Last $19.16 USD
Change Today 0.00 / 0.00%
Volume 752.9K
FMER On Other Exchanges
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As of 8:10 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

firstmerit corp (FMER) Snapshot

Open
$19.11
Previous Close
$19.16
Day High
$19.29
Day Low
$19.00
52 Week High
11/25/13 - $23.51
52 Week Low
06/2/14 - $18.50
Market Cap
3.2B
Average Volume 10 Days
1,000.0K
EPS TTM
$1.34
Shares Outstanding
165.4M
EX-Date
05/22/14
P/E TM
14.3x
Dividend
$0.64
Dividend Yield
3.34%
Current Stock Chart for FIRSTMERIT CORP (FMER)

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firstmerit corp (FMER) Details

FirstMerit Corporation operates as a bank holding company for FirstMerit Bank, N.A. that provides various banking, fiduciary, financial, insurance, and investment services to corporate, institutional, and individual customers. The company’s Commercial segment offers commercial term loans, revolving credit arrangements, asset-based lending, leasing, commercial mortgages, real estate construction lending, and letters of credit, as well as treasury management, government banking, international banking, merchant card, and other depository products and services. Its Retail segment provides retail financial products and services, including consumer direct and indirect installment loans, debit and credit cards, debit gift cards, residential mortgage loans, home equity loans and lines of credit, deposit products, fixed and variable annuities, and ATM network services. This segment also offers deposit products comprising checking, savings, money market accounts, and certificates of deposit. The company’s Wealth segment provides trust and investment services, such as personal trust and planning, investment management, estate settlement, and administration services; retirement plan services; retail mutual funds, other securities, variable and fixed annuities, personal disability and life insurance products, and brokerage services; and private banking services, which comprise credit, deposit, and asset management solutions. As of December 31, 2013, it operated a network of 404 banking offices and 431 automated teller locations, which included 156 branches in Ohio; 44 branches in Chicago, Illinois; 153 Michigan branches; 47 Wisconsin branches; and 4 branches in Western Pennsylvania, as well as a loan production office in Indianapolis, Indiana. FirstMerit Corporation was founded in 1855 and is headquartered in Akron, Ohio.

4,521 Employees
Last Reported Date: 05/5/14
Founded in 1855

firstmerit corp (FMER) Top Compensated Officers

Executive Chairman, Chief Executive Officer, ...
Total Annual Compensation: $1.4M
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $495.0K
Vice Chairman, Chairman of Firstmerit Michiga...
Total Annual Compensation: $1.5M
Chief Credit Officer and Senior Executive Vic...
Total Annual Compensation: $501.3K
Chief Commercial Banking Officer and Senior E...
Total Annual Compensation: $430.0K
Compensation as of Fiscal Year 2013.

firstmerit corp (FMER) Key Developments

FirstMerit Corporation Announces Cash Dividend on Preferred Stock, Payable on August 4, 2014

The Board of Directors of FirstMerit Corporation announced a dividend of $14.69 per share, or $0.36725 per depository share, on the company's 5.875% non-cumulative perpetual preferred stock, Series A, payable August 4, 2014, to shareholders of record on July 18, 2014.

FirstMerit Corporation Announces Quarterly Cash Dividend, Payable on June 16, 2014

The board of directors of FirstMerit Corporation announced a quarterly cash dividend of $0.16 per share on the company's common stock, unchanged from last quarter, payable on June 16, 2014, to shareholders of record on May 27, 2014.

FirstMerit Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Reports Net Charge-Offs for the First Quarter Ended March 31, 2014

FirstMerit Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net interest income of $197,854,000 against $114,376,000 a year ago. Net income was $53,455,000 against $37,346,000 a year ago. Diluted earnings per share were $0.31 against $0.33 a year ago. Return on average assets was 0.90% against 1.01% a year ago. Return on average equity was 7.93% against 8.83% a year ago. Book value per common share was $16.62 against $15.99 a year ago. Tangible book value per common share was $11.03 against $10.83 a year ago. For the quarter, the company reported net charge-offs on originated loans totaled $8.0 million, or 0.31% of average originated loans in the first quarter 2014, compared with $3.4 million, or 0.13% of average originated loans, in the fourth quarter 2013 and $5.9 million, or 0.27% of average originated loans, in the first quarter 2013. Quarterly charge-offs on originated loans were elevated this quarter as a result of one commercial credit.

 

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Industry Analysis

FMER

Industry Average

Valuation FMER Industry Range
Price/Earnings 16.4x
Price/Sales 3.1x
Price/Book 1.2x
Price/Cash Flow 15.9x
TEV/Sales 0.4x
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