FirstMerit Corporation (FMER) : Traders are bullish on FirstMerit Corporation (FMER) as it has outperformed the S&P 500 by a wide margin of 7.19% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.92%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.36% in the last 1 week, and is up 9.86% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
FirstMerit Corporation (NASDAQ:FMER): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $21.09 and $21.02 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.73. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.73, notching a gain of 3.48% for the day. The total traded volume was 737,023 . The stock had closed at $21.00 on the previous day.
The stock has recorded a 20-day Moving Average of 4.53% and the 50-Day Moving Average is 3.19%. FirstMerit Corporation is up 0.42% in the last 3-month period. Year-to-Date the stock performance stands at 18.42%.
FirstMerit Corporation (FMER) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $25 and the lowest price target forecast is $18. The average forecast of all the analysts is $20.63 and the expected standard deviation is $2.66.
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.