Firstmerit Corp (FMER) : Chicago Capital Management scooped up 35,400 additional shares in Firstmerit Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 1,128,409 shares of Firstmerit Corp which is valued at $23,572,464.Firstmerit Corp makes up approximately 8.53% of Chicago Capital Management’s portfolio.
Other Hedge Funds, Including , Edge Wealth Management added FMER to its portfolio by purchasing 600 company shares during the most recent quarter which is valued at $11,868.Alpha Windward reduced its stake in FMER by selling 2,712 shares or 12.29% in the most recent quarter. The Hedge Fund company now holds 19,357 shares of FMER which is valued at $382,881. Firstmerit Corp makes up approx 0.27% of Alpha Windward’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in FMER in the latest quarter, The investment management firm added 39,000 additional shares and now holds a total of 180,257 shares of Firstmerit Corp which is valued at $3,565,483. Firstmerit Corp makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.
Firstmerit Corp opened for trading at $20.77 and hit $20.94 on the upside on Monday, eventually ending the session at $20.89, with a gain of 0.29% or 0.06 points. The heightened volatility saw the trading volume jump to 5,50,593 shares. Company has a market cap of $3,478 M.
On the company’s financial health, Firstmerit Corp reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.33. The company had revenue of $256.50 million for the quarter, 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.
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.