ValuEngine upgraded shares of First Commonwealth Financial (NYSE:FCF) from a sell rating to a hold rating in a research note published on Monday, February 4th.
A number of other research firms have also recently weighed in on FCF. Zacks Investment Research cut shares of First Commonwealth Financial from a hold rating to a sell rating in a research note on Monday, December 31st. Raymond James reissued a hold rating on shares of First Commonwealth Financial in a research note on Tuesday, December 11th. Sandler O’Neill raised shares of First Commonwealth Financial from a hold rating to a buy rating in a research note on Thursday, October 25th. Boenning Scattergood raised shares of First Commonwealth Financial from a neutral rating to an outperform rating and set a $14.00 price objective on the stock in a research note on Thursday, October 25th. Finally, B. Riley raised shares of First Commonwealth Financial from a neutral rating to a buy rating and decreased their price objective for the stock from $18.00 to $16.00 in a research note on Thursday, November 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $16.20.
NYSE FCF traded down $0.05 on Monday, reaching $14.01. The company’s stock had a trading volume of 245,601 shares, compared to its average volume of 376,393. The stock has a market cap of $1.42 billion, a P/E ratio of 12.74, a PEG ratio of 1.62 and a beta of 1.17. First Commonwealth Financial has a 52 week low of $11.33 and a 52 week high of $17.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.19.
First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, January 29th. The bank reported $0.27 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.27. The business had revenue of $85.58 million for the quarter, compared to analysts’ expectations of $84.90 million. First Commonwealth Financial had a net margin of 28.22% and a return on equity of 11.43%. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Research analysts anticipate that First Commonwealth Financial will post 1.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Friday, February 8th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.86%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, February 7th. First Commonwealth Financial’s dividend payout ratio is currently 36.36%.
In other news, Director Luke A. Latimer acquired 8,000 shares of the firm’s stock in a transaction on Tuesday, December 18th. The shares were purchased at an average cost of $12.24 per share, with a total value of $97,920.00. Following the completion of the purchase, the director now owns 145,918 shares of the company’s stock, valued at $1,786,036.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.42% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in shares of First Commonwealth Financial by 7.8% during the fourth quarter. Nordea Investment Management AB now owns 293,438 shares of the bank’s stock worth $3,544,000 after purchasing an additional 21,137 shares in the last quarter. Millennium Management LLC lifted its position in shares of First Commonwealth Financial by 238.5% during the fourth quarter. Millennium Management LLC now owns 181,302 shares of the bank’s stock worth $2,190,000 after purchasing an additional 127,737 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of First Commonwealth Financial during the fourth quarter worth approximately $422,000. Metropolitan Life Insurance Co. NY lifted its position in shares of First Commonwealth Financial by 371.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 32,303 shares of the bank’s stock worth $390,000 after purchasing an additional 25,450 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of First Commonwealth Financial by 800.0% during the fourth quarter. Squarepoint Ops LLC now owns 119,257 shares of the bank’s stock worth $1,441,000 after purchasing an additional 106,006 shares in the last quarter. Institutional investors own 69.66% of the company’s stock.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (ATM) services, as well as Internet, mobile, and telephone banking services.
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