First Commonwealth Financial Co. (NYSE:FCF) Receives $17.30 Consensus Target Price from Brokerages

First Commonwealth Financial Co. (NYSE:FCF) has earned an average recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $17.30.

FCF has been the topic of a number of analyst reports. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Piper Sandler dropped their target price 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.

First Commonwealth Financial Trading Down 0.7 %

NYSE:FCF opened at $18.70 on Friday. The business’s 50-day moving average is $17.57 and its two-hundred day moving average is $16.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. First Commonwealth Financial has a 12 month low of $12.41 and a 12 month high of $19.96. The firm has a market capitalization of $1.90 billion, a PE ratio of 12.64 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCF) last announced its 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). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The business had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. Research analysts predict that First Commonwealth Financial will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.78%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is currently 35.14%.

Insider Activity at First Commonwealth Financial

In related news, EVP Michael P. Mccuen bought 2,919 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was bought at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at approximately $979,014.77. The trade was a 5.34 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.97% of the stock is owned by corporate insiders.

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. CANADA LIFE ASSURANCE Co boosted its stake in First Commonwealth Financial by 7.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 92,213 shares of the bank’s stock valued at $1,281,000 after acquiring an additional 6,145 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of First Commonwealth Financial by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 47,117 shares of the bank’s stock worth $656,000 after buying an additional 3,676 shares during the period. Boston Partners boosted its position in shares of First Commonwealth Financial by 67.9% during the first quarter. Boston Partners now owns 94,123 shares of the bank’s stock worth $1,310,000 after buying an additional 38,068 shares during the period. Somerset Trust Co acquired a new position in shares of First Commonwealth Financial during the second quarter worth approximately $248,000. Finally, CWM LLC boosted its position in shares of First Commonwealth Financial by 451.1% during the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after buying an additional 1,633 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.

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.