According to Zacks, “First Commonwealth Financial Corporation is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended. The Corporation operates two chartered banks, First Commonwealth Bank and Southwest Bank. Personal financial planning and other financial services and insurance products are also provided through First Commonwealth Trust Company and First Commonwealth Insurance Agency. The Corporation also operates through Commonwealth Systems Corporation, a data processing subsidiary. “
FCF has been the subject of several other research reports. DA Davidson cut their target price on First Commonwealth Financial from $10.00 to $9.00 and set a neutral rating for the company in a research note on Thursday, April 30th. Piper Sandler downgraded First Commonwealth Financial from an overweight rating to a neutral rating and dropped their price target for the company from $11.00 to $10.00 in a research report on Friday, May 1st. ValuEngine downgraded First Commonwealth Financial from a hold rating to a sell rating in a research report on Friday, April 3rd. B. Riley downgraded First Commonwealth Financial from a buy rating to a neutral rating and dropped their price target for the company from $16.00 to $9.00 in a research report on Wednesday, March 25th. Finally, Royal Bank of Canada downgraded First Commonwealth Financial from an outperform rating to a sector perform rating and dropped their price target for the company from $12.00 to $9.00 in a research report on Wednesday, May 13th. Six research analysts have rated the stock with a hold rating, First Commonwealth Financial has a consensus rating of Hold and an average target price of $10.40.
Shares of NYSE FCF opened at $7.62 on Tuesday. First Commonwealth Financial has a 52 week low of $6.77 and a 52 week high of $14.93. The business has a 50-day simple moving average of $8.10 and a two-hundred day simple moving average of $10.87. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. The company has a market cap of $753.67 million, a P/E ratio of 8.76 and a beta of 1.09.
First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, April 28th. The bank reported $0.05 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.14). First Commonwealth Financial had a return on equity of 8.46% and a net margin of 20.80%. The company had revenue of $87.00 million during the quarter, compared to the consensus estimate of $89.07 million. During the same quarter in the prior year, the business earned $0.25 EPS. Equities research analysts anticipate that First Commonwealth Financial will post 0.61 EPS for the current year.
In other news, EVP Matthew C. Tomb acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $6.93 per share, with a total value of $27,720.00. Following the acquisition, the executive vice president now owns 63,647 shares in the company, valued at approximately $441,073.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.53% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of First Commonwealth Financial by 6.0% during the 1st quarter. State Street Corp now owns 3,420,357 shares of the bank’s stock valued at $31,262,000 after buying an additional 194,156 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of First Commonwealth Financial by 7.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,055,077 shares of the bank’s stock valued at $18,784,000 after buying an additional 139,320 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of First Commonwealth Financial by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,587,179 shares of the bank’s stock valued at $23,030,000 after buying an additional 128,811 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of First Commonwealth Financial by 6.6% during the 1st quarter. Geode Capital Management LLC now owns 1,380,069 shares of the bank’s stock valued at $12,613,000 after buying an additional 85,247 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of First Commonwealth Financial during the 4th quarter valued at about $18,697,000. 68.03% of the stock is currently owned by institutional investors.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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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