First Commonwealth Financial Co. (NYSE:FCF) Receives $17.30 Consensus PT from Analysts

Shares of First Commonwealth Financial Co. (NYSE:FCF) have been given an average recommendation of “Hold” by the five ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.30.

FCF has been the topic of a number of recent research reports. Royal Bank of Canada boosted their price target 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. Piper Sandler cut their price target on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Janney Montgomery Scott lowered First Commonwealth Financial from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $16.00 to $19.00 in a research note on Monday, July 29th. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods boosted 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.

First Commonwealth Financial Stock Up 0.1 %

FCF opened at $18.42 on Wednesday. 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 twelve month low of $12.30 and a twelve month high of $19.50. The company has a market cap of $1.89 billion, a PE ratio of 12.45 and a beta of 0.83. The company has a 50-day moving average price of $16.91 and a 200 day moving average price of $15.51.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The firm had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts expect that First Commonwealth Financial will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, November 8th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 35.14%.

Insider Buying and Selling

In related news, EVP Michael P. Mccuen acquired 2,919 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was purchased 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 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.97% of the company’s stock.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of FCF. Natixis Advisors LLC lifted its holdings in First Commonwealth Financial by 5.9% during the 3rd quarter. Natixis Advisors LLC now owns 15,882 shares of the bank’s stock worth $272,000 after buying an additional 883 shares in the last quarter. Royce & Associates LP acquired a new position in shares of First Commonwealth Financial during the third quarter worth about $678,000. Victory Capital Management Inc. raised its holdings in First Commonwealth Financial by 35.9% in the third quarter. Victory Capital Management Inc. now owns 28,288 shares of the bank’s stock valued at $485,000 after acquiring an additional 7,469 shares in the last quarter. Entropy Technologies LP grew its holdings in First Commonwealth Financial by 121.4% during the 3rd quarter. Entropy Technologies LP now owns 24,977 shares of the bank’s stock worth $428,000 after acquiring an additional 13,697 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of First Commonwealth Financial in the 3rd quarter valued at $246,000. 72.58% of the stock is currently 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.