First Commonwealth Financial Co. (NYSE:FCF) has been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $13.88.
A number of analysts have recently commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating on shares of First Commonwealth Financial in a research report on Wednesday, July 28th. B. Riley lowered their price target on First Commonwealth Financial from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, August 2nd. Finally, Zacks Investment Research raised First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, August 3rd.
Hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new stake in shares of First Commonwealth Financial in the 1st quarter valued at $27,000. Eaton Vance Management purchased a new stake in First Commonwealth Financial during the 1st quarter worth about $33,000. Berman Capital Advisors LLC increased its holdings in First Commonwealth Financial by 204.2% during the 1st quarter. Berman Capital Advisors LLC now owns 2,844 shares of the bank’s stock worth $40,000 after purchasing an additional 1,909 shares during the period. USA Financial Portformulas Corp purchased a new stake in First Commonwealth Financial during the 2nd quarter worth about $60,000. Finally, Quantbot Technologies LP purchased a new stake in First Commonwealth Financial during the 1st quarter worth about $88,000. Hedge funds and other institutional investors own 68.07% of the company’s stock.
First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Monday, July 26th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The company had revenue of $94.29 million for the quarter, compared to analysts’ expectations of $93.85 million. First Commonwealth Financial had a net margin of 28.58% and a return on equity of 11.03%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, research analysts predict that First Commonwealth Financial will post 1.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Friday, August 6th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, August 5th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 56.79%.
First Commonwealth Financial Company Profile
First Commonwealth Financial Corp. is a financial holding company, which engages in the provision of a diversified array of consumer and commercial banking services through its bank subsidiary, First Commonwealth Bank (FCB). It also offers trust and wealth management services and offer insurance products through FCB and its other operating subsidiaries.
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