First Commonwealth Financial Corporation (NYSE:FCF) Rating Reiterated by FBR & Co

FBR & Co restated their neutral rating on shares of First Commonwealth Financial Corporation (NYSE:FCF) in a report issued on Friday, October 27th. They currently have a $14.00 price objective on the bank’s stock. FBR & Co also issued estimates for First Commonwealth Financial Corporation’s FY2017 earnings at $0.83 EPS, Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.23 EPS, Q3 2019 earnings at $0.23 EPS and FY2019 earnings at $0.90 EPS.

“First Commonwealth reported good 3Q17 results that beat both FBR and consensus estimates due to lower credit costs. FCF showcased its asset sensitivity this quarter, with 7bps of NIM expansion from the June rate hike that offset stable loan balances. NIM expansion from future Fed hikes, accretion from the DCB acquisition, and ongoing efficiency initiatives should continue to support earnings growth, but loan growth appears limited due to C&I headwinds.”,” FBR & Co’s analyst wrote.

Other analysts have also recently issued reports about the stock. Raymond James Financial, Inc. decreased their target price on shares of First Commonwealth Financial Corporation from C$4.50 to C$3.75 and set an outperform rating on the stock in a research report on Wednesday, August 30th. Keefe, Bruyette & Woods restated a hold rating and set a $14.00 target price on shares of First Commonwealth Financial Corporation in a research report on Wednesday, October 4th. Zacks Investment Research cut shares of First Commonwealth Financial Corporation from a buy rating to a hold rating in a research report on Monday, September 4th. Royal Bank Of Canada started coverage on shares of First Commonwealth Financial Corporation in a research report on Monday, July 17th. They set an outperform rating and a $14.00 target price on the stock. Finally, Canaccord Genuity decreased their target price on shares of First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a buy rating on the stock in a research report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $9.96.

Shares of First Commonwealth Financial Corporation (FCF) traded down $0.02 during mid-day trading on Friday, reaching $14.14. 505,200 shares of the company’s stock traded hands, compared to its average volume of 441,319. The stock has a market cap of $1,380.02, a PE ratio of 17.06 and a beta of 0.97. First Commonwealth Financial Corporation has a 1-year low of $11.22 and a 1-year high of $14.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.86.

First Commonwealth Financial Corporation (NYSE:FCF) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $80.46 million for the quarter, compared to analysts’ expectations of $79.29 million. First Commonwealth Financial Corporation had a net margin of 21.96% and a return on equity of 9.53%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. research analysts forecast that First Commonwealth Financial Corporation will post 0.82 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.32 annualized dividend and a yield of 2.26%. First Commonwealth Financial Corporation’s payout ratio is 43.24%.

A number of large investors have recently modified their holdings of FCF. BlackRock Inc. grew its holdings in First Commonwealth Financial Corporation by 45,299.4% during the 1st quarter. BlackRock Inc. now owns 10,979,393 shares of the bank’s stock valued at $145,588,000 after purchasing an additional 10,955,209 shares during the last quarter. Vanguard Group Inc. grew its holdings in First Commonwealth Financial Corporation by 10.0% during the 1st quarter. Vanguard Group Inc. now owns 8,687,245 shares of the bank’s stock valued at $115,193,000 after purchasing an additional 792,067 shares during the last quarter. State Street Corp grew its holdings in First Commonwealth Financial Corporation by 14.5% during the 1st quarter. State Street Corp now owns 3,001,842 shares of the bank’s stock valued at $39,802,000 after purchasing an additional 379,322 shares during the last quarter. Citadel Advisors LLC bought a new position in First Commonwealth Financial Corporation during the 2nd quarter valued at about $3,416,000. Finally, Koch Industries Inc. bought a new position in First Commonwealth Financial Corporation during the 2nd quarter valued at about $201,000. Institutional investors own 63.49% of the company’s stock.

First Commonwealth Financial Corporation Company Profile

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

Analyst Recommendations for First Commonwealth Financial Corporation (NYSE:FCF)

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