First Commonwealth Financial Co. (NYSE:FCF) – Investment analysts at Piper Sandler lifted their FY2021 earnings per share (EPS) estimates for shares of First Commonwealth Financial in a note issued to investors on Wednesday, April 28th. Piper Sandler analyst F. Schiraldi now expects that the bank will post earnings of $1.28 per share for the year, up from their previous forecast of $0.99.
FCF has been the topic of several other research reports. Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research report on Friday. DA Davidson raised First Commonwealth Financial from a “neutral” rating to a “buy” rating in a report on Monday, January 11th. B. Riley upped their price objective on shares of First Commonwealth Financial from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, January 7th. Finally, Stephens began coverage on shares of First Commonwealth Financial in a research report on Tuesday, March 30th. They issued an “overweight” rating and a $16.50 price target on the stock. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. First Commonwealth Financial has a consensus rating of “Buy” and a consensus target price of $12.42.
Shares of FCF opened at $14.49 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $14.56 and its two-hundred day simple moving average is $12.00. First Commonwealth Financial has a 12 month low of $6.77 and a 12 month high of $15.56. The stock has a market capitalization of $1.39 billion, a P/E ratio of 19.07 and a beta of 1.13. First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, April 27th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.12. First Commonwealth Financial had a net margin of 18.68% and a return on equity of 7.42%. The firm had revenue of $96.80 million for the quarter, compared to analyst estimates of $95.98 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue was up 11.3% compared to the same quarter last year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, May 21st. Investors of record on Friday, May 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Thursday, May 6th. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.11. First Commonwealth Financial’s dividend payout ratio is 40.00%.
In other First Commonwealth Financial news, EVP Matthew C. Tomb sold 12,500 shares of the company’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $12.61, for a total value of $157,625.00. Also, EVP Brian G. Karrip sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 26th. The shares were sold at an average price of $13.69, for a total value of $109,520.00. Over the last three months, insiders sold 23,000 shares of company stock valued at $303,395. Insiders own 1.53% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FCF. Norges Bank bought a new stake in shares of First Commonwealth Financial during the 4th quarter valued at about $13,120,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in First Commonwealth Financial by 2,119.7% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 199,400 shares of the bank’s stock worth $2,181,000 after purchasing an additional 190,417 shares during the period. American International Group Inc. increased its stake in shares of First Commonwealth Financial by 115.1% during the fourth quarter. American International Group Inc. now owns 144,962 shares of the bank’s stock valued at $1,586,000 after purchasing an additional 77,562 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of First Commonwealth Financial by 43.6% during the fourth quarter. Victory Capital Management Inc. now owns 250,025 shares of the bank’s stock valued at $2,735,000 after purchasing an additional 75,889 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in shares of First Commonwealth Financial by 22.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 364,537 shares of the bank’s stock worth $3,988,000 after purchasing an additional 67,965 shares in the last quarter. 66.95% of the stock is owned by institutional investors and hedge funds.
About First Commonwealth Financial
First Commonwealth Financial Corporation, a financial holding company, provides various 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 and health 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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