Insurance Technology Industry News

TMCNet:  Upgrade Alert for FirstMerit (FMER)

[January 09, 2013]

Upgrade Alert for FirstMerit (FMER)

Jan 09, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- FirstMerit (NASDAQ:FMER) was upgraded from Perform to Outperform at Oppenheimer today. The stock closed yesterday at $15.00 on volume of 1.3 million shares, above average daily volume of 1.1 million. Potential upside of 5.9% exists for FirstMerit, based on a current level of $15.00 and analysts' average consensus price target of $15.89. FirstMerit shares should encounter resistance at the 200-day moving average (MA) of $15.44 and support at the 50-day MA of $14.03.

FirstMerit Corporation operates primarily as a multi-bank holding company. The Banks attract deposits, originate loans, and provide other banking services. The Company's non-banking subsidiaries provide securities brokerage, trust, equipment lease financing, insurance, and other services. FirstMerit operates in Ohio.

In the past 52 weeks, shares of FirstMerit have traded between a low of $12.95 and a high of $17.50 and closed yesterday at $15.00, which is 16% above that low price. The 200-day and 50-day moving averages have moved 0.2% lower and 0.43% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in FirstMerit. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of FirstMerit in search of a potential trend change.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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