First Merchants Corp
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Financials : Banks | Small Cap Value
Company profile

First Merchants Corporation is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. The Bank also operates First Merchants Private Wealth Advisors (a division of First Merchants Bank). The Bank includes approximately 109 banking locations in Indiana, Ohio, Michigan and Illinois. In addition to its branch network, the Company offers comprehensive electronic and mobile delivery channels to its customers. The Company operates in a single business segment, which is community banking. Through the Bank, the Company offers a range of financial services, including accepting time, savings and demand deposits; making consumer, commercial, agri-business and real estate mortgage loans; providing personal and corporate trust services; offering full-service brokerage and private wealth management; and providing letters of credit, repurchase agreements and other corporate services.

Closing Price
$40.59
Day's Change
-2.13 (-4.99%)
Bid
--
Ask
--
B/A Size
--
Day's High
42.16
Day's Low
39.83
Volume
(Average)
Volume:
161,205

10-day average volume:
156,005
161,205

UiPath stock drops even as first public results top Street view

4:31 pm ET June 8, 2021 (MarketWatch)
Print

By Wallace Witkowski

Stock closes Tuesday 36% above April IPO price

UiPath Inc. shares fell in the extended session Tuesday even after the "software robots" provider surpassed Wall Street expectations in its first quarterly results as a public company.

UiPath (PATH) shares fell 12% after hours, following a 2.9% gain in the regular session to close at $76.

The company reported a first-quarter loss of $239.7 million, or $1.11 a share, compared with a loss of $52.8 million, or 33 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 2 cents a share, versus a loss of 9 cents a share in the year-ago period.

Revenue rose to $186.2 million from $113.1 million in the year-ago quarter. The company's annualized renewal run rate, or ARR, rose 64% to $652.6 million from a year ago. ARR is a metric often used by software-as-a-service companies to show how much revenue the company can expect based on subscriptions.

Analysts surveyed by FactSet had forecast a loss of 5 cents a share on revenue of $168.6 million and an ARR of $613.4 million.

Read: UiPath IPO: 5 things to know about the 'software robots' company valued at nearly $30 billion (https://www.marketwatch.com/story/uipath-ipo-5-things-to-know-about-the-software-robots-company-valued-at-nearly-30-billion-11618972303)

UiPath forecast revenue of $180 million to $185 million and ARR of $702 million to $704 million for the second quarter, while analysts expect revenue of $177.3 million and ARR of $662.4 million.

For the year, UiPath forecast ARR between $850 million and $855 million, while analysts estimate $809.8 million.

UiPath's stock made its debut on the New York Stock Exchange back in April (https://www.marketwatch.com/story/uipath-stock-surges-in-trading-debut-pushing-value-past-35-billion-11619024351). As of Tuesday's close, shares are 36% above their IPO price of $56 a share.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

June 08, 2021 16:31 ET (20:31 GMT)

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