Oppenheimer Reiterates Outperform Rating On FirstMerit

According to Oppenheimer, FirstMerit FMER Outperform rating is reiterated. Oppenheimer said that it reiterates its Outperform rating and $19 price target on shares of FirstMerit. “Near-term commercial loan growth opportunities exist in both of the company's core markets. While M&A activity (FDIC-assisted and whole bank) has slowed noticeably in recent months, we see FirstMerit as a buyer once deal flow picks up. Last, we see limited downside in the stock given the company's 4.1% dividend yield.” FirstMerit closed yesterday at $15.76.