First Commonwealth Financial (NYSE: FCF) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a report released Monday, Zacks.com reports.
According to Zacks, “First Commonwealth Financial Corporation is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended. The company operates two chartered banks, the First Commonwealth Bank and the Southwest Bank. Personal financial planning and other financial services and insurance products are also provided through the First Commonwealth Trust Company and the First Commonwealth Insurance Agency. The company also operates through Commonwealth Systems Corporation, a data processing subsidiary. “
The FCF has been the subject of a number of other reports. Keefe, Bruyette & Woods reaffirmed a “market performance” rating on First Commonwealth Financial shares in a research report released on Wednesday July 28. Boenning Scattergood reaffirmed a “neutral” rating on First Commonwealth Financial shares in a research report on Thursday, October 28. Royal Bank of Canada upgraded First Commonwealth Financial shares from a “sector performance” rating to an “outperformance” rating and raised its price target for the company from $ 16.00 to $ 19.00 in a research report published on Thursday, October 28. Finally, B. Riley lowered his price target for First Commonwealth Financial shares from $ 16.00 to $ 15.00 and set a “neutral” rating for the company in a research report released on Monday, August 2. Four investment analysts rated the stock with a conservation rating and three gave the stock a buy rating. According to MarketBeat, First Commonwealth Financial currently has a consensus rating of “Hold” and a consensus price target of $ 17.13.
The NYSE FCF traded up $ 0.18 during trading hours on Monday, reaching $ 15.99. 386,893 shares of the company were traded, for an average volume of 453,893. First Commonwealth Financial has a one-year low of $ 9.64 and a one-year high of $ 16.28. The company’s 50-day simple moving average is $ 14.45 and its 200-day simple moving average is $ 14.17. The company has a quick ratio of 0.87, a current ratio of 0.87, and a debt ratio of 0.16. The stock has a market cap of $ 1.53 billion, a P / E ratio of 11.84 and a beta of 1.13.
First Commonwealth Financial (NYSE: FCF) last reported its results on Monday, October 25. The bank reported earnings per share of $ 0.36 for the quarter, beating analysts’ consensus estimates of $ 0.32 by $ 0.04. The company posted revenue of $ 97.89 million in the quarter, compared to analysts’ estimates of $ 94.52 million. First Commonwealth Financial had a net margin of 32.22% and a return on equity of 11.87%. In the same quarter of last year, the company made a profit of $ 0.24 per share. As a group, sell-side analysts predict that First Commonwealth Financial will post 1.4 earnings per share for the current year.
Several hedge funds and other institutional investors have recently changed their holdings of equities. BlackRock Inc. increased its stake in First Commonwealth Financial shares by 0.3% in the second quarter. BlackRock Inc. now owns 14,204,360 shares of the bank valued at $ 199,855,000 after purchasing an additional 49,456 shares during the period. Vanguard Group Inc. increased its stake in shares of First Commonwealth Financial by 1.2% in the second quarter. Vanguard Group Inc. now owns 10,687,052 shares of the bank valued at $ 150,367,000 after purchasing an additional 126,671 shares during the period. State Street Corp increased its stake in shares of First Commonwealth Financial by 5.5% in the second quarter. State Street Corp now owns 4,299,936 shares of the bank valued at $ 60,500,000 after purchasing an additional 225,064 shares during the period. JPMorgan Chase & Co. increased its stake in First Commonwealth Financial shares by 5.9% in the second quarter. JPMorgan Chase & Co. now owns 2,320,301 shares of the bank valued at $ 32,646,000 after purchasing an additional 128,493 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in First Commonwealth Financial shares by 8.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,805,920 shares of the bank valued at $ 25,410,000 after purchasing an additional 134,338 shares during the period. 68.02% of the shares are currently held by institutional investors.
Profile of the leading Commonwealth finance company
First Commonwealth Financial Corp. is a financial holding company which provides a diverse range of banking services to individuals and businesses through its banking subsidiary, First Commonwealth Bank (FCB). It also offers trust and wealth management services and offers insurance products through FCB and its other operating subsidiaries.
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