BidaskClub upgraded shares of First Commonwealth Financial (NYSE:FCF) from a sell rating to a hold rating in a research report released on Saturday.
Several other analysts have also recently issued reports on the company. Canaccord Genuity upgraded First Commonwealth Financial from a speculative buy rating to a buy rating and set a C$4.25 target price for the company in a research report on Thursday, June 1st. Zacks Investment Research cut First Commonwealth Financial from a buy rating to a hold rating in a research report on Tuesday, May 16th. FBR & Co reiterated a hold rating on shares of First Commonwealth Financial in a research report on Wednesday, April 26th. Finally, Raymond James Financial, Inc. reiterated an outperform rating and set a C$4.50 target price on shares of First Commonwealth Financial in a research report on Wednesday, March 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. First Commonwealth Financial has a consensus rating of Hold and an average price target of $8.67.
Shares of First Commonwealth Financial (NYSE FCF) traded up 2.90% on Friday, hitting $13.14. The stock 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 52 week low of $8.46 and a 52 week high of $14.61. The stock has a market capitalization of $1.17 billion, a P/E 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. First Commonwealth Financial had a return on equity of 8.27% and a net margin of 21.11%. The firm had revenue of $68.76 million during the quarter, compared to analysts’ expectations of $69.45 million. During the same quarter last year, the business posted $0.14 earnings per share. Equities analysts expect that First Commonwealth Financial will post $0.77 earnings per share for the current fiscal year.
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The firm also recently announced 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. This represents a $0.32 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Wednesday, May 3rd. First Commonwealth Financial’s dividend payout ratio is currently 47.76%.
In other First Commonwealth Financial news, Director Stephen Reid bought 35,700 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average price of $3.35 per share, for a total transaction of $119,595.00. Also, Director Bart E. Johnson bought 3,267 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average price of $12.88 per share, with a total value of $42,078.96. Following the transaction, the director now directly owns 52,220 shares of the company’s stock, valued at approximately $672,593.60. The disclosure for this purchase can be found here. Insiders have purchased 101,270 shares of company stock valued at $369,774 in the last quarter. 1.58% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in FCF. Russell Investments Group Ltd. purchased a new position in First Commonwealth Financial during the fourth quarter valued at $6,803,000. Comerica Bank boosted its position in First Commonwealth Financial by 5.7% in the fourth quarter. Comerica Bank now owns 94,736 shares of the bank’s stock valued at $1,333,000 after buying an additional 5,128 shares in the last quarter. State Street Corp boosted its position in First Commonwealth Financial by 5.0% in the fourth quarter. State Street Corp now owns 2,622,520 shares of the bank’s stock valued at $37,183,000 after buying an additional 124,402 shares in the last quarter. Renaissance Technologies LLC boosted its position in First Commonwealth Financial by 24.4% in the fourth quarter. Renaissance Technologies LLC now owns 996,700 shares of the bank’s stock valued at $14,133,000 after buying an additional 195,500 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new position in First Commonwealth Financial during the fourth quarter valued at $554,000. Institutional investors and hedge funds own 62.05% of the company’s stock.
About First Commonwealth Financial
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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