Firstmerit Corp Reaches New 52-Week Low at $17.31 (FMER)
Firstmerit Corp (NASDAQ:FMER) hit a new 52-week low during mid-day trading on Friday , Stock Ratings Network reports. The company traded as low as $17.31 and last traded at $17.33, with a volume of 508,070 shares. The stock had previously closed at $17.60.
FMER has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Firstmerit Corp from a “neutral” rating to an “underperform” rating in a research note on Thursday, July 24th. They now have a $17.20 price target on the stock. Separately, analysts at FIG Partners downgraded shares of Firstmerit Corp from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 24th. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Firstmerit Corp in a research note on Wednesday, July 23rd. They now have a $23.00 price target on the stock, down previously from $25.00. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $20.54.
The stock has a 50-day moving average of $19.13 and a 200-day moving average of $20.03. The company has a market cap of $2.886 billion and a price-to-earnings ratio of 14.31.
Firstmerit Corp (NASDAQ:FMER) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.36 by $0.01. During the same quarter in the prior year, the company posted $0.29 earnings per share. Analysts expect that Firstmerit Corp will post $1.41 EPS for the current fiscal year.
FirstMerit Corporation (NASDAQ:FMER) is a bank holding company.