Firstmerit Corp Coverage Initiated at Sterne Agee (FMER)
Sterne Agee began coverage on shares of Firstmerit Corp (NASDAQ:FMER) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Shares of Firstmerit Corp (NASDAQ:FMER) traded down 0.72% during mid-day trading on Wednesday, hitting $19.39. The stock had a trading volume of 1,003,845 shares. Firstmerit Corp has a one year low of $18.50 and a one year high of $23.51. The stock’s 50-day moving average is $19.42 and its 200-day moving average is $20.43. The company has a market cap of $3.206 billion and a P/E ratio of 16.66.
Firstmerit Corp (NASDAQ:FMER) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.36 by $0.05. During the same quarter in the prior year, the company posted $0.33 earnings per share. Analysts expect that Firstmerit Corp will post $1.46 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. set a $22.00 price target on shares of Firstmerit Corp in a research note on Wednesday. Separately, 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 Zacks downgraded shares of Firstmerit Corp from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 8th. They now have a $18.40 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $23.84.
FirstMerit Corporation (NASDAQ:FMER) is a bank holding company.
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