FirstMerit Corporation (NASDAQ:FMER) has tumbled 4.62% during the past week and has dropped 7.21% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.48%. FirstMerit Corporation (NASDAQ:FMER) has underperformed the index by 8.06% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
FirstMerit Corporation (NASDAQ:FMER): The stock opened at $20.93 on Friday but the bulls could not build on the opening and the stock topped out at $21.03 for the day. The stock traded down to $20.70 during the day, due to lack of any buying support eventually closed down at $20.84 with a loss of -0.10% for the day. The stock had closed at $20.86 on the previous day. The total traded volume was 2,606,164 shares.
The company shares have dropped -0.86% from its 1 Year high price. On May 25, 2016, the shares registered one year high at $23.15 and the one year low was seen on Jan 25, 2016. The 50-Day Moving Average price is $22.12 and the 200 Day Moving Average price is recorded at $20.34.
On the companys insider trading activities, The officer (EVP, Chief Legal Officer, Secy), of Firstmerit Corp /Oh/, Langer Carlton E had unloaded 1,000 shares at $20.67 per share in a transaction on November 20, 2015. The total value of transaction was $20,670. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Currently the company Insiders own 1.5% of FirstMerit Corporation shares according to the proxy statements. Institutional Investors own 75.43% of FirstMerit Corporation shares.
FirstMerit Corporation is a bank holding company. The Companys 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.