First Commonwealth Financial’s (FCF) Buy Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of First Commonwealth Financial (NYSE:FCFGet Rating) in a report issued on Wednesday morning, PriceTargets.com reports. DA Davidson also issued estimates for First Commonwealth Financial’s FY2022 earnings at $1.34 EPS and FY2023 earnings at $1.56 EPS.

Other research analysts have also issued reports about the company. StockNews.com began coverage on First Commonwealth Financial in a report on Thursday, March 31st. They issued a hold rating for the company. B. Riley decreased their price target on First Commonwealth Financial from $18.00 to $16.00 in a report on Monday, July 11th. Finally, Raymond James downgraded First Commonwealth Financial from an outperform rating to a market perform rating in a report on Thursday, July 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $17.50.

First Commonwealth Financial Trading Up 0.9 %

FCF opened at $14.82 on Wednesday. The firm has a market cap of $1.40 billion, a P/E ratio of 10.88 and a beta of 1.00. The business has a fifty day simple moving average of $13.68 and a 200-day simple moving average of $14.81. First Commonwealth Financial has a 52 week low of $12.36 and a 52 week high of $17.63. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17.

First Commonwealth Financial (NYSE:FCFGet Rating) last released its earnings results on Tuesday, July 26th. The bank reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. First Commonwealth Financial had a return on equity of 11.61% and a net margin of 32.04%. During the same period last year, the firm earned $0.31 earnings per share. On average, equities analysts expect that First Commonwealth Financial will post 1.41 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Friday, August 5th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, August 4th. First Commonwealth Financial’s dividend payout ratio (DPR) is 35.56%.

Institutional Trading of First Commonwealth Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. increased its position in shares of First Commonwealth Financial by 40.4% during the fourth quarter. Citigroup Inc. now owns 76,330 shares of the bank’s stock worth $1,228,000 after purchasing an additional 21,948 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of First Commonwealth Financial by 17.1% during the fourth quarter. Victory Capital Management Inc. now owns 522,185 shares of the bank’s stock worth $8,402,000 after purchasing an additional 76,233 shares in the last quarter. Waldron Private Wealth LLC increased its position in shares of First Commonwealth Financial by 0.7% during the first quarter. Waldron Private Wealth LLC now owns 1,205,568 shares of the bank’s stock worth $18,276,000 after purchasing an additional 8,757 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of First Commonwealth Financial during the fourth quarter worth about $341,000. Finally, Jennison Associates LLC acquired a new position in First Commonwealth Financial in the 4th quarter valued at about $1,348,000. Institutional investors and hedge funds own 68.56% of the company’s stock.

First Commonwealth Financial Company Profile

(Get Rating)

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services 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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