Todays Report: Today: Retirement Systems of Alabama invests in Firstmerit Corp (FMER) Shares

Today: Retirement Systems of Alabama invests in Firstmerit Corp (FMER) Shares

Retirement Systems of Alabama boosted its position in shares of Firstmerit Corp (NASDAQ:FMER) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,765 shares of the financial services provider’s stock after buying an additional 1,032 shares during the period. Retirement Systems of Alabama’s holdings in Firstmerit Corp were worth $4,353,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Opera Trading Capital purchased a new stake in shares of Firstmerit Corp during the first quarter worth about $191,000. LS Investment Advisors LLC raised its stake in shares of Firstmerit Corp by 72.5% in the second quarter. LS Investment Advisors LLC now owns 9,943 shares of the financial services provider’s stock worth $202,000 after buying an additional 4,179 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of Firstmerit Corp by 0.5% in the second quarter. Capstone Asset Management Co. now owns 14,119 shares of the financial services provider’s stock worth $286,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Firstmerit Corp by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 16,283 shares of the financial services provider’s stock worth $330,000 after buying an additional 1,129 shares during the last quarter. Finally, Sphinx Trading LP raised its stake in shares of Firstmerit Corp by 16.7% in the second quarter. Sphinx Trading LP now owns 21,000 shares of the financial services provider’s stock worth $426,000 after buying an additional 3,000 shares during the last quarter.

Shares of Firstmerit Corp (NASDAQ:FMER) remained flat at $21.61 during trading on Friday. Firstmerit Corp has a 1-year low of $15.33 and a 1-year high of $23.15. The firm has a 50-day moving average price of $20.74 and a 200-day moving average price of $21.07.

Firstmerit Corp (NASDAQ:FMER) last announced its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The firm had revenue of $252.90 million for the quarter, compared to analyst estimates of $258.24 million. During the same quarter in the prior year, the business earned $0.33 EPS. On average, analysts forecast that Firstmerit Corp will post $1.36 EPS for the current fiscal year.

Separately, Zacks Investment Research lowered Firstmerit Corp from a “buy” rating to a “hold” rating in a report on Tuesday, June 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 company currently has a consensus rating of “Hold” and a consensus price target of $21.35.

Firstmerit Corp Company Profile

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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