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NEW YORK ( TheStreet) -- The ex-dividend date for Firstmerit (Nasdaq: FMER) is tomorrow, November 23, 2011. Owners of shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $13.74 as of 9:30 a.m. ET, the dividend yield is 4.5%. The average volume for Firstmerit has been 1.2 million shares per day over the past 30 days. Firstmerit has a market cap of $1.56 billion and is part of the financial sector and banking industry. Shares are down 30.3% year to date as of the close of trading on Monday. 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 13.3, below the average banking industry P/E ratio of 13.5 and below the S&P 500 P/E ratio of 17.7.