Firstmerit Corp (FMER) Releases Earnings Results, Beats Expectations By $0.01 EPS

Firstmerit Corp (FMER) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.33. The company posted revenue of $256.50 million in the period, compared to analysts expectations of $253.80 million. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Firstmerit Corp. Firstmerit Corp was Upgraded by Sandler O’Neill to ” Buy” on Jan 28, 2016.

Firstmerit Corp opened for trading at $22.28 and hit $22.55 on the upside on Friday, eventually ending the session at $22.34, with a gain of 0.04% or 0.01 points. The heightened volatility saw the trading volume jump to 16,48,603 shares. Company has a market cap of $3,703 M.

In a different news, on Nov 24, 2015, Carlton E Langer (EVP, Chief Legal Officer, Secy) sold 1,000 shares at $20.67 per share price. According to the SEC, on Nov 9, 2015, Christopher J Maurer (Executive Vice President) sold 4,561 shares at $20.34 per share price. On Jun 15, 2015, Sandra E. Pierce (Vice Chairman) sold 6,000 shares at $20.79 per share price, according to the Form-4 filing with the securities and exchange commission.

FirstMerit Corporation is a bank holding company. The Company’s business consists of owning and supervising its affiliates. The Company operates primarily through the Bank and its other subsidiaries providing a range of banking fiduciary financial insurance and investment services to corporate institutional and individual customers. It operates in four segments: Commercial Retail Wealth and Other. The Commercial segment provides a range of lending depository and related financial services. The Retail segment includes consumer lending and deposit gathering residential mortgage loan origination and servicing and branch-based small business banking. The Wealth segment offers an array of asset management private banking financial planning estate settlement and administration credit and deposit products and services. The Other segment includes activities of the parent company eliminations companies community development operations and the treasury group.

Firstmerit Corp

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