B. Riley Weighs in on First Commonwealth Financial’s Q4 2019 Earnings (NYSE:FCF)
First Commonwealth Financial (NYSE:FCF) – Equities research analysts at B. Riley cut their Q4 2019 EPS estimates for First Commonwealth Financial in a note issued to investors on Thursday, July 11th. B. Riley analyst S. Moss now expects that the bank will post earnings of $0.30 per share for the quarter, down from their prior estimate of $0.31. B. Riley also issued estimates for First Commonwealth Financial’s Q1 2020 earnings at $0.28 EPS, Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.31 EPS, Q4 2020 earnings at $0.31 EPS and FY2020 earnings at $1.20 EPS.
A number of other research analysts have also weighed in on the company. Boenning Scattergood restated an “outperform” rating and set a $47.75 price objective on shares of WSFS Financial in a research report on Thursday, June 20th. Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $16.20.
First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.01). The firm had revenue of $84.80 million for the quarter, compared to analysts’ expectations of $84.91 million. First Commonwealth Financial had a net margin of 27.84% and a return on equity of 11.25%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Commonwealth Financial Corp PA lifted its stake in First Commonwealth Financial by 68.8% in the fourth quarter. First Commonwealth Financial Corp PA now owns 492,377 shares of the bank’s stock worth $5,948,000 after purchasing an additional 200,655 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of First Commonwealth Financial by 371.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 32,303 shares of the bank’s stock valued at $390,000 after acquiring an additional 25,450 shares in the last quarter. LSV Asset Management raised its stake in shares of First Commonwealth Financial by 14.2% during the first quarter. LSV Asset Management now owns 900,434 shares of the bank’s stock valued at $11,345,000 after acquiring an additional 111,700 shares in the last quarter. Stifel Financial Corp raised its stake in shares of First Commonwealth Financial by 39.3% during the fourth quarter. Stifel Financial Corp now owns 16,478 shares of the bank’s stock valued at $199,000 after acquiring an additional 4,646 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of First Commonwealth Financial by 56.5% during the fourth quarter. Citigroup Inc. now owns 101,581 shares of the bank’s stock valued at $1,228,000 after acquiring an additional 36,674 shares in the last quarter. Institutional investors own 66.57% of the company’s stock.
About First Commonwealth Financial
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.
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