First Commonwealth Financial (NYSE:FCF) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.
Several other analysts have also recently commented on FCF. Zacks Investment Research cut shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 14th. Raymond James Financial, Inc. reissued an “outperform” rating and set a C$4.50 price objective on shares of First Commonwealth Financial in a research note on Wednesday, March 1st. FBR & Co reissued a “hold” rating on shares of First Commonwealth Financial in a research note on Wednesday, April 26th. Finally, Canaccord Genuity cut shares of First Commonwealth Financial from a “buy” rating to a “speculative buy” rating and lowered their price objective for the company from C$4.50 to C$4.25 in a research note on Monday, May 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $8.67.
Shares of First Commonwealth Financial (NYSE:FCF) traded up 2.90% on Friday, reaching $13.14. The company had a trading volume of 1,589,759 shares. The firm has a 50-day moving average price of $12.75 and a 200 day moving average price of $13.38. First Commonwealth Financial has a 1-year low of $8.46 and a 1-year high of $14.61. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 18.53 and a beta of 0.96.
First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, April 25th. The bank reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm had revenue of $68.76 million during the quarter, compared to analysts’ expectations of $69.45 million. First Commonwealth Financial had a net margin of 21.11% and a return on equity of 8.27%. During the same period in the previous year, the company earned $0.14 EPS. Equities research analysts predict that First Commonwealth Financial will post $0.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Friday, May 5th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, May 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.44%. First Commonwealth Financial’s dividend payout ratio (DPR) is 47.76%.
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In other First Commonwealth Financial news, Director Bart E. Johnson purchased 3,267 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average cost of $12.88 per share, with a total value of $42,078.96. Following the transaction, the director now owns 52,220 shares in the company, valued at $672,593.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen Reid purchased 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The shares were acquired at an average cost of $3.36 per share, with a total value of $100,800.00. Over the last ninety days, insiders have purchased 101,270 shares of company stock valued at $369,774. 1.58% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of First Commonwealth Financial by 45,299.4% in the first quarter. BlackRock Inc. now owns 10,979,393 shares of the bank’s stock worth $145,588,000 after buying an additional 10,955,209 shares in the last quarter. Vanguard Group Inc. raised its position in shares of First Commonwealth Financial by 10.0% in the first quarter. Vanguard Group Inc. now owns 8,687,245 shares of the bank’s stock worth $115,193,000 after buying an additional 792,067 shares in the last quarter. State Street Corp raised its position in shares of First Commonwealth Financial by 14.5% in the first quarter. State Street Corp now owns 3,001,842 shares of the bank’s stock worth $39,802,000 after buying an additional 379,322 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of First Commonwealth Financial by 33.3% in the first quarter. Bank of New York Mellon Corp now owns 1,813,596 shares of the bank’s stock worth $24,049,000 after buying an additional 453,031 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of First Commonwealth Financial by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 1,186,120 shares of the bank’s stock worth $16,819,000 after buying an additional 16,307 shares in the last quarter. 62.05% of the stock is owned by hedge funds and other institutional investors.
First Commonwealth Financial Company Profile
First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.
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