Firstmerit Corp Plans Quarterly Dividend of $0.16 (FMER)
Firstmerit Corp (NASDAQ:FMER) announced a quarterly dividend on Thursday, August 21st, Analyst Ratings Network reports. Stockholders of record on Tuesday, September 2nd will be paid a dividend of 0.16 per share on Monday, September 15th. This represents a $0.64 annualized dividend and a dividend yield of 3.70%.
A number of research firms have recently commented on FMER. 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. On the ratings front, 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.54.
Firstmerit Corp (NASDAQ:FMER) traded up 1.79% on Thursday, hitting $17.63. 375,295 shares of the company’s stock traded hands. Firstmerit Corp has a 52 week low of $17.05 and a 52 week high of $23.51. The stock has a 50-day moving average of $18.2 and a 200-day moving average of $19.56. The company has a market cap of $2.916 billion and a price-to-earnings ratio of 14.08.
Firstmerit Corp (NASDAQ:FMER) last released its earnings data on Tuesday, July 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.01. During the same quarter in the previous 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.
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