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.
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