First Commonwealth Financial (NYSE:FCF) – Stock analysts at B. Riley decreased their FY2018 EPS estimates for First Commonwealth Financial in a report released on Thursday, November 8th. B. Riley analyst S. Moss now expects that the bank will post earnings per share of $1.03 for the year, down from their previous forecast of $1.07. B. Riley currently has a “Buy” rating and a $16.00 target price on the stock. B. Riley also issued estimates for First Commonwealth Financial’s Q4 2018 earnings at $0.26 EPS, Q1 2019 earnings at $0.26 EPS, Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.29 EPS, FY2019 earnings at $1.11 EPS, Q2 2020 earnings at $0.29 EPS, Q3 2020 earnings at $0.30 EPS and FY2020 earnings at $1.20 EPS.
First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, October 23rd. The bank reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). First Commonwealth Financial had a return on equity of 11.00% and a net margin of 22.65%. The firm had revenue of $83.57 million for the quarter, compared to analyst estimates of $84.76 million. During the same period last year, the business earned $0.22 earnings per share.
FCF has been the subject of a number of other research reports. Zacks Investment Research cut shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Boenning Scattergood cut shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating in a research note on Thursday, November 1st. Raymond James restated a “hold” rating on shares of First Commonwealth Financial in a research note on Friday, September 7th. Sandler O’Neill upgraded shares of First Commonwealth Financial from a “hold” rating to a “buy” rating in a research note on Thursday, October 25th. Finally, ValuEngine upgraded shares of First Commonwealth Financial from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.67.
FCF stock opened at $13.88 on Friday. First Commonwealth Financial has a twelve month low of $12.01 and a twelve month high of $17.91. The stock has a market cap of $1.36 billion, a P/E ratio of 16.93, a PEG ratio of 1.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.88.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Willingdon Wealth Management bought a new position in shares of First Commonwealth Financial in the second quarter valued at approximately $104,000. Huntington National Bank bought a new position in shares of First Commonwealth Financial in the third quarter valued at approximately $170,000. Bank of Montreal Can bought a new position in shares of First Commonwealth Financial in the second quarter valued at approximately $188,000. McKinley Carter Wealth Services Inc. bought a new position in shares of First Commonwealth Financial in the third quarter valued at approximately $209,000. Finally, Fox Run Management L.L.C. bought a new position in shares of First Commonwealth Financial in the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.
In other First Commonwealth Financial news, Director Ray T. Charley purchased 4,000 shares of the business’s stock in a transaction on Monday, October 29th. The stock was purchased at an average price of $12.90 per share, for a total transaction of $51,600.00. Following the completion of the purchase, the director now directly owns 280,041 shares in the company, valued at $3,612,528.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.42% of the stock is owned by company insiders.
First Commonwealth Financial declared that its board has initiated a share repurchase plan on Tuesday, October 23rd that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the bank to reacquire up to 1.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, November 1st. First Commonwealth Financial’s dividend payout ratio is 43.90%.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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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