Firstmerit Stock Hits New 52-Week High (FMER)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Firstmerit (Nasdaq: FMER) hit a new 52-week high Monday as it is currently trading at $19.80, above its previous 52-week high of $19.79 with 543,144 shares traded as of 11:46 a.m. ET. Average volume has been 1.5 million shares over the past 30 days.

Firstmerit has a market cap of $3.21 billion and is part of the financial sector and banking industry. Shares are up 36.3% year to date as of the close of trading on Friday.

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 15.2, 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 solid stock price performance, growth in earnings per share, good cash flow from operations, expanding profit margins and attractive valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Firstmerit Ratings Report.

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