FirstMerit Corporation (FMER) : Analyst Rating Update

FirstMerit Corporation (FMER) : Zacks Investment Research ranks FirstMerit Corporation (FMER) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 7 research analysts is 2.43, which indicates as a Buy.

FirstMerit Corporation (FMER) : 6 investment research analysts covering FirstMerit Corporation (FMER) have an average price target of $20.63 for the near short term. The highest target price given by the Brokerage Firm to the stock is $25 and the lowest target is $18 for the short term. Analysts expect the variance to be within $2.66 of the average price.

FirstMerit Corporation (NASDAQ:FMER): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $19.37 and $19.08 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.56, notching a gain of 0.03% for the day. The total traded volume was 2,601,978 . The stock had closed at $19.55 on the previous day.

The company shares have dropped -2.78% 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 $21.53 and the 200 Day Moving Average price is recorded at $20.43.

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.

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