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Last $19.60 USD
Change Today -0.26 / -1.31%
Volume 1.0M
FMER On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 05/26/15 All times are local (Market data is delayed by at least 15 minutes).

firstmerit corp (FMER) Snapshot

Open
$19.80
Previous Close
$19.86
Day High
$19.89
Day Low
$19.47
52 Week High
07/1/14 - $20.32
52 Week Low
01/29/15 - $16.26
Market Cap
3.2B
Average Volume 10 Days
780.9K
EPS TTM
$1.44
Shares Outstanding
165.8M
EX-Date
05/28/15
P/E TM
13.6x
Dividend
$0.64
Dividend Yield
3.27%
Current Stock Chart for FIRSTMERIT CORP (FMER)

firstmerit corp (FMER) Related Businessweek News

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firstmerit corp (FMER) Details

FirstMerit Corporation operates as the 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, and money market accounts, as well as 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, 2014, it operated a network of 383 banking offices and 411 automated teller locations, which included 149 branches in Ohio; 44 branches in Chicago, Illinois; 140 Michigan branches; 46 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.

4,103 Employees
Last Reported Date: 05/1/15
Founded in 1855

firstmerit corp (FMER) Top Compensated Officers

Executive Chairman, Chief Executive Officer, ...
Total Annual Compensation: $1.0M
Chief Financial Officer, Senior Executive Vic...
Total Annual Compensation: $465.8K
Vice Chairman, Chairman of Firstmerit Michiga...
Total Annual Compensation: $556.9K
Chief Credit Officer and Senior Executive Vic...
Total Annual Compensation: $465.8K
Chief Commercial Banking Officer and Senior E...
Total Annual Compensation: $395.9K
Compensation as of Fiscal Year 2014.

firstmerit corp (FMER) Key Developments

FirstMerit Corporation Announces Dividend on Preferred Stock of Series A, Payable on August 4, 2015

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 on August 4, 2015, to shareholders of record on July 20, 2015.

FirstMerit Corporation Announces Quarterly Cash Dividend Payable on June 15, 2015

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 15, 2015, to shareholders of record on June 1, 2015.

Firstmerit Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015: Reports Impairment Charges for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year of 2015

FirstMerit Corporation announced unaudited consolidated earnings results for the first quarter of 2015. For the quarter, total interest income was $199,515,000 against $207,876,000 a year ago. Net interest income was $185,623,000 against $193,900,000 a year ago. Income before income tax expense was $82,570,000 against $77,303,000 a year ago. Net income was $57,139,000 against $53,455,000 a year ago. Net income attributable to common shareholders was $55,263,000 against $51,606,000 a year ago. Basic and diluted earnings per common share were $0.33 against $0.31 a year ago. Returns on average common equity (ROE) and average assets (ROA) were 8.08% and 0.93%, compared with 7.93% and 0.90% for the same period last year. Net interest income on a fully taxable- equivalent basis (non-GAAP) was $189,554,000 against $197,854,000 a year ago. Adjusted revenue (non-GAAP) was $255,047,000 against $265,068,000 a year ago. Tangible book value per common share was $11.96 against $11.03 a year ago. Return on average tangible common equity was 11.9%. For the quarter, the company's net charge-offs were $4,187,000 against $8,022,000 a year ago. The company intends to reinvest approximately $817 million in maturing investment cash flows over the remainder of 2015. Full year net interest income dollars are estimated to be down slightly less than 0.5% as a result. The net interest margin will be influenced over the remainder of the year by the level of market interest rates, spreads, mix of commercial and consumer loans and prepayment-related accretion on acquired loans. The tax rate is expected to approximate 30.8%.

 

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Industry Analysis

FMER

Industry Average

Valuation FMER Industry Range
Price/Earnings 14.1x
Price/Sales 3.3x
Price/Book 1.2x
Price/Cash Flow 13.6x
TEV/Sales 0.6x
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