First Commonwealth Financial Co. (NYSE:FCF) has been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $13.88.
Several equities analysts have weighed in on the company. B. Riley dropped their price target on First Commonwealth Financial from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, August 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of First Commonwealth Financial in a research report on Wednesday, July 28th. Finally, Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, August 3rd.
A number of institutional investors have recently modified their holdings of FCF. Millennium Management LLC boosted its holdings in First Commonwealth Financial by 342.3% in the second quarter. Millennium Management LLC now owns 695,810 shares of the bank’s stock valued at $9,790,000 after acquiring an additional 538,511 shares during the last quarter. Bank of Montreal Can boosted its holdings in First Commonwealth Financial by 33.3% in the second quarter. Bank of Montreal Can now owns 1,332,877 shares of the bank’s stock valued at $18,740,000 after acquiring an additional 333,180 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in First Commonwealth Financial by 284.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 315,300 shares of the bank’s stock valued at $4,436,000 after acquiring an additional 233,300 shares during the last quarter. State Street Corp boosted its holdings in First Commonwealth Financial by 5.5% in the second quarter. State Street Corp now owns 4,299,936 shares of the bank’s stock valued at $60,500,000 after acquiring an additional 225,064 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in First Commonwealth Financial by 11.3% in the first quarter. JPMorgan Chase & Co. now owns 2,191,808 shares of the bank’s stock valued at $31,496,000 after acquiring an additional 223,082 shares during the last quarter. Hedge funds and other institutional investors own 68.07% of the company’s stock.
First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Monday, July 26th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The company had revenue of $94.29 million for the quarter, compared to analysts’ expectations of $93.85 million. First Commonwealth Financial had a return on equity of 11.03% and a net margin of 28.58%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. On average, analysts forecast that First Commonwealth Financial will post 1.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Friday, August 6th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, August 5th. First Commonwealth Financial’s dividend payout ratio (DPR) is 56.79%.
First Commonwealth Financial Company Profile
First Commonwealth Financial Corp. is a financial holding company, which engages in the provision of a diversified array of consumer and commercial banking services through its bank subsidiary, First Commonwealth Bank (FCB). It also offers trust and wealth management services and offer insurance products through FCB and its other operating subsidiaries.
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