FirstMerit Corp. (FMER) Announces Quarterly Earnings, Misses Estimates By $0.05 EPS
FirstMerit Corp. (NASDAQ:FMER) posted its quarterly earnings results on Tuesday. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.05, American Banking & Market News reports.
On a related note, analysts at FIG Partners upgraded shares of FirstMerit Corp. from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. They now have a $24.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.89.
Shares of FirstMerit Corp. (NASDAQ:FMER) opened at 20.055 on Tuesday. FirstMerit Corp. has a 1-year low of $15.98 and a 1-year high of $23.51. The stock has a 50-day moving average of $20.94 and a 200-day moving average of $21.68. The company has a market cap of $3.310 billion and a P/E ratio of 17.04.
FirstMerit Corporation (NASDAQ:FMER) is a bank holding company.
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