FirstMerit Corp (FMER)

FMER (NASDAQ:Banking) EQUITY
$20.85
pos +0.00
+0.00%
Today's Range: 20.75 - 20.94 | FMER Avg Daily Volume: 1,134,000
Last Update: 07/25/16 - 4:00 PM EDT
Volume: 781,518
YTD Performance: 11.80%
Open: $20.77
Previous Close: $20.85
52 Week Range: $15.33 - $23.15
Oustanding Shares: 166,490,890
Market Cap: 3,441,366,696
6-Month Chart
TheStreet Ratings Grade for FMER
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
TheStreet Ratings is the source for accurate ratings that you can rely upon to make sound, informed financial decisions. Click here to find out about our methodology.
Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 2 2 2 2
Moderate Buy 0 0 0 0
Hold 4 5 6 6
Moderate Sell 0 0 0 0
Strong Sell 0 0 0 0
Mean Rec. 2.33 2.43 2.50 2.50
Latest Dividend: 0.17
Latest Dividend Yield: 3.29%
Dividend Ex-Date: 05/26/16
Price Earnings Ratio: 15.78
Price Earnings Comparisons:
FMER Sector Avg. S&P 500
15.78 15.70 12.90
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
-6.67% 0.05% -3.78%
GROWTH 12 Mo 3 Yr CAGR
Revenue -4.10 0.50 0.13
Net Income -3.60 0.70 0.19
EPS -3.70 0.10 0.03
Earnings for FMER:
EBITDA 0.38B
Revenue 1.07B
Average Earnings Estimates
Qtr (06/16) Qtr (09/16) FY (12/16) FY (12/17)
Average Estimate $0.34 $0.36 $1.41 $1.51
Number of Analysts 3 3 3 3
High Estimate $0.35 $0.37 $1.43 $1.55
Low Estimate $0.33 $0.35 $1.36 $1.44
Prior Year $0.33 $0.34 $1.33 $1.41
Growth Rate (Year over Year) 2.02% 6.86% 5.76% 7.58%
Chart Benchmark
Average Frequency Timeframe
Indicator Chart Scale  
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By

Doug Kass

 | Jan 26, 2016 | 4:35 PM EST
I thought today was a picture perfect day for the bullishly inclined. In the market without memory from day to day, the market forgot yesterday. Mr. Market had every reason to continue yesterday's schmeissing. It looked scary at the get go. If someone told you the Chinese stock market would be down 6% overnight, raise your hand if you would have expected the S&P 500 to advance by more than 20 handles? I don't see many hands. At their nadir, the S&P futures dropped by about 17 handles last evening. At 3:45 p.m. ET today, they had rallied by more than 40 handles. During the day there were several small dips; the market had every excuse to sell off, but buyers surfaced. There was an interesting and respectful debate between Rev and myself with regard to the enthusiasm corresponding to today's rally. I don't see it (I see fear and immobility), Rev sees optimism. (See my Columnist Conversation response and Rev's column.) It's an open debate that will not be resolved for a bit more time! Per the last bullet point, the investor sentiment numbers out midweek should be interesting. The U.S. dollar was modestly weaker today. Crude, the tail that wags the market's dog, climbed 90 cents. Natural gas was a penny higher. I covered my oil shorts in the session's early going. Gold was up $17. Treasuries were flattish, with most maturities showing a basis point change of one to two (up and down) in yield. Municipals were offered, but closed-end muni funds traded well.  They had been a source of funds recently). High-yield debt followed the crude market and was better bid. iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was up 70 cents and SPDR Barclays High Yield Bond ETF (JNK) was up 28 cents. Blackstone/GSO Strategic Credit Fund (BGB) regained what it lost yesterday. I have further added over the last three days. Wheat was three cents higher, corn a penny lower and soybeans down a nickel. Lumber was up 2%. FInancials rebounded from Monday's poor showing. The planned acquisition by Huntington Bancshares (HBAN) of FirstMerit (FMER) sparked the regional sector. I continue to add to Hartford Financial Services Group (HIG), Citigroup (C) and Bank of America (BAC). Staples, led by Kimberly-Clark (KMB) and Procter & Gamble (PG), were strong. Old tech was well-bid, though gains were muted. (T)FANG underperformed. But as I mentioned, I believe this is a positive signpost. We want to see leadership broaden and (arguably) excessive speculative valuations curbed.  NOSH was higher, led by O'Reilly Automotive (ORLY). CRABBY was strong across the board, with all six components higher. I had an active trading day; I covered a number of shorts, including Exxon Mobil (XOM), Schlumberger (SLB), iShares MSCI Germany (EWG), iShares MSCI France (EWQ) and iShares MSCI United Kingdom (EWU). I also bought several new positions, including Procter & Gamble
By

Doug Kass

 | Jan 26, 2016 | 9:22 AM EST
My investment experience is that it's not smart to be fearful when most people are fearful.
By

Doug Kass

 | Nov 2, 2015 | 11:04 AM EST
I'm further reducing my bank exposure this morning by selling First Merit Corp. (FMER) at $18.80 and taking this regional bank off of my "Best Ideas" list.
By

Doug Kass

 | Jul 27, 2015 | 10:55 AM EDT
Bank of America (BAC): $16.50 to $17 Citigroup (C ): $55 to $56 JPMorgan (JPM): $65.50 to $66.50
By

Doug Kass

 | Jul 23, 2015 | 11:59 AM EDT
In response to a number of emails, I would not chase bank stocks now nor would I sell the stocks -- unless the timeframe is quite short term. Let the sector back down on profit taking after the huge move.
By

Doug Kass

 | Jun 29, 2015 | 11:07 AM EDT
I have received numerous emails asking me about bank stocks.
By

Doug Kass

 | Jun 24, 2015 | 10:12 AM EDT
If so, the run in bank stocks may be in jeopardy.
By

Doug Kass

 | Jun 2, 2015 | 2:11 PM EDT
My package of regional bank stocks are broadly higher today, likely in response to the rise in interest rates over the last 48 hours. Money centers are also doing well. I am standing pat with my long list of 13 holdings in the expectation of a two- to three-year play to the upisde.
By

Doug Kass

 | May 28, 2015 | 11:18 AM EDT
I shorted small in SPY and QQQ. I added to longs of Ford (F), General Motors (GM), Radian (RDN) and a few closed-end municipal bond funds.
By

Doug Kass

 | May 27, 2015 | 7:39 AM EDT
SONA pays a 32-cent dividend and the shares yield almost 2.8%, providing a reasonable return as I await an ultimate takeover transaction; Current book value approximates $8.50/share; SONA is well managed, with a strong 58.9% efficiency ratio that comes in far better than its community-bank peers; Earnings growth is projected at about 11% to 13% annually in 2015-17. My price objective based on fundamentals over the next 12 months is for a 15% gain from the current share-price level. SONA trades by appointment (market cap is only $150 million), so I would be using limit orders. MB Financial MBFI was formed in 1999 out of a merger of equals between Avondale Financial and Coal City Corp. and is the parent of Chicago-based MB Financial. The bank has nearly 100 branches and almost $15 billion in assets. MBFI is Chicago's third-largest bank, has a $2.3 billion market cap and has broad-based exposure to the region's middle market. MBFI has grown both internally and via acquisition, buying six banks/thrifts, a leasing company and an asset manager.  Recent Results Linked loans were flat in the first quarter vs. 2014's fourth quarter. Higher operating expenses and pressures on net interest margins have slightly reduced the 2015-16 outlook, but annual EPS growth nonetheless should be approximately 12%. Other factors: MBFI's dividend only provides a 1.9% yield, but an offset to that is a lower relative PE multiple and more-rapid EPS growth (12% E).   The outlook for MBFI's commercial and industrial loan growth is excellent: first-quarter growth was 11%, which augurs well for 2015 EPS. MBFI's core fees represent a large 41% of total revenue, providing good diversification from net interest income. Noninterest-bearing deposits are now approaching 40% of total deposits, which will fuel the aforemen
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