Principal Financial Group Reduces Stake in First Commonwealth Financial Co.
June 19, 2023
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First Commonwealth Financial ($NYSE:FCF) Co. is a financial holding company based in Indiana, Pennsylvania. It primarily operates through its subsidiary, First Commonwealth Bank, which provides a variety of services, such as consumer banking, insurance, trust services, and wealth management. The company also has operations in Ohio and Kentucky. Its stock is listed on the New York Stock Exchange with the ticker symbol FCF.
The Principal Financial Group Inc. is an investment management firm with a global presence. Investors should look out for any potential shifts in the stock’s performance in the coming weeks and months.
Share Price
As a result, the stock of FCF opened at $13.1 and closed at $13.1, up by 0.2% from its last closing price of 13.0. The announcement came as a surprise to investors, who were expecting Principal Financial Group Inc. to increase its holdings in FCF. The decrease in holdings is likely due to the uncertain outlook for the company in light of the current market conditions. Despite the minor increase in share price, investors remain wary of the company’s future prospects and are watching closely to see if any further announcements are made in the near future. 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 |
| – | 130.68 | – |
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 |
| 11.11k | 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 analyze the financials of FIRST COMMONWEALTH FINANCIAL to provide investors with an understanding of the company’s financial health. Our analysis revealed that FIRST COMMONWEALTH FINANCIAL is strong in growth, asset, dividend, and medium in profitability. We classify this company as a ‘rhino’, which suggests that it has achieved moderate revenue or earnings growth. We believe that long-term investors may be interested in FIRST COMMONWEALTH FINANCIAL due to its high health score of 8/10 with regard to its cashflows and debt, which indicates its ability to sustain future operations in times of crisis. Furthermore, its strong performance in growth, asset, and dividend criteria shows that FIRST COMMONWEALTH FINANCIAL is a good investment option for those seeking returns on their investments in the long-term. 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
First Commonwealth Financial Co is a financial services company that provides banking, investment management, and insurance services. Recently, Principal Financial Group Inc. reduced its holdings in First Commonwealth Financial Co’s shares. This may indicate that Principal Financial Group views the company as a less attractive investment opportunity. Investors should weigh the potential benefits of investing in First Commonwealth Financial Co against their own risk tolerance and financial goals before making any decisions. It is also important to consider the company’s financial health and competitive landscape when researching potential investments.
Additionally, investors should pay attention to news and regulatory developments related to the company in order to make informed decisions.
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