First Commonwealth Financial (NYSE: FCF – Get a rating) released its results on Tuesday. The bank reported earnings per share (EPS) of $0.29 for the quarter, missing Thomson Reuters consensus estimate of $0.30 per ($0.01), MarketWatch Earnings reports. First Commonwealth Financial had a return on equity of 12.55% and a net margin of 34.51%. The company posted revenue of $92.15 million in the quarter, versus a consensus estimate of $93.91 million. During the same quarter of the previous year, the company achieved EPS of $0.41. The company’s revenue fell 4.8% from the same quarter last year.
The NYSE FCF traded down $0.20 during Tuesday’s trading, hitting $14.21. 6,638 shares of the company have traded, compared to its average volume of 588,205. The company has a leverage ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $1.34 billion, a price-earnings ratio of 9.94 and a beta of 1.02. First Commonwealth Financial has a 12-month low of $12.36 and a 12-month high of $17.63. The company has a 50-day moving average of $15.39 and a 200-day moving average of $15.67.
Several stock analysts have recently released reports on the company. StockNews.com began covering First Commonwealth Financial in a report on Thursday, March 31. They issued a “hold” rating for the company. Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating and set a target price of $18.00 for the company in a Wednesday, January 5, research report. B. Riley cut his price target on First Commonwealth Financial shares from $19.00 to $18.00 in a Tuesday, April 12 report. Finally, DA Davidson reiterated a “buy” rating on First Commonwealth Financial shares in a Thursday, January 27 report. Three analysts gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $18.33.
Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. The Canada Pension Plan Investment Board acquired a new stake in First Commonwealth Financial during the 4th quarter, valued at $257,000. LPL Financial LLC increased its stake in First Commonwealth Financial by 7.7% during the third quarter. LPL Financial LLC now owns 25,415 shares of the bank worth $346,000 after purchasing an additional 1,810 shares in the last quarter. Jane Street Group LLC increased its stake in First Commonwealth Financial by 172.6% in Q3. Jane Street Group LLC now owns 27,886 shares of the bank worth $380,000 after purchasing an additional 17,658 shares during the period. Marshall Wace LLP bought a new position in First Commonwealth Financial in Q4 for a value of approximately $469,000. Finally, MetLife Investment Management LLC increased its stake in First Commonwealth Financial by 15.2% during the 4th quarter. MetLife Investment Management LLC now owns 32,439 shares of the bank valued at $522,000 after buying an additional 4,284 shares last quarter. 67.70% of the shares are held by institutional investors.
About First Commonwealth Financial (Get a rating)
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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