First Commonwealth Financial research analysts began covering First Commonwealth Financial on Wednesday with a company performance report that was made available that day (NYSE: FCF). As a result, the shares of the financial institution were given a “Hold” rating by the brokerage firm.
Since the publication of the last report, more and more stock analysts have given their opinion on the company’s shares. The release of a research report on Thursday, September 29 by Janney Montgomery Scott marked the start of equity investment firm First Commonwealth Financial’s coverage. They suggested making a “buy” investment in the business, and they suggested that the price target be set at $16.00. In a research note published Oct. 5, Piper Sandler said she had lowered her price target on First Commonwealth Financial shares to $15.00. Piper Sandler’s memo was posted online. B. Riley’s price target for First Commonwealth Financial has risen from $16.00 to $17.00, as reported in a research report released Aug. 1. In a research report released July 27, DA Davidson reaffirmed its “buy” rating on the stock. of First Commonwealth Financial in a research report.
Finally, in a research report made publicly available on Tuesday, September 6, Raymond James lowered his price target on First Commonwealth Financial shares from $17.00 to $16.00 while maintaining his rating of ” outperformance” on the company. Five of the equity research professionals gave the stock a buy rating, while only three of the experts gave it a hold rating. According to information from Bloomberg.com, the current consensus recommendation for the company is “Moderate Buy” and the current consensus recommendation for its target price is $16.42 per share.
On Wednesday morning, the price of a share of FCF was $13.38 at the start of trading. The company’s current market capitalization is $1.25 billion, its price-earnings ratio is 9.91, and its beta value is 0.97. Over the past 52 weeks, the price of a share of First Commonwealth Financial has fluctuated between a low of $12.76 and a high of $17.63. The company’s stock price is currently trading at a 50-day moving average of $13.91 and a 200-day moving average of $13.94. The debt ratio is 0.17, the current ratio is 0.90 and the quick ratio is also 0.90. The debt ratio, the current ratio and the quick ratio all add up to 0.90.
On July 26, shareholders of First Commonwealth Financial (NYSE: FCF) had access to the company’s latest quarterly earnings report. The bank reported quarterly earnings per share of $0.33, which market analysts had expected the bank to release. The company was expected to achieve sales of $98.20 million for the quarter, but instead they came in at $98.17 million. This is a significant decrease from the projection. First, Commonwealth Financial’s return on equity was 11.74%, while the company’s net margin was 32.04%. During the same period as the previous year, the company recorded a profit of $0.31 for each common share issued. According to market analyst projections, First Commonwealth Financial is expected to generate earnings of $1.39 per share over market analyst projections.
Recent events have caused a shift in the percentage of the company owned by institutional investors and hedge funds. The change in ownership percentage caused this change. During the second quarter, First Commonwealth Financial contributed $63,000 towards the purchase of a new stake in First Commonwealth Financial. This investment has been made. In the first three months of the year, Israel completed the acquisition of a new stake in First Commonwealth Financial for $76,000. KBC Group NV increased its stake in First Commonwealth Financial by acquiring a new stake in exchange for an additional investment of $92,000 during the second quarter. Captrust Financial Advisors increased the number of shares held by First Commonwealth Financial by 59.3% in the first three months of the year. Since the company bought an additional 3,233 shares in the last quarter, Captrust Financial Advisors currently owns 8,689 shares of the bank, with a total value of $132,000. This is the result of the company purchasing additional shares during the previous quarter. In the second quarter, Verition Fund Management LLC spent $136,000 to increase the number of shares held by First Commonwealth Financial. This was the last and most important point to emphasize. Institutional investors and hedge funds currently own 70.36% of the company’s shares.
The financial holding company, First Commonwealth Financial Corporation, in the United States, provides a wide range of retail and commercial banking services. These services can be used for a variety of banking needs. Customer services include safes, credit cards, lines of credit that cover overdrafts on checking accounts, Individual Retirement Accounts (IRA), interest-paying checking accounts, savings accounts and health savings, insured money market accounts, debit cards, investment certificates, fixed accounts and floating rate certificates of deposit, mortgages, secured and unsecured installment loans, construction and real estate loans and ATMs. IRAs are individual retirement accounts. Verification of accounts that earn interest. Savings and health savings accounts. Verification of accounts that earn interest. Savings and health savings accounts.