First Commonwealth Financial Co. (NYSE: FCF – Get a rating) – B. Riley raised his earnings per share estimates for the third quarter of 2023 for shares of First Commonwealth Financial in a note to investors on Sunday, July 31. B. Riley analyst S. Moss now expects the bank to post earnings of $0.41 per share for the quarter, up from its previous estimate of $0.40. First Commonwealth Financial’s current annual earnings consensus estimate is $1.41 per share. B. Riley also released estimates for First Commonwealth Financial’s fourth quarter 2023 earnings at $0.40 EPS.
Several other equity research analysts have also recently weighed in on the FCF. Raymond James upgraded First Commonwealth Financial from an “outperforming” rating to a “market performing” rating in a Thursday July 7 research report. DA Davidson reiterated a “buy” rating on First Commonwealth Financial shares in a Wednesday July 27 research report. Three equity research analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.
First Commonwealth Financial Trading up 0.8%
Shares of First Commonwealth Financial opened at $14.94 on Tuesday. The stock’s 50-day simple moving average is $13.74 and its 200-day simple moving average is $14.74. First Commonwealth Financial has a 52-week low of $12.36 and a 52-week high of $17.63. The stock has a market capitalization of $1.41 billion, a P/E ratio of 11.07 and a beta of 1.01. The company has a debt ratio of 0.17, a quick ratio of 0.90 and a current ratio of 0.90.
First Commonwealth Financial (NYSE: FCF – Get a rating) last reported quarterly earnings data on Tuesday, July 26. The bank reported earnings per share (EPS) of $0.33 for the quarter, meeting analyst consensus estimates of $0.33. First Commonwealth Financial had a return on equity of 11.74% and a net margin of 32.04%. During the same period of the previous year, the company posted EPS of $0.31.
First Commonwealth Financial announces dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19. Investors of record on Friday, August 5 will receive a dividend of $0.12. This represents an annualized dividend of $0.48 and a dividend yield of 3.21%. The ex-date of this dividend is Thursday, August 4. First Commonwealth Financial’s dividend payout ratio (DPR) is 35.56%.
Institutional entries and exits
Institutional investors have recently changed their stock portfolios. Lazard Asset Management LLC bought a new position in shares of First Commonwealth Financial in the fourth quarter for a value of approximately $27,000. Aaron Wealth Advisors LLC bought a new position in shares of First Commonwealth Financial in the first quarter for a value of approximately $263,000. Moisand Fitzgerald Tamayo LLC bought a new position in shares of First Commonwealth Financial in the second quarter for a value of approximately $63,000. Psagot Value Holdings Ltd. Israel bought a new position in shares of First Commonwealth Financial in the first quarter for a value of approximately $76,000. Finally, UMB Bank NA MO bought a new position in shares of First Commonwealth Financial in the fourth quarter for a value of approximately $89,000. 68.56% of the shares are currently held by institutional investors.
Profile of the Commonwealth’s First Financial Corporation
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 loans, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and automated teller machine (ATM) services ), as well as internet, mobile and telephone banking.
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