First Commonwealth Financial Co. (NYSE: FCF – Get a rating) – Equity research analysts DA Davidson released their earnings per share (EPS) estimates for the fiscal year 2022 for First Commonwealth Financial in a report released Wednesday, July 27. DA Davidson analyst Navas predicts the bank will earn $1.34 per share for the year. DA Davidson has a “Buy” rating on the stock. First Commonwealth Financial’s current annual earnings consensus estimate is $1.41 per share. DA Davidson also released earnings estimates for First Commonwealth Financial for fiscal year 2023 at $1.56 EPS.
FCF has been the subject of a number of other reports. StockNews.com purported coverage from First Commonwealth Financial in a Thursday, March 31 research note. They have set a “holding” rating on the stock. Raymond James upgraded First Commonwealth Financial from an “outperforming” rating to a “market performing” rating in a Thursday July 7 research note. Finally, B. Riley reduced his price target on First Commonwealth Financial from $18.00 to $16.00 in a Monday July 11 research note. Three investment analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.
First Commonwealth Financial shares down 0.5%
FCF opened at $14.69 on Friday. The stock has a market capitalization of $1.39 billion, a PE ratio of 10.88 and a beta of 1.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt ratio of 0.17. First Commonwealth Financial has a 52-week low of $12.36 and a 52-week high of $17.63. The company’s 50-day simple moving average is $13.68 and its 200-day simple moving average is $14.81.
First Commonwealth Financial (NYSE: FCF – Get a rating) last released its results on Tuesday, July 26. The bank reported EPS of $0.33 for the quarter, meeting analyst consensus estimates of $0.33. First Commonwealth Financial had a return on equity of 11.61% and a net margin of 32.04%. During the same period of the previous year, the company achieved EPS of $0.31.
First Commonwealth Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19. Investors of record on Friday, August 5 will receive a dividend of $0.12. The ex-dividend date is Thursday August 4th. This represents an annualized dividend of $0.48 and a dividend yield of 3.27%. First Commonwealth Financial’s payout ratio is currently 35.56%.
First Commonwealth Financial Institutional Trading
Several large investors have recently changed their stake in the company. Marion Wealth Management bought a new stake in shares of First Commonwealth Financial in the second quarter worth about $215,000. Assenagon Asset Management SA increased its holdings in First Commonwealth Financial by 215.1% in the second quarter. Assenagon Asset Management SA now owns 444,013 shares in the bank worth $5,959,000 after purchasing an additional 303,121 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in First Commonwealth Financial in the second quarter worth approximately $360,000. Everence Capital Management Inc. acquired a new stake in First Commonwealth Financial in the second quarter worth approximately $222,000. Finally, KBC Group NV acquired a new stake in First Commonwealth Financial in the second quarter for a value of approximately $92,000. 68.56% of the shares are held by institutional investors.
Profile of the Commonwealth’s First Financial Corporation
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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