Shares of First Commonwealth Financial Co. (NYSE: FCF – Get a rating) have obtained a consensus buy recommendation from the seven rating agencies that currently cover the company, Market Beat Ratings reports. Three research analysts rated the stock with a hold recommendation and three gave the company a buy recommendation. The 12-month average price target among brokers who have reported on the stock over the past year is $18.33.
A number of research companies have published reports on FCF. StockNews.com began covering First Commonwealth Financial in a report on Thursday, March 31. They set a “holding” rating for the company. Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating and set a price target of $18.00 on the stock in a Wednesday, January 5, report. DA Davidson reiterated a “buy” rating on First Commonwealth Financial shares in a Thursday, January 27 research report. Finally, B. Riley cut his price target on First Commonwealth Financial from $19.00 to $18.00 in a Tuesday, April 12 research report.
Several hedge funds have recently bought and sold shares of FCF. SG Americas Securities LLC bought a new position in shares of First Commonwealth Financial in the third quarter worth $638,000. DA Davidson & CO. bought a new stake in shares of First Commonwealth Financial in Q4, valued at around $341,000. Franklin Resources Inc. bought a new stake in shares of First Commonwealth Financial in Q3, valued at around $460,000. Metropolitan Life Insurance Co NY increased its stake in First Commonwealth Financial by 9.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 24,282 shares of the bank valued at $331,000 after purchasing an additional 2,186 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in First Commonwealth Financial by 22.3% during the third quarter. New Jersey State Joint Pension Fund D now owns 201,287 shares of the bank valued at $2,744,000 after purchasing an additional 36,739 shares during the period. Institutional investors hold 67.70% of the company’s shares.
FCF opened at $14.43 on Monday. First Commonwealth Financial has a 12-month low of $12.36 and a 12-month high of $17.63. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt ratio of 0.16. The stock has a market capitalization of $1.36 billion, a PE ratio of 9.95 and a beta of 1.02. The company’s 50-day moving average is $15.44 and its 200-day moving average is $15.66.
First Commonwealth Financial (NYSE: FCF – Get a rating) last announced its quarterly results on Tuesday, January 25. The bank reported earnings per share of $0.37 for the quarter, beating analysts’ consensus estimate of $0.33 by $0.04. First Commonwealth Financial had a return on equity of 12.55% and a net margin of 34.51%. The company posted revenue of $96.33 million in the quarter, compared to $97.09 million expected by analysts. In the same quarter a year earlier, the company earned earnings per share of $0.27. The company’s quarterly revenue increased 2.3% from the same quarter last year. As a group, analysts expect First Commonwealth Financial to post EPS of 1.31 for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 18. Shareholders of record on Friday, February 4 received a dividend of $0.115. The ex-dividend date was Thursday, February 3. This represents an annualized dividend of $0.46 and a dividend yield of 3.19%. First Commonwealth Financial’s payout ratio is 31.72%.
Profile of the Commonwealth’s First Financial Corporation (Get a rating)
First Commonwealth Financial Corporation, a financial holding company, provides various retail and corporate banking services in the United States. Its consumer services include personal checking accounts, interest-bearing checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, interest rate certificates of deposit fixed and variable loans, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and automated teller machine (ATM) services ), as well as internet, mobile and telephone banking.
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