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.
Top 5 EV Tech Stocks to Buy for 2023
According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now.
Click Here to Download the FREE Report.
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.
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.
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.