5 Most Undervalued Bank Stocks to Buy Now

3. First Merchants Corp. (NASDAQ:FRME)

First Merchants Corp. (NASDAQ:FRME) is one of the 10 most undervalued bank stocks to buy now.

As of the March 16 close, First Merchants Corp. (NASDAQ:FRME) had a moderately bullish consensus sentiment, with Buy ratings from 2 analysts covering the stock. With a median 1-year price target of $46.50, the stock offers more than 16% upside potential, making it one of the best undervalued banking stocks that investors should watch out for.

What is also driving the story for First Merchants Corp. (NASDAQ:FRME) is its commercial partnerships to expand service offerings. On March 31, it reported a collaboration with Spiral. What essentially drove this collaboration is the bank’s primary objective, which is to significantly improve the financial well-being of the many communities it actively serves. By working together, the financial institution hopes to provide the market with cutting-edge and highly customized digital experiences while also effectively expanding and retaining its deposit base at a reasonable cost.

Thanks to this, the average consumer may now easily save to meet their financial objectives through regular digital banking and everyday purchases. Better still, the new ecosystem simultaneously enables these same users to directly support local non-profits and important community causes right as they manage their money.

First Merchants Corp. (NASDAQ:FRME) provides commercial and consumer banking solutions, offering a wide array of services including savings and deposits, mortgages, refinancing, and credit cards. It also offers wealth and investment management services, private banking, brokerage, and fiduciary estate.