NEW YORK (
) -- The ex-dividend date for
) is tomorrow, May 26, 2011. Owners of shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $16.30 as of 9:31 a.m. ET, the dividend yield is 3.9%.
The average volume for FirstMerit has been 839,100 shares per day over the past 30 days. FirstMerit has a market cap of $1.8 billion and is part of the
industry. Shares are down 18% 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 a range of banking, fiduciary, financial, insurance, and investment services to corporate, institutional, and individual customers in northern and central Ohio, and western Pennsylvania. The company has a P/E ratio of 15.2, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates FirstMerit as a
. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, good cash flow from operations, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full