S&P Global downgrades outlooks on five regional US banks to 'negative' [Yahoo! Finance]
First Commonwealth Financial Corporation (FCF)
Last first commonwealth financial corporation earnings: 4/28 07:00 am
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fcbanking.com/why-us
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Source: Yahoo! Finance
It downgraded First Commonwealth Financial, M&T Bank, Synovus Financial, Trustmark and Valley National Bancorp. "The negative outlook revisions reflect the possibility that stress in CRE markets may hurt the asset quality and performance of the five banks, which have some of the highest exposures to CRE loans among banks we rate," S&P said. The most recent downgrades bring the total negative outlooks on nine U.S. banks, or 18% of those that S&P rates, it said, adding most of those "relate, at least in part to sizable CRE exposures". CRE exposures of regional banks were heavily scrutinized this year since New York Community Bancorp flagged a surprise loss and slashed its dividend citing loan loss provisions on CRE loans, which triggered a sell-off in U.S. regional banking shares. Investors and analysts alike have been worried that higher borrowing costs and low occupancy rates for office spaces could exacerbate the stress on lenders exposed to potential defaults by borrowers i
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FCF
News
- First Commonwealth Financial Corporation (NYSE:FCF) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- First Commonwealth Financial Co. (NYSE: FCF) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- First Commonwealth Financial (FCF) Reports Q1 Earnings: What Key Metrics Have to Say [Yahoo! Finance]Yahoo! Finance
- First Commonwealth Announces First Quarter 2024 Earnings; Increases Quarterly Dividend [Yahoo! Finance]Yahoo! Finance
- First Commonwealth Announces First Quarter 2024 Earnings; Increases Quarterly DividendGlobeNewswire
FCF
Earnings
- 4/23/24 - Beat
FCF
Sec Filings
- 4/25/24 - Form 8-K
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- FCF's page on the SEC website