StockNews.com upgraded shares of First Commonwealth Financial (NYSE:FCF – Free Report) from a sell rating to a hold rating in a report issued on Wednesday.
A number of other analysts have also recently weighed in on FCF. Keefe, Bruyette & Woods raised their price target on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler cut their target price on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.70.
View Our Latest Report on First Commonwealth Financial
First Commonwealth Financial Stock Performance
First Commonwealth Financial (NYSE:FCF – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The firm had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. During the same quarter last year, the firm earned $0.39 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that First Commonwealth Financial will post 1.4 EPS for the current fiscal year.
First Commonwealth Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, November 8th. First Commonwealth Financial’s payout ratio is 35.14%.
Institutional Trading of First Commonwealth Financial
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in First Commonwealth Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock worth $96,503,000 after buying an additional 233,955 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of First Commonwealth Financial by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after acquiring an additional 105,116 shares during the last quarter. Franklin Resources Inc. grew its position in shares of First Commonwealth Financial by 15.3% during the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after acquiring an additional 456,119 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of First Commonwealth Financial by 29.9% in the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock valued at $23,107,000 after acquiring an additional 384,892 shares during the period. Finally, Bank of New York Mellon Corp raised its position in First Commonwealth Financial by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock valued at $16,702,000 after purchasing an additional 33,759 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.
First Commonwealth Financial Company Profile
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.
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