Short Interest in Firstmerit Corp Drops By 28.1% (FMER)
Firstmerit Corp (NASDAQ:FMER) was the recipient of a large decrease in short interest during the month of May. As of May 30th, there was short interest totalling 4,512,189 shares, a decrease of 28.1% from the May 15th total of 6,273,340 shares, Stock Ratings Network reports. Currently, 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 857,365 shares, the short-interest ratio is presently 5.3 days.
FMER has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Firstmerit Corp from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 10th. They now have a $20.70 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Firstmerit Corp in a research note on Wednesday, April 23rd. They now have a $23.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Firstmerit Corp presently has a consensus rating of “Buy” and an average price target of $23.96.
Shares of Firstmerit Corp (NASDAQ:FMER) opened at 19.345 on Tuesday. Firstmerit Corp has a 1-year low of $18.50 and a 1-year high of $23.51. The stock has a 50-day moving average of $19.24 and a 200-day moving average of $20.72. The company has a market cap of $3.199 billion and a P/E ratio of 16.65.
Firstmerit Corp (NASDAQ:FMER) last released its earnings data on Tuesday, April 22nd. The company reported $0.31 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.36 by $0.05. During the same quarter last year, the company posted $0.33 earnings per share. Analysts expect that Firstmerit Corp will post $1.46 EPS for the current fiscal year.
FirstMerit Corporation (NASDAQ:FMER) is a bank holding company.
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