FBR & Co Weighs in on First Commonwealth Financial Corporation’s FY2017 Earnings (FCF)

First Commonwealth Financial Corporation (NYSE:FCF) – Research analysts at FBR & Co lifted their FY2017 EPS estimates for First Commonwealth Financial Corporation in a research report issued to clients and investors on Friday. FBR & Co analyst S. Moss now forecasts that the bank will post earnings per share of $0.83 for the year, up from their previous estimate of $0.80. FBR & Co has a “Neutral” rating and a $14.00 price objective on the stock. FBR & Co also issued estimates for First Commonwealth Financial Corporation’s Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.23 EPS, Q3 2019 earnings at $0.23 EPS and FY2019 earnings at $0.90 EPS.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity decreased their price objective on shares of First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a “buy” rating for the company in a research report on Wednesday, August 30th. Zacks Investment Research raised shares of First Commonwealth Financial Corporation from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, August 29th. Royal Bank Of Canada reissued a “buy” rating and issued a $14.00 price objective on shares of First Commonwealth Financial Corporation in a research report on Friday, September 8th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 price objective on shares of First Commonwealth Financial Corporation in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $9.96.

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Shares of First Commonwealth Financial Corporation (FCF) opened at 14.56 on Monday. First Commonwealth Financial Corporation has a 12-month low of $9.95 and a 12-month high of $14.76. The firm’s 50-day moving average is $13.90 and its 200-day moving average is $13.05. The company has a market capitalization of $1.41 billion, a PE ratio of 20.56 and a beta of 1.01.

First Commonwealth Financial Corporation (NYSE:FCF) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. First Commonwealth Financial Corporation had a net margin of 21.96% and a return on equity of 9.53%. The company had revenue of $80.46 million during the quarter, compared to analysts’ expectations of $79.29 million. During the same period in the prior year, the company earned $0.19 earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc grew its position in shares of First Commonwealth Financial Corporation by 0.6% in the 2nd quarter. IFP Advisors Inc now owns 20,524 shares of the bank’s stock valued at $260,000 after acquiring an additional 120 shares during the period. Municipal Employees Retirement System of Michigan grew its position in shares of First Commonwealth Financial Corporation by 1.3% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 20,330 shares of the bank’s stock valued at $270,000 after acquiring an additional 260 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of First Commonwealth Financial Corporation by 11.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,496 shares of the bank’s stock valued at $108,000 after acquiring an additional 846 shares during the period. Nisa Investment Advisors LLC grew its position in shares of First Commonwealth Financial Corporation by 2.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 31,350 shares of the bank’s stock valued at $398,000 after acquiring an additional 850 shares during the period. Finally, Legal & General Group Plc grew its position in shares of First Commonwealth Financial Corporation by 0.7% in the 1st quarter. Legal & General Group Plc now owns 147,052 shares of the bank’s stock valued at $1,950,000 after acquiring an additional 1,012 shares during the period. 63.03% of the stock is owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Friday, November 3rd. First Commonwealth Financial Corporation’s dividend payout ratio (DPR) is presently 43.24%.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

Earnings History and Estimates for First Commonwealth Financial Corporation (NYSE:FCF)

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