Brokerages Set First Commonwealth Financial Co. (NYSE:FCF) Target Price at $17.70

Shares of First Commonwealth Financial Co. (NYSE:FCF) have earned an average rating of “Hold” from the five ratings firms that are covering the firm, Marketbeat.com reports. Three 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 brokerages that have issued a report on the stock in the last year is $17.70.

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler decreased their price target on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th.

First Commonwealth Financial Trading Down 1.3 %

Shares of FCF opened at $17.00 on Thursday. First Commonwealth Financial has a fifty-two week low of $12.41 and a fifty-two week high of $19.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The company’s fifty day moving average is $17.97 and its 200 day moving average is $16.69. The stock has a market capitalization of $1.73 billion, a PE ratio of 11.49 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCF) last posted its 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 business had revenue of $121.21 million during the quarter, compared to the consensus estimate of $119.47 million. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. Sell-side analysts expect that First Commonwealth Financial will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 3.06%. First Commonwealth Financial’s payout ratio is 35.14%.

Institutional Trading of First Commonwealth Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its stake in First Commonwealth Financial by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the bank’s stock worth $708,000 after buying an additional 900 shares during the period. Bank of New York Mellon Corp raised its stake in shares of First Commonwealth Financial by 2.9% during the second 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Commonwealth Financial by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,656 shares of the bank’s stock valued at $451,000 after acquiring an additional 4,262 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of First Commonwealth Financial in the second quarter valued at approximately $51,000. Finally, Hantz Financial Services Inc. bought a new position in First Commonwealth Financial in the second quarter worth approximately $693,000. 72.58% of the stock is currently owned by 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.