By otakuyassine3@gmail.com 
First Commonwealth Financial Co. (NYSE:FCF – Get Free Report) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,230,000 shares, an increase of 19.4% from the December 31st total of 1,030,000 shares. Based on an average daily trading volume, of 520,200 shares, the short-interest ratio is currently 2.4 days.
First Commonwealth Financial Trading Down 0.1 %
First Commonwealth Financial stock traded down $0.01 during trading hours on Friday, reaching $16.69. The company had a trading volume of 876,602 shares, compared to its average volume of 643,971. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 12.01 and a beta of 0.88. First Commonwealth Financial has a 12-month low of $12.41 and a 12-month high of $19.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50-day moving average price of $17.34 and a 200 day moving average price of $17.16.
First Commonwealth Financial (NYSE:FCF – Get Free Report) last posted its earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.38%. Equities analysts forecast that First Commonwealth Financial will post 1.43 earnings per share for the current year.
First Commonwealth Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, February 7th. First Commonwealth Financial’s dividend payout ratio is currently 37.41%.
Institutional Investors Weigh In On First Commonwealth Financial
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in shares of First Commonwealth Financial by 2,572.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock worth $28,000 after purchasing an additional 1,595 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in First Commonwealth Financial during the third quarter valued at $46,000. CWM LLC boosted its holdings in First Commonwealth Financial by 92.0% in the third quarter. CWM LLC now owns 3,830 shares of the bank’s stock worth $66,000 after acquiring an additional 1,835 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of First Commonwealth Financial in the third quarter worth $72,000. Finally, KBC Group NV increased its holdings in shares of First Commonwealth Financial by 61.6% during the fourth quarter. KBC Group NV now owns 5,842 shares of the bank’s stock valued at $99,000 after acquiring an additional 2,226 shares in the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
FCF has been the subject of a number of research reports. StockNews.com cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. DA Davidson reaffirmed a “buy” rating and issued a $21.00 price objective on shares of First Commonwealth Financial in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens reaffirmed an “overweight” rating and issued a $21.50 price target on shares of First Commonwealth Financial in a report on Wednesday. Finally, Piper Sandler decreased their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.58.
Check Out Our Latest Analysis on First Commonwealth Financial
First Commonwealth Financial Company Profile
First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health 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.
Further Reading
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.