First Commonwealth Financial Co. (NYSE:FCF) Receives Consensus “Buy” Recommendation from Analysts
Shares of First Commonwealth Financial Co. (NYSE: FCF – Get a rating) were given an average rating of “Hold” by the six research companies that cover the title, MarketBeat.com reports. Three equity research analysts rated the stock with a hold rating and two issued a buy rating on the company. The year-over-year average price target among brokerages that have updated their coverage on the stock over the past year is $18.50.
Several analysts have recently commented on the company. StockNews.com purported coverage from First Commonwealth Financial in a Thursday, March 31 research note. They issued a “holding” rating for the company. B. Riley lowered his price target on First Commonwealth Financial from $19.00 to $18.00 in a Tuesday, April 12 research note.
A number of hedge funds and other institutional investors have recently changed their positions in the company. Jane Street Group LLC bought a new position in First Commonwealth Financial during the first quarter worth $866,000. Dynamic Technology Lab Private Ltd bought a new position in First Commonwealth Financial during the first quarter worth $235,000. Captrust Financial Advisors increased its holdings in First Commonwealth Financial by 59.3% in the first quarter. Captrust Financial Advisors now owns 8,689 shares of the bank valued at $132,000 after buying 3,233 additional shares during the period. State Street Corp increased its stake in First Commonwealth Financial by 12.8% in the first quarter. State Street Corp now owns 4,611,897 shares of the bank valued at $69,916,000 after purchasing an additional 524,228 shares during the period. Finally, Psagot Value Holdings Ltd. Israel bought a new position in First Commonwealth Financial during the first quarter worth $76,000. 68.56% of the shares are held by institutional investors and hedge funds.
FCF Share opened at $13.13 on Tuesday. The stock’s 50-day simple moving average is $13.93 and its 200-day simple moving average is $15.28. First Commonwealth Financial has a fifty-two week low of $12.36 and a fifty-two week high of $17.63. The company has a debt ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $1.24 billion, a P/E ratio of 9.81 and a beta of 1.03.
First Commonwealth Financial (NYSE: FCF – Get a rating) last released its quarterly results on Tuesday, April 26. The bank reported earnings per share of $0.29 for the quarter, missing analyst consensus estimates of $0.30 per ($0.01). First Commonwealth Financial had a return on equity of 11.51% and a net margin of 32.00%. The company posted revenue of $92.15 million for the quarter, versus analyst estimates of $93.91 million. During the same period last year, the company posted earnings per share of $0.41. The company’s quarterly revenue fell 4.8% from the same quarter last year. Stock analysts predict First Commonwealth Financial will post 1.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 20. Investors of record on Friday, May 6 received a dividend of $0.12 per share. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 3.66%. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, May 5. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 36.09%.
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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