Boenning Scattergood Analysts Lift Earnings Estimates for First Commonwealth Financial Corporation (FCF)

First Commonwealth Financial Corporation (NYSE:FCF) – Equities researchers at Boenning Scattergood boosted their FY2017 earnings estimates for shares of First Commonwealth Financial Corporation in a research report issued on Thursday, Zacks Investment Research reports. Boenning Scattergood analyst M. Schultheis now forecasts that the bank will earn $0.82 per share for the year, up from their prior estimate of $0.80. Boenning Scattergood also issued estimates for First Commonwealth Financial Corporation’s Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.25 EPS and FY2018 earnings at $0.93 EPS.

FCF has been the subject of a number of other research reports. Raymond James Financial, Inc. reduced their target price on First Commonwealth Financial Corporation from C$4.50 to C$3.75 and set an “outperform” rating for the company in a report on Wednesday, August 30th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $14.00 target price on shares of First Commonwealth Financial Corporation in a report on Wednesday, October 4th. Zacks Investment Research lowered First Commonwealth Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Royal Bank of Canada initiated coverage on First Commonwealth Financial Corporation in a report on Monday, July 17th. They issued an “outperform” rating and a $14.00 target price for the company. Finally, Canaccord Genuity reduced their target price on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a “buy” rating for the company in a report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $9.96.

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First Commonwealth Financial Corporation (FCF) remained flat at $$13.78 on Friday. 215,200 shares of the company’s stock traded hands, compared to its average volume of 440,067. The company has a market cap of $1,340.00, a PE ratio of 16.60 and a beta of 0.97. First Commonwealth Financial Corporation has a fifty-two week low of $10.81 and a fifty-two week high of $14.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.86.

First Commonwealth Financial Corporation (NYSE:FCF) last released its 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. The company had revenue of $80.46 million during the quarter, compared to analyst estimates of $79.29 million. First Commonwealth Financial Corporation had a return on equity of 9.53% and a net margin of 21.96%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share.

Several hedge funds and other institutional investors have recently bought and sold shares of FCF. UBS Asset Management Americas Inc. increased its stake in shares of First Commonwealth Financial Corporation by 64.2% in the first quarter. UBS Asset Management Americas Inc. now owns 35,777 shares of the bank’s stock worth $474,000 after acquiring an additional 13,982 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of First Commonwealth Financial Corporation in the first quarter worth $101,000. Envestnet Asset Management Inc. increased its stake in shares of First Commonwealth Financial Corporation by 15.7% in the first quarter. Envestnet Asset Management Inc. now owns 11,532 shares of the bank’s stock worth $153,000 after acquiring an additional 1,564 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of First Commonwealth Financial Corporation by 1.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 20,330 shares of the bank’s stock worth $270,000 after acquiring an additional 260 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of First Commonwealth Financial Corporation by 65.2% in the first quarter. OppenheimerFunds Inc. now owns 17,070 shares of the bank’s stock worth $226,000 after acquiring an additional 6,739 shares during the last quarter. 63.14% of the stock is currently owned by institutional investors and hedge funds.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 3rd. First Commonwealth Financial Corporation’s dividend payout ratio (DPR) is presently 43.24%.

First Commonwealth Financial Corporation Company Profile

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.

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

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