Stieven Capital Advisors Lowers stake in Firstmerit Corp (FMER)

Firstmerit Corp (FMER) : Stieven Capital Advisors reduced its stake in Firstmerit Corp by 0.78% during the most recent quarter end. The investment management company now holds a total of 405,690 shares of Firstmerit Corp which is valued at $8,616,856 after selling 3,200 shares in Firstmerit Corp , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Firstmerit Corp makes up approximately 2.27% of Stieven Capital Advisors’s portfolio.

Other Hedge Funds, Including , Yakira Capital Management boosted its stake in FMER in the latest quarter, The investment management firm added 169,648 additional shares and now holds a total of 306,277 shares of Firstmerit Corp which is valued at $6,505,323. Firstmerit Corp makes up approx 2.48% of Yakira Capital Management’s portfolio. Sequoia Financial Advisors sold out all of its stake in FMER during the most recent quarter. The investment firm sold 9,644 shares of FMER which is valued $204,742.

On the company’s financial health, Firstmerit Corp reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.33.Analysts expectations of $ 257.30.During the same quarter in the previous year, the company posted $0.33 EPS.

FirstMerit Corporation is a bank holding company. The Company’s business consists of owning and supervising its affiliates. The Company operates primarily through the Bank and its other subsidiaries providing a range of banking fiduciary financial insurance and investment services to corporate institutional and individual customers. It operates in four segments: Commercial Retail Wealth and Other. The Commercial segment provides a range of lending depository and related financial services. The Retail segment includes consumer lending and deposit gathering residential mortgage loan origination and servicing and branch-based small business banking. The Wealth segment offers an array of asset management private banking financial planning estate settlement and administration credit and deposit products and services. The Other segment includes activities of the parent company eliminations companies community development operations and the treasury group.

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