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FirstMerit Corporation Message Board

  • ballerfor3 ballerfor3 Feb 2, 2011 8:07 AM Flag

    Why down after earnings?

    i know they missed by .02. can't find cc transcript. know they had increase in expenses but overall had good year. seems cheap anywhere in the 17s

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    • Major institutions, own 75% of the shares, and are losing confidence in management’s ability to grow the bank thought the strategy outlined in yesterday's conference call. The strategy needs to be to sell the bank to a larger player as opposed to reinventing the wheel through infrastructure investment, including people. The expense ratio is way too high for a bank with minimal organic growth. The deals via acquisition that the CEO is seeking do not exist and it doesn’t appear that there is a viable backup plan if these deals don’t materialize. As the price of this stock comes down I believe FMER will become an attractive target for a larger player like HBAN, KEY, FITB or USB. In this scenario the FMER CEO will require cover via a leadership role within the acquiring institution and this will be a high hurdle to overcome due to my understand that the CEO is a very polarizing figure.

      • 1 Reply to ohbankinvestor
      • Thanks for your comments ohinvestor i was wondering the same thing. i live in ohio and bank with fmer and they always seem great in customer service and think that they're expansion into Chicago area should serve the company well over the long haul. What price do you think the buyout would occur? hard to imagine they'd pay anymore than $20 a share considering fair market value

 
FMER
18.38-0.01(-0.05%)11:51 AMEST

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