FirstMerit Reports 25 Cent EPS (FMER)

Akron, Ohio-based FirstMerit Corporation FMER announced on Tuesday morning that it missed consensus Wall Street earnings estimates. FirstMerit Corporation reported that its 4th quarter net income rose to $27.0 million, or 25 cents per share, up from $14.5 million, or 17 cents per share, a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 27 cents per share. FirstMerit Corporation (FMER) closed the previous trading day at $18.32 per share. Analysts covering the company's stock give it a consensus price target of $21.71 per share. FirstMerit Corporation is a diversified financial services company that provides a complete range of banking and other financial services to consumers and businesses through its core operations. Read more from Benzinga's Company news.