NEW YORK (

TheStreet

) -- The ex-dividend date for

Firstmerit

(Nasdaq:

FMER

) is tomorrow, May 31, 2012. Owners of shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $15.95 as of 9:30 a.m. ET, the dividend yield is 4%.

The average volume for Firstmerit has been 696,900 shares per day over the past 30 days. Firstmerit has a market cap of $1.77 billion and is part of the

financial

sector and

banking

industry. Shares are up 6.2% year to date as of the close of trading on Tuesday.

FirstMerit Corporation operates as a 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 14.3, below the average banking industry P/E ratio of 14.4 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, increase in net income, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full

Firstmerit Ratings Report

.

See our

dividend calendar

or

top-yielding stocks list

.

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