target of $62.25, suggesting a potential upside of 0.39%. First Merchants has a consensus price target of $49.00, suggesting a potential upside of 19.19%. Given First Merchants' stronger consensus rating and higher probable upside, analysts clearly believe First Merchants is more favorable than Cathay General Bancorp.

Company Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Cathay General Bancorp
1 Sell rating(s)
4 Hold rating(s)
1 Buy rating(s)
0 Strong Buy rating(s)
2.00
First Merchants
0 Sell rating(s)
3 Hold rating(s)
3 Buy rating(s)
0 Strong Buy rating(s)
2.50

75.0% of Cathay General Bancorp shares are held by institutional investors. Comparatively, 73.9% of First Merchants shares are held by institutional investors. 4.5% of Cathay General Bancorp shares are held by company insiders. Comparatively, 1.8% of First Merchants shares are held by company insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock is poised for long-term growth.

Summary

Cathay General Bancorp beats First Merchants on 11 of the 18 factors compared between the two stocks.

How does First Merchants compare to Enterprise Financial Services?

Enterprise Financial Services (NASDAQ:EFSC) and First Merchants (NASDAQ:FRME) are both mid-cap finance companies, but which is the superior investment? We will contrast the two businesses based on the strength of their earnings, valuation, institutional ownership, risk, profitability, dividends, analyst recommendations and media sentiment.

Enterprise Financial Services pays an annual dividend of $1.36 per share and has a dividend yield of 2.1%. First Merchants pays an annual dividend of $1.48 per share and has a dividend yield of 3.6%. Enterprise Financial Services pays out 27.0% of its earnings in the form of a dividend. First Merchants pays out 47.4% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. Enterprise Financial Services has raised its dividend for 11 consecutive years and First Merchants has raised its dividend for 13 consecutive years. First Merchants is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

72.2% of Enterprise Financial Services shares are owned by institutional investors. Comparatively, 73.9% of First Merchants shares are owned by institutional investors. 2.2% of Enterprise Financial Services shares are owned by company insiders. Comparatively, 1.8% of First Merchants shares are owned by company insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a company is poised for long-term growth.

In the previous week, Enterprise Financial Services and Enterprise Financial Services both had 3 articles in the media. First Merchants' average media sentiment score of 1.78 beat Enterprise Financial Services' score of 0.97 indicating that First Merchants is being referred to more favorably in the news media.

Company Very Positive Positive Neutral Negative Very Negative Overall Sentiment
Enterprise Financial Services
2 Very Positive mention(s)
0 Positive mention(s)
0 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Positive
First Merchants
2 Very Positive mention(s)
0 Positive mention(s)
0 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Very Positive

First Merchants has higher revenue and earnings than Enterprise Financial Services. Enterprise Financial Services is trading at a lower price-to-earnings ratio than First Merchants, indicating that it is currently the more affordable of the two stocks.

CompanyGross RevenuePrice/Sales RatioNet IncomeEarnings Per SharePrice/Earnings Ratio
Enterprise Financial Services$1.00B2.32$201.37M$5.0312.75
First Merchants$1.05B2.45$226M$3.1213.18

Enterprise Financial Services presently has a consensus price target of $70.00, indicating a potential upside of 9.15%. First Merchants has a consensus price target of $49.00, indicating a potential upside of 19.19%. Given First Merchants' higher probable upside, analysts plainly believe First Merchants is more favorable than Enterprise Financial Services.

Company Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Enterprise Financial Services
0 Sell rating(s)
1 Hold rating(s)
4 Buy rating(s)
0 Strong Buy rating(s)
2.80
First Merchants
0 Sell rating(s)
3 Hold rating(s)
3 Buy rating(s)
0 Strong Buy rating(s)
2.50

Enterprise Financial Services has a net margin of 18.72% compared to First Merchants' net margin of 17.05%. Enterprise Financial Services' return on equity of 9.70% beat First Merchants' return on equity.

Company Net Margins Return on Equity Return on Assets
Enterprise Financial Services18.72% 9.70% 1.11%
First Merchants 17.05%8.86%1.12%

Enterprise Financial Services has a beta of 0.78, meaning that its share price is 22% less volatile than the broader market. Comparatively, First Merchants has a beta of 0.84, meaning that its share price is 16% less volatile than the broader market.

Summary

First Merchants beats Enterprise Financial Services on 11 of the 18 factors compared between the two stocks.

How does First Merchants compare to First Financial Bancorp.?

First Merchants (NASDAQ:FRME) and First Financial Bancorp. (NASDAQ:FFBC) are both mid-cap finance companies, but which is the superior investment? We will contrast the two companies based on the strength of their profitability, media sentiment, earnings, dividends, analyst recommendations, risk, valuation and institutional ownership.

First Merchants currently has a consensus target price of $49.00, suggesting a potential upside of 19.19%. First Financial Bancorp. has a consensus target price of $33.67, suggesting a potential upside of 3.59%. Given First Merchants' higher probable upside, equities analysts plainly believe First Merchants is more favorable than First Financial Bancorp..

Company Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
First Merchants
0 Sell rating(s)
3 Hold rating(s)
3 Buy rating(s)
0 Strong Buy rating(s)
2.50
First Financial Bancorp.
0 Sell rating(s)
4 Hold rating(s)
4 Buy rating(s)
0 Strong Buy rating(s)
2.50

First Financial Bancorp. has a net margin of 20.77% compared to First Merchants' net margin of 17.05%. First Financial Bancorp.'s return on equity of 11.13% beat First Merchants' return on equity.

Company Net Margins Return on Equity Return on Assets
First Merchants17.05% 8.86% 1.12%
First Financial Bancorp. 20.77%11.13%1.49%

First Merchants has a beta of 0.84, meaning that its stock price is 16% less volatile than the broader market. Comparatively, First Financial Bancorp. has a beta of 0.91, meaning that its stock price is 9% less volatile than the broader market.

First Merchants pays an annual dividend of $1.48 per share and has a dividend yield of 3.6%. First Financial Bancorp. pays an annual dividend of $1.04 per share and has a dividend yield of 3.2%. First Merchants pays out 47.4% of its earnings in the form of a dividend. First Financial Bancorp. pays out 36.7% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. First Merchants has raised its dividend for 13 consecutive years and First Financial Bancorp. has raised its dividend for 1 consecutive years. First Merchants is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

In the previous week, First Financial Bancorp. had 1 more articles in the media than First Merchants. MarketBeat recorded 4 mentions for First Financial Bancorp. and 3 mentions for First Merchants. First Merchants' average media sentiment score of 1.78 beat First Financial Bancorp.'s score of 1.41 indicating that First Merchants is being referred to more favorably in the media.

Company Very Positive Positive Neutral Negative Very Negative Overall Sentiment
First Merchants
2 Very Positive mention(s)
0 Positive mention(s)
0 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Very Positive
First Financial Bancorp.
3 Very Positive mention(s)
0 Positive mention(s)
0 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Positive

73.9% of First Merchants shares are held by institutional investors. Comparatively, 77.2% of First Financial Bancorp. shares are held by institutional investors. 1.8% of First Merchants shares are held by insiders. Comparatively, 1.1% of First Financial Bancorp. shares are held by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a company is poised for long-term growth.

First Financial Bancorp. has higher revenue and earnings than First Merchants. First Financial Bancorp. is trading at a lower price-to-earnings ratio than First Merchants, indicating that it is currently the more affordable of the two stocks.

CompanyGross RevenuePrice/Sales RatioNet IncomeEarnings Per SharePrice/Earnings Ratio
First Merchants$1.05B2.45$226M$3.1213.18
First Financial Bancorp.$1.26B2.71$255.60M$2.8311.48

Summary

First Financial Bancorp. beats First Merchants on 11 of the 18 factors compared between the two stocks.

How does First Merchants compare to Fulton Financial?

First Merchants (NASDAQ:FRME) and Fulton Financial (NASDAQ:FULT) are both mid-cap finance companies, but which is the better stock? We will compare the two companies based on the strength of their profitability, media sentiment, institutional ownership, risk, valuation, dividends, earnings and analyst recommendations.

First Merchants pays an annual dividend of $1.48 per share and has a dividend yield of 3.6%. Fulton Financial pays an annual dividend of $0.76 per share and has a dividend yield of 3.2%. First Merchants pays out 47.4% of its earnings in the form of a dividend. Fulton Financial pays out 36.4% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. First Merchants has increased its dividend for 13 consecutive years and Fulton Financial has increased its dividend for 4 consecutive years. First Merchants is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

Fulton Financial has a net margin of 20.63% compared to First Merchants' net margin of 17.05%. Fulton Financial's return on equity of 12.68% beat First Merchants' return on equity.

Company Net Margins Return on Equity Return on Assets
First Merchants17.05% 8.86% 1.12%
Fulton Financial 20.63%12.68%1.30%

First Merchants currently has a consensus price target of $49.00, suggesting a potential upside of 19.19%. Fulton Financial has a consensus price target of $24.75, suggesting a potential upside of 4.87%. Given First Merchants' stronger consensus rating and higher possible upside, analysts plainly believe First Merchants is more favorable than Fulton Financial.

Company Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
First Merchants
0 Sell rating(s)
3 Hold rating(s)
3 Buy rating(s)
0 Strong Buy rating(s)
2.50
Fulton Financial
0 Sell rating(s)
4 Hold rating(s)
2 Buy rating(s)
0 Strong Buy rating(s)
2.33

In the previous week, Fulton Financial had 1 more articles in the media than First Merchants. MarketBeat recorded 4 mentions for Fulton Financial and 3 mentions for First Merchants. First Merchants' average media sentiment score of 1.78 beat Fulton Financial's score of 0.64 indicating that First Merchants is being referred to more favorably in the media.

Company Very Positive Positive Neutral Negative Very Negative Overall Sentiment
First Merchants
2 Very Positive mention(s)
0 Positive mention(s)
0 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Very Positive
Fulton Financial
1 Very Positive mention(s)
1 Positive mention(s)
1 Neutral mention(s)
0 Negative mention(s)
0 Very Negative mention(s)
Positive

73.9% of First Merchants shares are owned by institutional investors. Comparatively, 72.0% of Fulton Financial shares are owned by institutional investors. 1.8% of First Merchants shares are owned by company insiders. Comparatively, 0.0% of Fulton Financial shares are owned by company insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock will outperform the market over the long term.

First Merchants has a beta of 0.84, indicating that its stock price is 16% less volatile than the broader market. Comparatively, Fulton Financial has a beta of 0.78, indicating that its stock price is 22% less volatile than the broader market.

Fulton Financial has higher revenue and earnings than First Merchants. Fulton Financial is trading at a lower price-to-earnings ratio than First Merchants, indicating that it is currently the more affordable of the two stocks.

CompanyGross RevenuePrice/Sales RatioNet IncomeEarnings Per SharePrice/Earnings Ratio
First Merchants$1.05B2.45$226M$3.1213.18
Fulton Financial$1.89B2.38$391.61M$2.0911.29

Summary

First Merchants beats Fulton Financial on 12 of the 19 factors compared between the two stocks.

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New MarketBeat Followers Over Time

This chart shows the number of new MarketBeat users adding FRME and its top 5 competitors to their watchlist. Each company is represented with a line over a 90 day period.
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Media Sentiment Over Time

This chart shows the average media sentiment of NASDAQ and its competitors over the past 90 days as caculated by MarketBeat. The averaged score is equivalent to the following: Very Negative Sentiment <= -1.5, Negative Sentiment > -1.5 and <= -0.5, Neutral Sentiment > -0.5 and < 0.5, Positive Sentiment >= 0.5 and < 1.5, and Very Positive Sentiment >= 1.5.
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FRME vs. The Competition

MetricFirst MerchantsBanks IndustryFinance SectorNASDAQ Exchange
Market Cap$2.58B$23.86B$14.01B$12.71B
Dividend Yield3.60%3.17%5.94%11.16%
P/E Ratio13.1827.1925.6725.27
Price / Sales2.459.64509.9288.20
Price / Cash9.2916.1340.1651.44
Price / Book0.971.392.756.20
Net Income$226M$2.58B$1.32B$358.27M
7 Day Performance-2.26%-0.52%-1.17%-2.36%
1 Month Performance-4.93%-0.02%0.26%-2.77%
1 Year Performance2.70%23.58%9.27%7.64%

First Merchants Competitors List

CompanyMarketRankShare PriceAnalysts' Price Target1Y Price PerformanceMarket CapRevenueP/E RatioEmployee CountIndicator(s)
FRME
First Merchants
4.741 of 5 stars
$41.11
+0.0%
$49.00
+19.2%
+1.8%$2.58B$1.05B13.182,086
BUSE
First Busey
3.6903 of 5 stars
$30.55
-0.4%
$32.00
+4.8%
+23.6%$2.52B$1.04B12.621,948
CATY
Cathay General Bancorp
2.7608 of 5 stars
$62.20
-0.8%
$62.25
+0.1%
+25.9%$4.15B$870.57M12.151,268
EFSC
Enterprise Financial Services
4.0159 of 5 stars
$64.35
-0.5%
$70.00
+8.8%
+4.7%$2.33B$1.00B12.791,418
FFBC
First Financial Bancorp.
2.8613 of 5 stars
$32.83
-0.5%
$33.67
+2.6%
+24.3%$3.45B$1.26B11.602,199

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This page (NASDAQ:FRME) was last updated on 9/12/2026 by MarketBeat.com Staff.
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