First Commonwealth Financial (NYSE:FCF) Hits New 52-Week High – Time to Buy?

First Commonwealth Financial Co. (NYSE:FCF)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $19.17 and last traded at $19.12, with a volume of 816863 shares trading hands. The stock had previously closed at $16.59.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FCF shares. Janney Montgomery Scott lowered First Commonwealth Financial from a “buy” rating to a “neutral” rating and upped their price target for the company from $16.00 to $19.00 in a research note on Monday, July 29th. Royal Bank of Canada increased their target price on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Piper Sandler decreased their target price 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. Finally, Keefe, Bruyette & Woods increased their target price on First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, First Commonwealth Financial has a consensus rating of “Hold” and a consensus price target of $17.30.

First Commonwealth Financial Trading Up 16.3 %

The company has a fifty day simple moving average of $16.81 and a two-hundred day simple moving average of $15.42. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.97 billion, a PE ratio of 12.67 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The company had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. During the same quarter last year, the company earned $0.39 EPS. First Commonwealth Financial’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts anticipate that First Commonwealth Financial Co. will post 1.42 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.13 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.70%. First Commonwealth Financial’s payout ratio is currently 35.14%.

Insider Activity

In other First Commonwealth Financial news, EVP Michael P. Mccuen acquired 2,919 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were acquired at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now owns 57,623 shares in the company, valued at $979,014.77. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.97% of the company’s stock.

Institutional Trading of First Commonwealth Financial

Large investors have recently made changes to their positions in the company. CWM LLC boosted its position in shares of First Commonwealth Financial by 451.1% in the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,633 shares during the period. Farther Finance Advisors LLC lifted its position in First Commonwealth Financial by 2,572.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock worth $28,000 after acquiring an additional 1,595 shares during the period. Quest Partners LLC acquired a new stake in First Commonwealth Financial during the 2nd quarter worth approximately $34,000. Innealta Capital LLC acquired a new stake in First Commonwealth Financial during the 2nd quarter worth approximately $51,000. Finally, nVerses Capital LLC acquired a new stake in First Commonwealth Financial during the 3rd quarter worth approximately $72,000. 72.58% of the stock is owned by institutional investors and hedge funds.

About First Commonwealth Financial

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.