First Commonwealth Financial Co. (NYSE:FCF) Plans $0.13 Quarterly Dividend

First Commonwealth Financial Co. (NYSE:FCF - Get Free Report) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders of record on Friday, February 7th will be paid a dividend of 0.13 per share by the bank on Friday, February 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, February 7th.

First Commonwealth Financial has raised its dividend by an average of 4.2% per year over the last three years. First Commonwealth Financial has a dividend payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Commonwealth Financial to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 36.4%.

First Commonwealth Financial Price Performance

Shares of NYSE FCF traded down $0.63 during midday trading on Wednesday, hitting $16.19. The stock had a trading volume of 907,149 shares, compared to its average volume of 715,469. The company has a market capitalization of $1.65 billion, a PE ratio of 10.94 and a beta of 0.88. The stock has a 50 day simple moving average of $17.48 and a 200-day simple moving average of $17.16. First Commonwealth Financial has a 1 year low of $12.41 and a 1 year high of $19.96. 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 (NYSE:FCF - Get Free Report) last released its earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. On average, sell-side analysts expect that First Commonwealth Financial will post 1.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on First Commonwealth Financial from $18.00 to $20.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. StockNews.com upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 1st. Stephens reiterated an "overweight" rating and set a $21.50 price objective on shares of First Commonwealth Financial in a research report on Wednesday. Finally, Piper Sandler reduced their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $18.90.

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.

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