Shares of First Commonwealth Financial Corporation (NYSE:FCF – Get Free Report) have earned a consensus rating of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $18.90.
Separately, Wall Street Zen raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd.
Get First Commonwealth Financial alerts:
View Our Latest Stock Analysis on First Commonwealth Financial
Insider Buying and Selling at First Commonwealth Financial
In related news, EVP Michael P. Mccuen acquired 2,826 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $17.67 per share, with a total value of $49,935.42. Following the acquisition, the executive vice president owned 59,021 shares of the company’s stock, valued at approximately $1,042,901.07. The trade was a 5.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James R. Reske sold 2,190 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $17.74, for a total transaction of $38,850.60. Following the completion of the transaction, the chief financial officer owned 88,056 shares of the company’s stock, valued at $1,562,113.44. This trade represents a 2.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.17% of the company’s stock.
Hedge Funds Weigh In On First Commonwealth Financial
A number of large investors have recently modified their holdings of FCF. State Street Corp lifted its position in First Commonwealth Financial by 2.4% in the 2nd quarter. State Street Corp now owns 4,734,957 shares of the bank’s stock worth $76,848,000 after buying an additional 112,731 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of First Commonwealth Financial by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,159,706 shares of the bank’s stock worth $64,642,000 after acquiring an additional 203,052 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of First Commonwealth Financial by 22.5% in the 2nd quarter. Franklin Resources Inc. now owns 3,922,543 shares of the bank’s stock worth $63,663,000 after acquiring an additional 719,680 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of First Commonwealth Financial by 67.6% in the 2nd quarter. First Trust Advisors LP now owns 3,597,925 shares of the bank’s stock valued at $58,394,000 after purchasing an additional 1,451,544 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of First Commonwealth Financial by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,528,250 shares of the bank’s stock valued at $41,039,000 after purchasing an additional 56,324 shares in the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.
First Commonwealth Financial Trading Down 1.6%
Shares of FCF stock opened at $17.12 on Friday. The company has a market capitalization of $1.79 billion, a PE ratio of 13.17 and a beta of 0.85. First Commonwealth Financial has a 52-week low of $13.54 and a 52-week high of $19.96. The business’s fifty day moving average is $17.12 and its 200 day moving average is $16.18. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.93.
First Commonwealth Financial (NYSE:FCF – Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. First Commonwealth Financial had a return on equity of 9.71% and a net margin of 18.94%.The business had revenue of $131.33 million during the quarter, compared to analysts’ expectations of $125.88 million. During the same period in the previous year, the business earned $0.37 earnings per share. On average, equities research analysts anticipate that First Commonwealth Financial will post 1.45 EPS for the current fiscal year.
First Commonwealth Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.2%. First Commonwealth Financial’s dividend payout ratio is presently 41.54%.
About First Commonwealth Financial
(Get Free Report)
First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health 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.
Featured Stories
Five stocks we like better than First Commonwealth Financial
How to start investing in penny stocks
Tesla Earnings Loom: Bulls Eye $600, Bears Warn of $300
3 Natural Gas Stocks That Offer Great Dividend Yields
Cathie Wood Buys Alibaba and Baidu: Momentum or More Value Ahead?
What Are the FAANG Stocks and Are They Good Investments?
This ETF Weeds Out Small-Cap Underperformers