First Merchants Corporation (NASDAQ:FRME) is one of the top bank stocks to buy now according to analysts. The Street has a Buy rating on First Merchants stock and projects a more than 16% upside to the current share price.

On June 26, Piper Sandler raised its price target on First Merchants Corp (NASDAQ:FRME) shares to $51 from $49 and kept an Overweight rating on the stock. The brokerage upgraded the target for First Merchants as part of its target adjustment for Midwest banks ahead of Q2 results.

First Merchants started the year with strong momentum, delivering solid adjusted earnings growth and an expanded net interest margin….