First Commonwealth Financial (NYSE:FCF) downgraded to “Market Perform” at Raymond James
First Commonwealth Financial (NYSE:FCF – Get Rating) was downgraded by Raymond James equity research analysts from an “outperforming” rating to a “market performing” rating in a note released to investors Thursday, Marketbeat Ratings reports.
FCF has been the subject of several other reports. B. Riley reduced his price target on First Commonwealth Financial from $19.00 to $18.00 in a Tuesday, April 12 research note. StockNews.com launched coverage on First Commonwealth Financial in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. Four investment analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat.com, First Commonwealth Financial has an average rating of “Hold” and an average target price of $18.50.
FCF opened at $13.63 on Thursday. The company has a 50-day moving average price of $13.55 and a two-hundred-day moving average price of $15.05. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt ratio of 0.17. The company has a market capitalization of $1.29 billion, a PE ratio of 10.25 and a beta of 1.00. First Commonwealth Financial has a 52-week low of $12.36 and a 52-week high of $17.63.
First Commonwealth Financial (NYSE:FCF – Get Rating) last released quarterly earnings data on Tuesday, April 26. The bank reported EPS of $0.29 for the quarter, missing the consensus estimate of $0.30 per ($0.01). The company posted revenue of $92.15 million for the quarter, versus $93.91 million expected by analysts. First Commonwealth Financial had a net margin of 32.00% and a return on equity of 11.51%. The company’s revenue was down 4.8% year-over-year. In the same period a year earlier, the company had earned earnings per share of $0.41. As a group, sell-side analysts expect First Commonwealth Financial to post EPS of 1.35 for the current financial year.
Several institutional investors and hedge funds have recently increased or reduced their holdings in the FCF. Royal Bank of Canada increased its holdings of First Commonwealth Financial shares by 11.1% in the third quarter. Royal Bank of Canada now owns 113,723 shares of the bank worth $1,550,000 after acquiring an additional 11,407 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of First Commonwealth Financial by 103.0% in the third quarter. BNP Paribas Arbitrage SA now owns 104,473 shares in the bank worth $1,424,000 after acquiring an additional 53,019 shares during the period. Cetera Advisor Networks LLC increased its holdings of First Commonwealth Financial shares by 5.2% in Q3. Cetera Advisor Networks LLC now owns 14,661 shares of the bank worth $200,000 after acquiring an additional 724 shares during the period. Captrust Financial Advisors increased its holdings of First Commonwealth Financial shares by 16.5% in the third quarter. Captrust Financial Advisors now owns 7,314 shares of the bank worth $100,000 after acquiring an additional 1,034 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of First Commonwealth Financial by 17.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 18,100 shares of the bank worth $246,000 after acquiring 2,700 additional shares during the period. Institutional investors and hedge funds hold 68.56% of the company’s shares.
Profile of the Commonwealth’s First Financial Corporation (Get an assessment)
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.
Get news and reviews for First Commonwealth Financial Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for First Commonwealth Financial and related companies with MarketBeat.com’s free daily email newsletter.