Firstmerit Corp (FMER) Shares Sold by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lowered its position in shares of Firstmerit Corp (NASDAQ:FMER) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,292,177 shares of the financial services provider’s stock after selling 1,762 shares during the period. Dimensional Fund Advisors LP owned about 3.18% of Firstmerit Corp worth $107,263,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Magnetar Financial LLC purchased a new position in Firstmerit Corp during the first quarter worth $100,592,000. Adage Capital Partners GP L.L.C. purchased a new position in Firstmerit Corp during the first quarter worth $21,050,000. Metropolitan Life Insurance Co. NY increased its stake in Firstmerit Corp by 1.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 261,552 shares of the financial services provider’s stock valued at $5,506,000 after buying an additional 3,773 shares during the last quarter. Geode Capital Management LLC increased its stake in Firstmerit Corp by 8.6% in the first quarter. Geode Capital Management LLC now owns 1,194,611 shares of the financial services provider’s stock valued at $25,146,000 after buying an additional 94,474 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in Firstmerit Corp by 19.3% in the first quarter. BlackRock Group LTD now owns 171,204 shares of the financial services provider’s stock valued at $3,603,000 after buying an additional 27,720 shares during the last quarter.
Firstmerit Corp (NASDAQ:FMER) remained flat at $21.61 during trading on Monday. Firstmerit Corp has a 52-week low of $15.33 and a 52-week high of $23.15. The firm’s 50 day moving average price is $20.74 and its 200 day moving average price is $21.07.
Firstmerit Corp (NASDAQ:FMER) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The firm earned $252.90 million during the quarter, compared to the consensus estimate of $258.24 million. During the same period in the previous year, the business earned $0.33 EPS. Equities analysts anticipate that Firstmerit Corp will post $1.36 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded Firstmerit Corp from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.35.
About Firstmerit Corp
FirstMerit Corporation is a bank holding company. The Company’s business consists of owning and supervising its affiliates. It operates through FirstMerit Bank, N.A. and its other subsidiaries, providing a range of banking, fiduciary, financial, insurance and investment services to customers throughout Ohio, the Chicago, Illinois-metropolitan area, Michigan, Wisconsin and Western Pennsylvania.
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