First Commonwealth Financial Co. (NYSE:FCF) is expected to post earnings of $0.39 per share in the third quarter of 2022
First Commonwealth Financial Co. (NYSE: FCF – Get a rating) – Analysts at DA Davidson released their third quarter 2022 earnings per share (EPS) estimates for First Commonwealth Financial in a research note published Tuesday, August 2. DA Davidson analyst Navas expects the bank to earn $0.39 per share for the quarter. DA Davidson currently has a “Buy” rating on the stock. First Commonwealth Financial’s current annual earnings consensus estimate is $1.41 per share. DA Davidson also released estimates for First Commonwealth Financial’s fiscal year 2022 earnings at $1.43 EPS and fiscal year 2023 earnings at $1.62 EPS.
First Commonwealth Financial (NYSE: FCF – Get a rating) last released its results on Tuesday, July 26. The bank reported earnings per share (EPS) of $0.33 for the quarter, matching the consensus estimate 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 a year earlier, the company posted EPS of $0.31.
Several other research companies also commented on FCF. Raymond James reaffirmed a “hold” rating on First Commonwealth Financial shares in a report on Monday. B. Riley raised his price target on shares of First Commonwealth Financial from $16.00 to $17.00 in a report on Monday. Finally, Stephens downgraded shares of First Commonwealth Financial from an “overweight” rating to an “equal weight” rating and set a price target of $15.50 for the stock. in a report Wednesday. Three investment analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, First Commonwealth Financial has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.
First Commonwealth Financial Awards performance
NYSE FCF opened at $14.65 on Wednesday. First Commonwealth Financial has a 1-year low of $12.36 and a 1-year high of $17.63. The company has a debt ratio of 0.17, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $1.38 billion, a price/earnings ratio of 10.85 and a beta of 1.01. The stock’s fifty-day moving average price is $13.79 and its 200-day moving average price is $14.74.
First Commonwealth Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19. Shareholders of record on Friday, August 5 will receive a dividend of $0.12 per share. This represents an annualized dividend of $0.48 and a dividend yield of 3.28%. The ex-dividend date is Thursday August 4th. First Commonwealth Financial’s payout ratio is currently 35.56%.
Institutional entries and exits
A number of hedge funds and other institutional investors have been buying and selling stocks recently. Raymond James Financial Services Advisors Inc. increased its stake in First Commonwealth Financial by 7.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,949 shares of the bank valued at $176,000 after buying 775 additional shares last quarter. Teacher Retirement System of Texas increased its stake in First Commonwealth Financial by 5.7% in the first quarter. Teacher Retirement System of Texas now owns 19,559 shares of the bank valued at $297,000 after acquiring 1,051 additional shares in the last quarter. Raymond James & Associates increased its stake in First Commonwealth Financial by 6.7% in the fourth quarter. Raymond James & Associates now owns 20,069 shares of the bank valued at $323,000 after acquiring 1,255 additional shares in the last quarter. Nisa Investment Advisors LLC increased its stake in First Commonwealth Financial by 4.1% in Q2. Nisa Investment Advisors LLC now owns 37,130 shares of the bank valued at $498,000 after acquiring 1,470 additional shares in the last quarter. Finally, Ellis Investment Partners LLC increased its stake in First Commonwealth Financial by 15.6% in the 1st quarter. Ellis Investment Partners LLC now owns 11,717 shares of the bank valued at $177,000 after acquiring 1,580 additional shares in the last quarter. 68.56% of the shares are held by hedge funds and other institutional investors.
About First Commonwealth Financial
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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