First Commonwealth Financial Co. (NYSE:FCF – Get Rating) – Investment analysts Boenning Scattergood have raised their second quarter 2022 earnings per share estimates for First Commonwealth Financial in a research report released to clients and investors on Friday, April 29. Boenning Scattergood analyst D. Cardenas now expects the bank to earn $0.32 per share for the quarter, up from his previous forecast of $0.31. Boenning Scattergood also released estimates for First Commonwealth Financial Q3 2022 profit at $0.35 EPS, Q4 2022 profit at $0.36 EPS, FY2022 profit at $1.32 EPS and earnings for fiscal year 2023 at $1.50 EPS.
FCF has been the subject of a number of other reports. DA Davidson reiterated a “buy” rating on First Commonwealth Financial shares in a Thursday, January 27 report. B. Riley cut his price target on First Commonwealth Financial from $19.00 to $18.00 in a Tuesday, April 12 report. Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating and set a price target of $18.00 on the stock in a Wednesday, January 5 report. Finally, StockNews.com picked up coverage from First Commonwealth Financial in a Thursday, March 31 research note. They have placed a “holding” rating on the stock. Three research analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $18.33.
Shares of NYSE:FCF opened at $13.48 on Monday. First Commonwealth Financial has a 12-month low of $12.36 and a 12-month high of $17.63. The company’s 50-day simple moving average is $15.17 and its 200-day simple moving average is $15.65. The company has a market capitalization of $1.27 billion, a PE ratio of 10.14 and a beta of 1.02. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt ratio of 0.17.
First Commonwealth Financial (NYSE:FCF – Get Rating) last announced its quarterly results on Tuesday, April 26. The bank reported earnings per share (EPS) of $0.29 for the quarter, missing the Zacks consensus estimate of $0.30 per ($0.01). First Commonwealth Financial had a net margin of 32.00% and a return on equity of 11.51%. The company posted revenue of $92.15 million in the quarter, compared to $93.91 million expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $0.41. The company’s revenue decreased by 4.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 20. Investors of record on Friday, May 6 will receive a dividend of $0.12 per share. This represents an annualized dividend of $0.48 and a yield of 3.56%. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.12. The ex-date of this dividend is Thursday, May 5. First Commonwealth Financial’s payout ratio is 34.59%.
Hedge funds have recently changed their positions in the stock. The New York State Teachers’ Retirement System raised its position in First Commonwealth Financial by 1.2% in the first quarter. The New York State Teachers’ Retirement System now owns 214,930 shares of the bank worth $3,258,000 after acquiring an additional 2,500 shares during the period. McKinley Carter Wealth Services Inc. increased its position in First Commonwealth Financial by 24.0% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 15,497 shares of the bank worth $235,000 after acquiring 2,997 additional shares during the period. Artemis Investment Management LLP raised its position in First Commonwealth Financial by 16.9% in the first quarter. Artemis Investment Management LLP now owns 529,440 shares of the bank worth $8,012,000 after acquiring an additional 76,680 shares during the period. Inspire Investing LLC acquired a new stake in First Commonwealth Financial during Q1 worth approximately $236,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in First Commonwealth Financial during Q1 worth approximately $450,000. Hedge funds and other institutional investors hold 67.70% of the company’s shares.
Profile of the Commonwealth’s First Financial Corporation (Get an assessment)
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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