First Merchants Analyst Price Targets

Wall Street analyst price targets and consensus rating for First Merchants (FRME).

Price Target Range — 11 Quarters

Analyst Consensus — 3 Analysts

2Buy

1Hold

Consensus RatingOverweight# Analysts3Avg. Consensus PT$47Upside to Avg. PT+12.6%

Rating Trend — Last 9 Months

Recent Analyst Actions

See all ratings →

Date	Firm	Analyst	Action	Rating Change	Price Target
Jun 26, 2026	Piper Sandler	Nathan Race	PT Raise	Overweight	$49→$51
Feb 4, 2026	Piper Sandler	Nathan Race	PT Raise	Overweight	$46→$49
Oct 27, 2025	Piper Sandler	Nathan Race	PT Cut	Overweight	$48→$46
Sep 29, 2025	Stephens & Co.	Terry McEvoy	Maintained	Equal-Weight	$46
Sep 26, 2025	Raymond James	Daniel Tamayo	Downgrade	Outperform→Market Perform	—
Sep 26, 2025	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$49→$50
Jul 28, 2025	Piper Sandler	Nathan Race	PT Cut	Overweight	$49→$48
Apr 28, 2025	Raymond James	Daniel Tamayo	PT Cut	Outperform	$46→$43
Apr 28, 2025	Piper Sandler	Nathan Race	PT Cut	Overweight	$55→$49
Apr 25, 2025	Keefe, Bruyette & Woods	Damon Delmonte	PT Cut	Outperform	$52→$49
Apr 2, 2025	Raymond James	Daniel Tamayo	PT Cut	Outperform	$50→$46
Jan 31, 2025	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$50→$52
Jan 31, 2025	Raymond James	Daniel Tamayo	PT Raise	Outperform	$42→$50
Jan 31, 2025	Piper Sandler	Nathan Race	PT Raise	Overweight	$52→$55
Dec 4, 2024	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$43→$50
Oct 28, 2024	Piper Sandler	Nathan Race	PT Cut	Overweight	$50→$47
Aug 28, 2024	Keefe, Bruyette & Woods	Damon Delmonte	Maintained	Outperform	$45
Aug 7, 2024	Stephens & Co.	Terry McEvoy	Downgrade	Overweight→Equal-Weight	$45→$38
Jul 29, 2024	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$43→$45
Jul 29, 2024	Piper Sandler	Nathan Race	PT Raise	Overweight	$41→$50

More with Benzinga EdgeGet Access

Analyst Ratings News

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $51

Piper Sandler analyst Nathan Race maintains First Merchants (NASDAQ:FRME) with a Overweight and raises the price target from $49 to $51.

Benzinga Newsdesk

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $49

Piper Sandler analyst Nathan Race maintains First Merchants (NASDAQ:FRME) with a Overweight and raises the price target from $46 to $49.

Benzinga Newsdesk

PRO
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

Piper Sandler analyst Nathan Race maintains First Merchants (NASDAQ:FRME) with a Overweight and lowers the price target from $48 to $46.

Benzinga Newsdesk

PRO
Stephens & Co. Reiterates Equal-Weight on First Merchants, Maintains $46 Price Target

Stephens & Co. analyst Terry McEvoy reiterates First Merchants (NASDAQ: FRME) with a Equal-Weight and maintains $46 price target.

Benzinga Newsdesk

PRO
Raymond James Downgrades First Merchants to Market Perform

Raymond James analyst Daniel Tamayo downgrades First Merchants (NASDAQ: FRME) from Outperform to Market Perform.

Benzinga Newsdesk

PRO
Keefe, Bruyette & Woods Maintains Outperform on First Merchants, Raises Price Target to $50

Keefe, Bruyette & Woods analyst Damon Delmonte maintains First Merchants (NASDAQ: FRME) with a Outperform and raises the price target from $49 to $50.

Benzinga Newsdesk

First Merchants Corp

First Merchants Analyst Price Targets

Recent Analyst Actions

Analyst Ratings News

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $51

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $49

PRO
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

PRO
Stephens & Co. Reiterates Equal-Weight on First Merchants, Maintains $46 Price Target

PRO
Raymond James Downgrades First Merchants to Market Perform

PRO
Keefe, Bruyette & Woods Maintains Outperform on First Merchants, Raises Price Target to $50

People Also Watch

People Also Watch

First Merchants Corp

First Merchants Analyst Price Targets

Recent Analyst Actions

Analyst Ratings News

PROPiper Sandler Maintains Overweight on First Merchants, Raises Price Target to $51

PROPiper Sandler Maintains Overweight on First Merchants, Raises Price Target to $49

PROPiper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

PROStephens & Co. Reiterates Equal-Weight on First Merchants, Maintains $46 Price Target

PRORaymond James Downgrades First Merchants to Market Perform

PROKeefe, Bruyette & Woods Maintains Outperform on First Merchants, Raises Price Target to $50

People Also Watch

People Also Watch

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $51

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $49

PRO
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

PRO
Stephens & Co. Reiterates Equal-Weight on First Merchants, Maintains $46 Price Target

PRO
Raymond James Downgrades First Merchants to Market Perform

PRO
Keefe, Bruyette & Woods Maintains Outperform on First Merchants, Raises Price Target to $50