Last $18.00 USD
Change Today -0.23 / -1.26%
Volume 1.1M
FMER On Other Exchanges
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As of 8:10 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

firstmerit corp (FMER) Snapshot

Open
$18.09
Previous Close
$18.23
Day High
$18.26
Day Low
$18.00
52 Week High
11/25/13 - $23.51
52 Week Low
07/23/14 - $18.00
Market Cap
3.0B
Average Volume 10 Days
1.3M
EPS TTM
$1.41
Shares Outstanding
165.4M
EX-Date
05/22/14
P/E TM
12.8x
Dividend
$0.64
Dividend Yield
3.56%
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.

4,392 Employees
Last Reported Date: 07/22/14
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 Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Net Charge-Offs for the Second Quarter Ended June 30, 2014

FirstMerit Corporation announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net interest income TE of $199.666 million against $201.605 million a year ago. Net income was $59.519 million against $48.450 million a year ago. Return on average assets was 0.98% against $0.85% a year ago. Return on average equity was 8.62% against 7.56% a year ago. Book value per common share was $16.88 against $16.06 a year ago. Tangible book value per common share was $11.33 against $10.43 million a year ago. Total interest income was $210.325 million against $213.771 million a year ago. Net interest income was $195.577 million against $198.031 million a year ago. Income before income tax expense was $85.484 million against $71.273 million a year ago. Net income attributable to common shareholders was $57.561 million or $0.35 per diluted share against $46.598 million or $0.29 per diluted share a year ago. For the six months, the company reported total interest income of $418.200 million against $335.726 million a year ago. Net interest income was $389.479 million against $309.379 million a year ago. Income before income tax expense was $162.787 million against $123.921 million a year ago. Net income attributable to common shareholders was $109.110 million or $0.66 per diluted share against $82.584 million or $0.61 per diluted share a year ago. Net charge-offs on originated loans totaled $6.2 million, or 0.22% of average originated loans in the second quarter 2014, compared with $8.0 million, or 0.31% of average originated loans, in the first quarter 2014 and $3.3 million, or 0.15% of average originated loans, in the second quarter 2013.

FirstMerit Corporation to Report Q2, 2014 Results on Jul 22, 2014

FirstMerit Corporation announced that they will report Q2, 2014 results at 11:00 AM, US Eastern Standard Time on Jul 22, 2014

FirstMerit Corporation, Q2 2014 Earnings Call, Jul 22, 2014

FirstMerit Corporation, Q2 2014 Earnings Call, Jul 22, 2014

 

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Industry Analysis

FMER

Industry Average

Valuation FMER Industry Range
Price/Earnings 14.7x
Price/Sales 2.9x
Price/Book 1.1x
Price/Cash Flow 14.1x
TEV/Sales 0.0x
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