Arizona State Retirement System Invests $366000 in First Commonwealth Financial Co
November 11, 2023
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The Arizona State Retirement System recently announced that it has invested $366000 into First Commonwealth Financial ($NYSE:FCF) Co. This diversification of the system’s portfolio serves to increase the overall stability of Arizona’s retirement system. First Commonwealth Financial Co. (FCF) is a financial services company which operates primarily in Pennsylvania, Ohio, and New York. Currently, the company offers customers a range of banking, lending, and wealth management services. As a publicly traded company, FCF is traded on the New York Stock Exchange under the ticker symbol FCF. The company’s stock is also held in many public and private portfolios throughout the United States.
The Arizona State Retirement System’s investment in FCF is the most recent addition to a portfolio which prioritizes diversity and stability. This demonstrates Arizona’s commitment to ensuring the success of its retirement system in the long run. With this investment, the Arizona State Retirement System can look forward to long-term returns and reduced risk from this portfolio diversification.
Share Price
On Wednesday, Arizona State Retirement System invested $366000 in First Commonwealth Financial Co. The stock opened at $12.9 and closed at $12.6, a decrease of 1.9% from the previous closing price of $12.9. This investment by Arizona State Retirement System follows an overall downtrend in First Commonwealth Financial Co’s stock in the past year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FCF. More…
| Total Revenues | Net Income | Net Margin |
| – | 147.97 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FCF. More…
| Operations | Investing | Financing |
| 151.41 | -588.79 | 196.25 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FCF. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.42k | 8.75k | – |
Key Ratios Snapshot
Some of the financial key ratios for FCF are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.0% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
At GoodWhale, we’ve conducted an in-depth analysis of FIRST COMMONWEALTH FINANCIAL’s financials and have concluded that the company has a high health score of 8/10. This is a result of its positive cash flows and manageable debt levels, which suggests that it is capable of sustaining operations even in times of crisis. In terms of performance, FIRST COMMONWEALTH FINANCIAL is strong in growth, assets, and dividends, and of medium profitability. On the basis of our Star Chart analysis, we have classified FIRST COMMONWEALTH FINANCIAL as a ‘gorilla’ – a company that has achieved stable or high revenue or earnings growth through its strong competitive advantage. More…
Peers
As of December 31, 2018, the company had assets of $11.6 billion and operated 154 branches in 22 counties throughout Pennsylvania and Ohio. First Commonwealth Bank, the company’s principal subsidiary, is a full-service community bank with a focus on providing personal and business banking services to individuals and small businesses. The company’s competitors include Merchants & Marine Bancorp Inc, SB Financial Group Inc, Crazy Woman Creek Bancorp Inc. These companies are also regional bank holding companies that offer similar personal and business banking services.
– Merchants & Marine Bancorp Inc ($OTCPK:MNMB)
Merchants & Marine Bancorp Inc is a holding company for Merchants Bank and Marine Bank. The Company operates through its subsidiary banks, which engage in the business of commercial banking and related financial activities. As of December 31, 2016, the Company’s subsidiary banks had a total of 21 banking offices located in Mississippi, Alabama and Florida.
– SB Financial Group Inc ($NASDAQ:SBFG)
SunTrust Banks, Inc., is an American bank holding company headquartered in Atlanta, Georgia. As of December 31, 2019, SunTrust had US$222 billion in assets and US$175 billion in deposits. SunTrust’s primary businesses include deposit, credit, trust and investment services. The company’s principal subsidiary is SunTrust Bank, member FDIC.
– Crazy Woman Creek Bancorp Inc ($OTCPK:CRZY)
Crazy Woman Creek Bancorp Inc is a regional bank holding company based in Buffalo, Wyoming, with $1.1 billion in assets. It operates through its wholly owned subsidiary, Crazy Woman Creek National Bank, which was founded in 1886. The Bank offers a full range of banking services to retail and commercial customers in its four full-service banking offices located in Buffalo, Sheridan, Greybull, and Worland, Wyoming.
Summary
This investment could be seen as a positive move for those looking to invest in FCF as ASRS is known for its prudent investing decisions. FCF is a financial holding company headquartered in Indiana, Pennsylvania, and provides banking services, mortgage banking, consumer finance, insurance, and investment products through its subsidiaries. The company’s stock has been performing steadily over the past year, and has shown modest growth year-to-date.
While FCF is not considered a high-growth stock, it does offer some stability for investors and could be a great option for those seeking to diversify their portfolios. As with any investment, it is important to do one’s own research before investing in FCF.
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