Firstmerit Corp Reaches New 1-Year Low at $16.97 (FMER)
Shares of Firstmerit Corp (NASDAQ:FMER) hit a new 52-week low during trading on Thursday , American Banking and Market News reports. The company traded as low as $16.97 and last traded at $17.18, with a volume of 570,768 shares changing hands. The stock had previously closed at $17.32.
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 investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.54.
The stock’s 50-day moving average is $17.99 and its 200-day moving average is $19.48. The company has a market cap of $2.837 billion and a price-to-earnings ratio of 14.08.
Firstmerit Corp (NASDAQ:FMER) last announced its earnings results 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.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, August 28th.
FirstMerit Corporation (NASDAQ:FMER) is a bank holding company.
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