Desjardins Initiates Coverage on First Commonwealth Financial Corp. (FCF)
Stock analysts at Desjardins initiated coverage on shares of First Commonwealth Financial Corp. (NYSE:FCF) in a report issued on Tuesday. The firm set a “buy” rating and a C$4.75 price target on the stock.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised First Commonwealth Financial Corp. from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Friday, October 28th. Keefe, Bruyette & Woods decreased their target price on First Commonwealth Financial Corp. from $10.00 to $9.50 and set a “market perform” rating for the company in a research report on Wednesday, September 21st. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. First Commonwealth Financial Corp. presently has an average rating of “Hold” and a consensus target price of $8.88.
First Commonwealth Financial Corp. (NYSE:FCF) opened at 12.62 on Tuesday. The firm has a 50 day moving average price of $10.72 and a 200 day moving average price of $9.88. First Commonwealth Financial Corp. has a 52 week low of $7.85 and a 52 week high of $12.81. The stock has a market capitalization of $1.12 billion, a P/E ratio of 21.76 and a beta of 0.85.
First Commonwealth Financial Corp. (NYSE:FCF) last issued its earnings results on Wednesday, October 26th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. First Commonwealth Financial Corp. had a return on equity of 7.43% and a net margin of 18.77%. During the same period in the prior year, the business earned $0.14 earnings per share. Equities research analysts predict that First Commonwealth Financial Corp. will post $0.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, November 3rd. First Commonwealth Financial Corp.’s dividend payout ratio (DPR) is 48.28%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in First Commonwealth Financial Corp. by 0.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 13,548 shares of the company’s stock valued at $137,000 after buying an additional 48 shares during the period. Credit Suisse AG boosted its position in First Commonwealth Financial Corp. by 53.8% in the third quarter. Credit Suisse AG now owns 121,330 shares of the company’s stock valued at $1,223,000 after buying an additional 42,454 shares during the period. The Manufacturers Life Insurance Company acquired a new position in First Commonwealth Financial Corp. during the third quarter valued at approximately $605,000. KCG Holdings Inc. acquired a new position in First Commonwealth Financial Corp. during the third quarter valued at approximately $126,000. Finally, Citadel Advisors LLC boosted its position in First Commonwealth Financial Corp. by 162.9% in the third quarter. Citadel Advisors LLC now owns 32,005 shares of the company’s stock valued at $323,000 after buying an additional 19,832 shares during the period. Institutional investors and hedge funds own 61.29% of the company’s stock.
First Commonwealth Financial Corp. Company Profile
First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.
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