Desjardins Initiates Coverage on First Commonwealth Financial Corp. (FCF)
Research analysts at Desjardins started coverage on shares of First Commonwealth Financial Corp. (NYSE:FCF) in a research note issued to investors on Tuesday. The firm set a “buy” rating and a C$4.75 price target on the stock.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered First Commonwealth Financial Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. Keefe, Bruyette & Woods reduced their price target on First Commonwealth Financial Corp. from $10.00 to $9.50 and set a “market perform” rating on the stock in a research report on Wednesday, September 21st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. First Commonwealth Financial Corp. presently has an average rating of “Hold” and a consensus target price of $8.88.
Shares of First Commonwealth Financial Corp. (NYSE:FCF) opened at 12.62 on Tuesday. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 21.76 and a beta of 0.85. The company has a 50-day moving average price of $10.72 and a 200-day moving average price of $9.88. First Commonwealth Financial Corp. has a 12 month low of $7.85 and a 12 month high of $12.81.
First Commonwealth Financial Corp. (NYSE:FCF) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. First Commonwealth Financial Corp. had a return on equity of 7.43% and a net margin of 18.77%. During the same period last year, the company posted $0.14 EPS. On average, analysts expect that First Commonwealth Financial Corp. will post $0.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Thursday, November 3rd. First Commonwealth Financial Corp.’s dividend payout ratio (DPR) is presently 48.28%.
Several large investors have recently modified their holdings of the company. Amalgamated Bank acquired a new stake in shares of First Commonwealth Financial Corp. during the second quarter valued at $104,000. Swiss National Bank increased its position in First Commonwealth Financial Corp. by 1.7% in the second quarter. Swiss National Bank now owns 157,500 shares of the company’s stock worth $1,449,000 after buying an additional 2,700 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in First Commonwealth Financial Corp. during the second quarter worth about $4,247,000. IFP Advisors Inc increased its position in First Commonwealth Financial Corp. by 4.9% in the second quarter. IFP Advisors Inc now owns 20,058 shares of the company’s stock worth $185,000 after buying an additional 943 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in First Commonwealth Financial Corp. by 4.0% in the second quarter. Victory Capital Management Inc. now owns 2,561,124 shares of the company’s stock worth $23,562,000 after buying an additional 98,199 shares in the last quarter. 61.29% of the stock is currently owned by institutional investors and hedge funds.
About First Commonwealth Financial Corp.
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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