First Commonwealth Financial Co. (NYSE:FCF) Receives Consensus Rating of “Hold” from Brokerages

Shares of First Commonwealth Financial Co. (NYSE:FCF) have earned a consensus rating of “Hold” from the five analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $17.30.

Several equities analysts have recently commented on the company. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Piper Sandler dropped their price target 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. Royal Bank of Canada raised their price objective on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods increased 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, Janney Montgomery Scott lowered shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $19.00 in a report on Monday, July 29th.

Insiders Place Their Bets

In other First Commonwealth Financial news, EVP Michael P. Mccuen bought 2,919 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were acquired at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at $979,014.77. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.97% of the stock is currently owned by insiders.

Institutional Trading of First Commonwealth Financial

Large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its stake in First Commonwealth Financial by 72.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 92,972 shares of the bank’s stock valued at $1,294,000 after acquiring an additional 38,990 shares in the last quarter. BNP Paribas Financial Markets increased its stake in First Commonwealth Financial by 137.7% in the 1st quarter. BNP Paribas Financial Markets now owns 68,729 shares of the bank’s stock valued at $957,000 after buying an additional 39,811 shares during the period. Texas Permanent School Fund Corp lifted its position in First Commonwealth Financial by 53.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank’s stock worth $1,886,000 after buying an additional 47,466 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of First Commonwealth Financial during the 2nd quarter valued at $693,000. Finally, Algert Global LLC purchased a new position in shares of First Commonwealth Financial during the 2nd quarter valued at $142,000. 72.58% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Stock Down 1.2 %

Shares of NYSE:FCF opened at $19.00 on Wednesday. The stock has a market capitalization of $1.94 billion, a P/E ratio of 12.84 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. First Commonwealth Financial has a 1 year low of $12.30 and a 1 year high of $19.50. The stock has a 50-day simple moving average of $16.99 and a 200-day simple moving average of $15.61.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share 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 analysts’ expectations of $119.47 million. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities analysts forecast that First Commonwealth Financial will post 1.4 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, November 8th. First Commonwealth Financial’s payout ratio is currently 35.14%.

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.