First Merchants (FRME Quick QuoteFRME - Free Report) reported $169.12 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 31.9%. EPS of $1.07 for the same period compares to $0.88 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $176.9 million, representing a surprise of -4.40%. The company delivered an EPS surprise of -7.76%, with the consensus EPS estimate being $1.16.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how First Merchants performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net Interest Margin [%]: 3.58% versus 3.75% estimated by three analysts on average.
• Efficiency Ratio: 51.72% compared to the 50.13% average estimate based on three analysts.
• Total Non-Interest Income: $25 million versus $24.30 million estimated by three analysts on average.
• Net gains and fees on sales of loans: $2.40 million versus $1.93 million estimated by three analysts on average.

View all Key Company Metrics for First Merchants here>>>

Shares of First Merchants have returned -11.1% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.