First Commonwealth Financial Co. (NYSE:FCF) Receives Average “Moderate Buy” Rating from Brokerages
First Commonwealth Financial Co. (NYSE: FCF – Get a rating) received an average recommendation of “moderate buy” by the seven research companies that currently cover the stock, reports MarketBeat.com. Three investment analysts rated the stock with a hold recommendation and three gave the company a buy recommendation. The 12-month average target price among analysts who have covered the stock over the past year is $17.13.
A number of equity research analysts have weighed in on the company recently. B. Riley raised his price target on First Commonwealth Financial from $16.00 to $17.00 in a Monday August 1 research note. Raymond James raised its price target on First Commonwealth Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a Monday (August 1) research report. DA Davidson reaffirmed a “buy” rating on First Commonwealth Financial shares in a Wednesday, July 27 research note. Finally, Stephens downgraded First Commonwealth Financial from an “overweight” rating to an “equally weighted” rating and set a target price of $15.50 for the company. in a research note from Wednesday, August 3.
Institutional entries and exits
Hedge funds have recently increased or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in First Commonwealth Financial in Q4 worth $27,000. Aaron Wealth Advisors LLC acquired a new position in First Commonwealth Financial in Q1 worth $263,000. Moisand Fitzgerald Tamayo LLC acquired a new position in First Commonwealth Financial in Q2 worth $63,000. Psagot Value Holdings Ltd. Israel acquired a new position in First Commonwealth Financial in Q1 worth $76,000. Finally, UMB Bank NA MO acquired a new position in First Commonwealth Financial in Q4 worth $89,000. 68.56% of the shares are held by institutional investors and hedge funds.
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NYSE FCF shares opened at $14.45 on Friday. First Commonwealth Financial has a 52-week low of $12.36 and a 52-week high of $17.63. The company has a market capitalization of $1.35 billion, a PE ratio of 10.70 and a beta of 1.01. The company’s 50-day moving average price is $14.20 and its 200-day moving average price is $14.52. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt ratio of 0.17.
First Commonwealth Financial (NYSE: FCF – Get a rating) last released its quarterly earnings data on Tuesday, July 26. The bank reported earnings per share of $0.33 for the quarter, matching the consensus estimate of $0.33. First Commonwealth Financial had a return on equity of 11.74% and a net margin of 32.04%. In the same period a year earlier, the company had earned earnings per share of $0.31. As a group, analysts expect First Commonwealth Financial to post EPS of 1.41 for the current year.
First Commonwealth Financial announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 19. Shareholders of record on Friday August 5 received a dividend of $0.12 per share. This represents an annualized dividend of $0.48 and a dividend yield of 3.32%. The ex-dividend date was Thursday August 4th. First Commonwealth Financial’s payout ratio is 35.56%.
About First Commonwealth Financial
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, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and ATM services ATMs, as well as internet, mobile and telephone banking.
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