First Commonwealth Financial Co. (NYSE: FCF – Get a rating) – B. Riley analysts raised their fourth quarter 2022 earnings per share (EPS) estimates for shares of First Commonwealth Financial in a research note released to investors on Monday, July 11. B. Riley analyst S. Moss now expects the bank to post earnings per share of $0.49 for the quarter, up from its previous forecast of $0.36. First Commonwealth Financial’s current annual earnings consensus estimate is $1.36 per share.
Several other brokerages have also recently released reports on FCF. StockNews.com began covering First Commonwealth Financial in a research report on Thursday, March 31. They issued a “holding” rating for the company. Raymond James upgraded First Commonwealth Financial from an “outperforming” rating to a “market performance” rating in a Thursday July 7 research note. Four investment analysts gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat, First Commonwealth Financial currently has a consensus rating of “Hold” and an average target price of $17.50.
First Commonwealth Financial Action opened at $13.35 on Wednesday. The company has a 50-day simple moving average of $13.53 and a 200-day simple moving average of $15.00. The company has a debt ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. First Commonwealth Financial has a one-year low of $12.36 and a one-year high of $17.63. The company has a market capitalization of $1.26 billion, a PE ratio of 10.04 and a beta of 1.00.
First Commonwealth Financial (NYSE: FCF – Get a rating) last reported results on Tuesday, April 26. The bank reported EPS of $0.29 for the quarter, missing the consensus estimate of $0.30 per ($0.01). The company posted revenue of $92.15 million for the quarter, versus a consensus estimate of $93.91 million. First Commonwealth Financial had a return on equity of 11.51% and a net margin of 32.00%. First Commonwealth Financial’s quarterly revenues were down 4.8% from the same quarter last year. In the same quarter last year, the company achieved EPS of $0.41.
The company also recently disclosed 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. The ex-dividend date was Thursday, May 5. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.12. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 3.60%. First Commonwealth Financial’s payout ratio is 36.09%.
A number of large investors have recently bought and sold shares of the company. The Alaska State Department of Revenue increased its stake in First Commonwealth Financial by 8.8% in the second quarter. The Alaska State Department of Revenue now owns 71,347 shares of the bank valued at $957,000 after acquiring an additional 5,800 shares during the period. Jane Street Group LLC acquired a new position in First Commonwealth Financial in the first quarter worth approximately $866,000. Dynamic Technology Lab Private Ltd acquired a new position in First Commonwealth Financial in the first quarter worth approximately $235,000. Captrust Financial Advisors increased its stake 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 acquiring 3,233 additional shares during the period. Finally, 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 acquiring an additional 524,228 shares during the period. 68.56% of the shares are held by hedge funds and other institutional investors.
About First Commonwealth Financial (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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