First Commonwealth Financial Co. (NYSE:FCF) Receives $17.50 Consensus PT from Analysts

Shares of First Commonwealth Financial Co. (NYSE:FCF) have earned a consensus rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $17.50.

FCF has been the subject of a number of recent analyst reports. Janney Montgomery Scott cut shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $16.00 to $19.00 in a research note on Monday, July 29th. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 25th. Piper Sandler upped their target price on First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods boosted their target price on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price objective 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.

Institutional Investors Weigh In On First Commonwealth Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCF. Dimensional Fund Advisors LP raised its holdings in 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 valued at $96,503,000 after acquiring an additional 233,955 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in First Commonwealth Financial by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,856 shares of the bank’s stock valued at $43,214,000 after buying an additional 23,924 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of First Commonwealth Financial by 155.0% in the 4th quarter. Franklin Resources Inc. now owns 2,697,502 shares of the bank’s stock worth $41,649,000 after acquiring an additional 1,639,667 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of First Commonwealth Financial by 29.9% during the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after acquiring an additional 384,892 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of First Commonwealth Financial by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock valued at $16,702,000 after acquiring an additional 33,759 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Stock Up 2.5 %

FCF stock opened at $17.50 on Tuesday. The stock has a market cap of $1.79 billion, a P/E ratio of 10.86 and a beta of 0.83. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $16.67 and its 200-day moving average price is $14.57. First Commonwealth Financial has a twelve month low of $11.16 and a twelve month high of $19.01.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.34 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. On average, equities research analysts forecast that First Commonwealth Financial will post 1.44 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, August 2nd. First Commonwealth Financial’s payout ratio is 32.30%.

First Commonwealth Financial Company Profile

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.