This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10 Midwest Bank Stocks Finally Paying Off


8. FirstMerit

Shares of FirstMerit (FMER) of Akron, Ohio, closed at $17.21 Friday returning 15% year-to-date, following a 20% decline during 2011.

Based on a 16-cent quarterly payout, the shares have a dividend yield of 3.72%.

FirstMerit earned $119.6 million, or $1.10 a share during 2011, increasing from $102.9 million, or $1.02 a share, during 2010.

At the KBW Boston Bank Conference on Feb. 29, FirstMerit CEO Paul Greig said that the company had "earned money 51 consecutive quarters, with "returns on average assets and equity are strong versus our peers."

The 2011 ROA was 0.82%, putting the company in the middle of this group of 10 Midwest bank holding companies.

KBW analyst Christopher McGratty rates FirstMerit "Market Perform," with a $14 price target, saying on March 2 that he company remained "well-positioned to pursue attractive M&A opportunities in the Chicagoland market, and we anticipate the company will remain a disciplined and selective buyer."

McGratty estimates that FirstMerit will earn $1.15 a share during 2012, followed by EPS of $1.25 in 2013.

The shares trade for 1.7 times tangible book value, and for 15 times the consensus 2012 EPS estimate of $1.13. The consensus 2013 EPS estimate is $1.21.

Interested in more on FirstMerit? See TheStreet Ratings' report card for this stock.

4 of 11

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs