According to Zacks, “First Commonwealth Financial Corporation is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended. The Corporation operates two chartered banks, First Commonwealth Bank and Southwest Bank. Personal financial planning and other financial services and insurance products are also provided through First Commonwealth Trust Company and First Commonwealth Insurance Agency. The Corporation also operates through Commonwealth Systems Corporation, a data processing subsidiary. “
Separately, ValuEngine upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. First Commonwealth Financial currently has a consensus rating of “Hold” and a consensus target price of $15.67.
First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). First Commonwealth Financial had a net margin of 25.64% and a return on equity of 10.51%. The firm had revenue of $91.73 million during the quarter, compared to analyst estimates of $91.27 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts forecast that First Commonwealth Financial will post 1.12 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of FCF. State of New Jersey Common Pension Fund D purchased a new stake in shares of First Commonwealth Financial in the 3rd quarter valued at about $5,025,000. Acadian Asset Management LLC purchased a new stake in shares of First Commonwealth Financial in the 4th quarter valued at about $3,690,000. Goldman Sachs Group Inc. lifted its holdings in shares of First Commonwealth Financial by 25.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 970,747 shares of the bank’s stock valued at $14,085,000 after purchasing an additional 194,286 shares during the last quarter. Nicholas Investment Partners LP purchased a new stake in shares of First Commonwealth Financial in the 4th quarter valued at about $2,015,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of First Commonwealth Financial by 8.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,587,179 shares of the bank’s stock valued at $23,030,000 after purchasing an additional 128,811 shares during the last quarter. 67.85% of the stock is owned by institutional investors and hedge funds.
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.
Read More: What is a back-end load?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Commonwealth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial and related companies with MarketBeat.com's FREE daily email newsletter.