FirstMerit Corporation (FMER) is a smaller regional banking company that, due to its efficiency, is primed to be either a successful acquirer or takeover candidate, says Tom Mitchell, Senior Analyst at Miller Tabak + Co., LLC.
“Smaller companies like FirstMerit (FMER) and Huntington Bancshares (HBAN), both have had really excellent credit-management approaches,” Mitchell said. “They’re relatively small-capitalization, they’re both being run very efficiently; we think that they both could turn out to be very successful acquirers.”
FirstMerit‘s efficiency, credit management and management team also work in its favor to set them up as a prime takeover candidate, Mitchell says.
“Those qualities and characteristics could make them excellent takeover candidates either for foreign buyers, Canadian banks or larger U.S. banks that want more exposure to the Midwest,” said Mitchell.
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