Boenning Scattergood Reiterates “Hold” Rating for First Commonwealth Financial (FCF)

Boenning Scattergood reissued their hold rating on shares of First Commonwealth Financial (NYSE:FCF) in a research report sent to investors on Wednesday, AnalystRatings.com reports.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded First Commonwealth Financial from a hold rating to a buy rating and set a $15.00 target price for the company in a report on Thursday, January 31st. ValuEngine upgraded First Commonwealth Financial from a sell rating to a hold rating in a report on Monday, February 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $16.20.

First Commonwealth Financial stock traded up $0.03 during midday trading on Wednesday, reaching $13.47. 274,385 shares of the stock traded hands, compared to its average volume of 350,772. First Commonwealth Financial has a 12-month low of $11.33 and a 12-month high of $17.91. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.88.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). First Commonwealth Financial had a net margin of 27.84% and a return on equity of 11.25%. The firm had revenue of $84.80 million for the quarter, compared to analysts’ expectations of $84.91 million. During the same quarter last year, the business earned $0.24 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that First Commonwealth Financial will post 1.09 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, May 2nd. First Commonwealth Financial’s payout ratio is presently 36.36%.

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of First Commonwealth Financial by 0.3% in the 3rd quarter. FMR LLC now owns 1,366,889 shares of the bank’s stock valued at $22,062,000 after buying an additional 4,689 shares during the period. First Commonwealth Financial Corp PA boosted its stake in shares of First Commonwealth Financial by 68.8% in the 4th quarter. First Commonwealth Financial Corp PA now owns 492,377 shares of the bank’s stock valued at $5,948,000 after buying an additional 200,655 shares during the period. Lynch & Associates IN boosted its stake in shares of First Commonwealth Financial by 7.6% in the 4th quarter. Lynch & Associates IN now owns 14,100 shares of the bank’s stock valued at $170,000 after buying an additional 1,000 shares during the period. Nordea Investment Management AB boosted its stake in shares of First Commonwealth Financial by 26.4% in the 3rd quarter. Nordea Investment Management AB now owns 272,301 shares of the bank’s stock valued at $4,395,000 after buying an additional 56,850 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of First Commonwealth Financial by 371.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 32,303 shares of the bank’s stock valued at $390,000 after buying an additional 25,450 shares during the period. Institutional investors and hedge funds own 68.21% of the company’s stock.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, through its subsidiaries, 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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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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