First Commonwealth Financial Corporation (NYSE: FCF) stock fell -0.15% on Wednesday to $12.96 against a previous-day closing price of $12.98. With 0.59 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $13.02 whereas the lowest price it dropped to was $12.80. The 52-week range on FCF shows that it touched its highest point at $16.53 and its lowest point at $11.32 during that stretch. It currently has a 1-year price target of $15.17. With its current market cap of 1.33 billion, FCF has annualized dividend of $0.50 while the current yield stands at 3.86%. Beta for the stock currently stands at 0.94.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FCF was up-trending over the past week, with a rise of 3.10%, but this was up by 8.91% over a month. Three-month performance dropped to -18.49% while six-month performance fell -11.84%. The stock lost -3.50% in the past year, while it has lost -7.23% so far this year. A look at the trailing 12-month EPS for FCF yields 1.38 with Next year EPS estimates of 1.60. For the next quarter, that number is 0.42. This implies an EPS growth rate of -5.40% for this year and 3.97% for next year. EPS is expected to grow by 8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 49.90%.
Float and Shares Shorts:
At present, 99.56 million FCF shares are outstanding with a float of 91.79 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.27 million, which was 2.20% higher than short shares on Mar 30, 2023. In addition to Mr. Thomas Michael Price as the firm’s Pres, CEO & Director, Mr. James R. Reske CFA serves as its Exec. VP, CFO & Treasurer.
Institutional Ownership:
Other institutions hold 50.34% of FCF, in contrast to 5.91% held by mutual funds. Shares owned by individuals account for 19.85%. As the largest shareholder in FCF with 13.78% of the stake, BlackRock Fund Advisors holds 14,210,830 shares worth 14,210,830. A second-largest stockholder of FCF, The Vanguard Group, Inc., holds 11,702,495 shares, controlling over 11.35% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in FCF, holding 6,476,625 shares or 6.28% stake. With a 6.91% stake in FCF, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 7,130,256 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.04% of FCF stock, is the second-largest Mutual Fund holder. It holds 3,137,681 shares valued at 39.16 million. Vanguard Small Cap Index Fund holds 2.48% of the stake in FCF, owning 2,561,297 shares worth 31.96 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FCF since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FCF analysts setting a high price target of $18.00 and a low target of $13.00, the average target price over the next 12 months is $15.33. Based on these targets, FCF could surge 38.89% to reach the target high and rise by 0.31% to reach the target low. Reaching the average price target will result in a growth of 18.29% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded FCF stock several times over the past three months with 11 Buys and 8 Sells. In these transactions, 118,044 shares were bought while 45,530 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 272,954 while 45,530 shares were sold.
