First Commonwealth Financial Co. (NYSE:FCF) Receives $17.30 Average PT from Brokerages

Shares of First Commonwealth Financial Co. (NYSE:FCF - Get Free Report) have been assigned a consensus rating of "Hold" from the five ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $17.30.

A number of equities analysts have recently issued reports on FCF shares. Janney Montgomery Scott cut First Commonwealth Financial from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $16.00 to $19.00 in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their price target on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a "market perform" rating in a research report on Thursday, July 25th. Piper Sandler decreased their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. StockNews.com cut shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada lifted their target price on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th.

First Commonwealth Financial Price Performance

Shares of FCF stock traded up $2.70 during trading on Wednesday, hitting $19.29. The company had a trading volume of 1,692,713 shares, compared to its average volume of 516,142. The stock's 50-day moving average is $16.81 and its two-hundred day moving average is $15.42. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 12.67 and a beta of 0.83. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a 52 week low of $12.30 and a 52 week high of $19.50.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The company had revenue of $121.21 million during the quarter, compared to the consensus estimate of $119.47 million. During the same period in the previous year, the company earned $0.39 EPS. First Commonwealth Financial's quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts predict that First Commonwealth Financial will post 1.42 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.70%. First Commonwealth Financial's dividend payout ratio is currently 35.14%.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen purchased 2,919 shares of the stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $16.99 per share, with a total value of $49,593.81. Following the transaction, the executive vice president now directly owns 57,623 shares of the company's stock, valued at approximately $979,014.77. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Commonwealth Financial

Several institutional investors and hedge funds have recently modified their holdings of FCF. American Century Companies Inc. raised its stake in First Commonwealth Financial by 29.9% in the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank's stock worth $23,107,000 after buying an additional 384,892 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Commonwealth Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank's stock worth $96,503,000 after acquiring an additional 233,955 shares in the last quarter. First Commonwealth Financial Corp PA lifted its stake in shares of First Commonwealth Financial by 6.9% in the 1st quarter. First Commonwealth Financial Corp PA now owns 960,725 shares of the bank's stock valued at $13,373,000 after purchasing an additional 61,823 shares during the period. Intech Investment Management LLC bought a new stake in shares of First Commonwealth Financial during the second quarter valued at approximately $834,000. Finally, Hantz Financial Services Inc. purchased a new stake in First Commonwealth Financial in the second quarter worth $693,000. 72.58% of the stock is owned by hedge funds and other institutional investors.

About First Commonwealth Financial

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (atm) services, as well as internet, mobile, and telephone banking services.