December 1, 2016 - By Marguerite Chambers · 0 Comments
Firstmerit Corp (NASDAQ:FMER) institutional sentiment decreased to 0 in Q2 2016. Its down -1.26, from 1.26 in 2016Q1. The ratio dropped, as 103 active investment managers increased and opened new holdings, while 82 decreased and sold stock positions in Firstmerit Corp. The active investment managers in our partner’s database now have: 117.72 million shares, down from 118.80 million shares in 2016Q1. Also, the number of active investment managers holding Firstmerit Corp in their top 10 holdings was flat from 2 to 2 for the same number . Sold All: 25 Reduced: 57 Increased: 74 New Position: 29.
FirstMerit Corporation is a bank holding company. The company has a market cap of $3.65 billion. The Company’s business consists of owning and supervising its affiliates. It has a 16.33 P/E ratio. It operates through FirstMerit Bank, N.A. and its other subsidiaries, providing a range of banking, fiduciary, financial, insurance and investment services to clients throughout Ohio, the Chicago, Illinois-metropolitan area, Michigan, Wisconsin and Western Pennsylvania.
The stock closed at $21.61 during the last session. It is down 24.91% since January 12, 2016 and is uptrending. It has outperformed by 18.99% the S&P500.
Water Island Capital Llc holds 3.96% of its portfolio in Firstmerit Corp for 3.94 million shares. Longfellow Investment Management Co Llc owns 393,300 shares or 2.84% of their US portfolio. Moreover, Yakira Capital Management Inc. has 2.35% invested in the company for 306,277 shares. The Missouri-based Stieven Capital Advisors L.P. has invested 2.29% in the stock. Magnetar Financial Llc, a Illinois-based fund reported 5.17 million shares.#img1#
Ratings analysis reveals 50% of FirstMerit Corporation’s analysts are positive. Out of 6 Wall Street analysts rating FirstMerit Corporation, 3 give it “Buy”, 0 “Sell” rating, while 3 recommend “Hold”. The lowest target is $18 while the high is $24.75. The stock’s average target of $20.55 is -4.91% below today’s ($21.61) share price. FMER was included in 10 notes of analysts from July 30, 2015. The firm has “Mkt Perform” rating given on Wednesday, January 27 by Raymond James. Stephens initiated the shares of FMER in a report on Tuesday, August 4 with “Overweight” rating. The firm earned “Overweight” rating on Monday, September 21 by Barclays Capital. The company was initiated on Monday, January 18 by Hovde Group. Sandler O’Neill upgraded the shares of FMER in a report on Thursday, January 28 to “Buy” rating. The rating was downgraded by Raymond James on Friday, November 13 to “Underperform”. The firm has “Market Perform” rating given on Friday, January 15 by Hovde Group. The firm earned “Sector Perform” rating on Wednesday, January 27 by RBC Capital Markets.
More important recent Firstmerit Corp (NASDAQ:FMER) news were published by: Reuters.com which released: “Huntington Bancshares to buy FirstMerit Corp for about $3.4 billion” on January 26, 2016, also Crainscleveland.com published article titled: “Shareholders approve $3.4 billion merger between Huntington Bancshares and …”, Fortune.com published: “Why These Two Ohio Banks Are Merging” on January 26, 2016. More interesting news about Firstmerit Corp (NASDAQ:FMER) was released by: Crainscleveland.com and their article: “Huntington Bancshares names FirstMerit Corp.’s Sandra Pierce to run private …” with publication date: June 22, 2016.
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By Marguerite Chambers