B. Riley Analysts Boost Earnings Estimates for First Commonwealth Financial Corporation (FCF)

First Commonwealth Financial Corporation (NYSE:FCF) – Equities research analysts at B. Riley upped their Q1 2018 earnings per share (EPS) estimates for First Commonwealth Financial in a note issued to investors on Thursday. B. Riley analyst S. Moss now anticipates that the bank will earn $0.24 per share for the quarter, up from their previous estimate of $0.20. B. Riley also issued estimates for First Commonwealth Financial’s Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.26 EPS, FY2018 earnings at $1.02 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.28 EPS and FY2019 earnings at $1.07 EPS.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data 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 the consensus estimate of $79.29 million. First Commonwealth Financial had a return on equity of 9.53% and a net margin of 21.96%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, September 19th. ValuEngine downgraded First Commonwealth Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. FBR & Co reiterated a “neutral” rating and set a $14.00 price objective on shares of First Commonwealth Financial in a research note on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $14.00 price objective on shares of First Commonwealth Financial in a research note on Wednesday, October 4th. Finally, Boenning Scattergood reissued a “hold” rating on shares of First Commonwealth Financial in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $10.83.

First Commonwealth Financial (NYSE FCF) opened at $15.09 on Friday. The stock has a market capitalization of $1,470.00, a P/E ratio of 20.39 and a beta of 0.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.86. First Commonwealth Financial has a 52 week low of $12.05 and a 52 week high of $15.67.

A number of hedge funds and other institutional investors have recently bought and sold shares of FCF. State Street Corp lifted its holdings in First Commonwealth Financial by 10.0% in the 2nd quarter. State Street Corp now owns 3,301,635 shares of the bank’s stock worth $41,864,000 after purchasing an additional 299,793 shares in the last quarter. Citadel Advisors LLC purchased a new position in First Commonwealth Financial in the 2nd quarter worth approximately $3,416,000. BlackRock Inc. lifted its holdings in First Commonwealth Financial by 2.3% in the 2nd quarter. BlackRock Inc. now owns 11,236,579 shares of the bank’s stock worth $142,479,000 after purchasing an additional 257,186 shares in the last quarter. Koch Industries Inc. purchased a new position in First Commonwealth Financial in the 2nd quarter worth approximately $201,000. Finally, Alliancebernstein L.P. raised its holdings in shares of First Commonwealth Financial by 11.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,014,195 shares of the bank’s stock worth $25,540,000 after acquiring an additional 209,250 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors.

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First Commonwealth Financial 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.

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

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