Firstmerit Stock To Go Ex-dividend Tomorrow (FMER)

NEW YORK (TheStreet) -- The ex-dividend date for Firstmerit (Nasdaq:FMER) is tomorrow, February 23, 2012. Owners of shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $16.28 as of 9:30 a.m. ET, the dividend yield is 3.9%.

The average volume for Firstmerit has been 869,300 shares per day over the past 30 days. Firstmerit has a market cap of $1.74 billion and is part of the financial sector and banking industry. Shares are up 8.5% year to date as of the close of trading on Tuesday.

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 has a P/E ratio of 15, below the average banking industry P/E ratio of 15.1 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Firstmerit as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, expanding profit margins, notable return on equity and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Firstmerit Ratings Report.

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