FirstMerit Corp (FMER) Misses Q1 EPS by 5c

FirstMerit Corp (NASDAQ: FMER) reported Q1 EPS of $0.31, $0.05 worse than the analyst estimate of $0.36.

Quarterly Highlights include:

• Profitability Sustained: 60th consecutive quarter of profitability.
• Organic growth continued: Total loan growth of $307.6 million, or 2.15% from the prior quarter.
• Credit quality remained solid: Net charge-offs to average originated loans of 0.31%; nonperforming assets as a percent of period end originated loans plus other real estate at 0.58%.
• Balance sheet remained strong: Strong tangible common equity ratio at 7.69%.

For earnings history and earnings-related data on FirstMerit Corp (FMER) click here.

You May Also Be Interested In

• Jefferies sees a buying opportunity in this S&P 500 sector
• Benchmark Reiterates Buy Rating on Jumia Technologies (JMIA)
• Wolfe Research upgrades Biogen, AbbVie on pipeline strength and valuation