FRMEP vs FSEA

First Merchants Corporation - D vs First Seacoast Bancorp, Inc. — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — FRMEP scores higher on quality with 8.1/10 vs FSEA's 6.7/10. FRMEP trades at $25.12 while FSEA trades at $16.76. Both analyzed daily using SEC EDGAR data across 13 institutional models.

FRMEP

Banks - Regional
First Merchants Corporation - D
Quality
8.1
out of 10
Value Trap
20
SAFE
Price
$25.12
Last close
Models
11/13
Active
VS

FSEA

Banks - Regional
First Seacoast Bancorp, Inc.
Quality
6.7
out of 10
Value Trap
12
SAFE
Price
$16.76
Last close
Models
10/13
Active
FRMEP
Earnings Power Value sees +75.1% upside
Limited to 2/13 visible models
FSEA
2 models active
Limited to 2/13 visible models

FRMEP vs FSEA — Fair Value Comparison

FRMEP
$0$17$35$52 Price$25.12 Bayesian …$22.30 (-11.2%) Earnings …$43.99 (+75.1%)
FSEA
$0$7$13$20 Price$16.76 Bayesian …$1.78 (-89.4%) Earnings …$9.19 (-19.2%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType FRMEP Fair ValueFRMEP Upside FSEA Fair ValueFSEA Upside
Bayesian DCF Intrinsic $22.30 -11.2% $1.78 -89.4%
Earnings Power Value Intrinsic $43.99 +75.1% $9.19 -19.2%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
Markov DDM Intrinsic $•••.•• ••.•% $•••.•• ••.•%
ML-RIV Intrinsic $•••.•• ••.•% $•••.•• ••.•%
PWERM Option-Based $•••.•• ••.•% $•••.•• ••.•%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
FTNN Topology Relative $•••.•• ••.•% $•••.•• ••.•%
RCMH-DCF Intrinsic $•••.•• ••.•% $•••.•• ••.•%

FRMEP vs FSEA — Which Stock Is More Undervalued in 2026?

FRMEP scores higher with a 8.1/10 quality rating vs FSEA's 6.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do FRMEP and FSEA Valuations Compare?

At $25.12, FRMEP trades +11.2% above its Bayesian DCF fair value of $22.30, while FSEA at $16.76 trades +89.4% above its estimate of $1.78. FSEA shows a wider gap between price and intrinsic value.

Quality of Company: FRMEP vs FSEA

FRMEP earns a Quality of Company score of 8.1/10 compared to FSEA's 6.7/10. This moderate difference suggests one company has an edge in fundamental quality, though both may offer investment merit depending on valuation. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: FRMEP vs FSEA

FRMEP carries a SAFE value trap risk (20/100) while FSEA shows SAFE risk (12/100). Both companies show manageable value trap risk, suggesting their current valuations are not artificially depressed by fundamental deterioration.

Both in Banks - Regional

Both FRMEP and FSEA operate in Banks - Regional, which has 329 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

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