First Commonwealth Financial Co. (NYSE:FCF) Given Average Recommendation of “Hold” by Brokerages

First Commonwealth Financial Co. (NYSE:FCF) has received a consensus rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $17.50.

Several research firms have commented on FCF. Keefe, Bruyette & Woods lifted their price target on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Janney Montgomery Scott lowered shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and upped their price target for the stock from $16.00 to $19.00 in a research report on Monday, July 29th. StockNews.com downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Piper Sandler boosted their price objective on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada increased their target price on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th.

Insider Buying and Selling

In other First Commonwealth Financial news, EVP Michael P. Mccuen acquired 2,919 shares of the stock in a transaction on Monday, September 23rd. The stock was purchased at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at $979,014.77. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its position in shares of First Commonwealth Financial by 72.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 92,972 shares of the bank’s stock worth $1,294,000 after buying an additional 38,990 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in First Commonwealth Financial by 137.7% in the first quarter. BNP Paribas Financial Markets now owns 68,729 shares of the bank’s stock valued at $957,000 after acquiring an additional 39,811 shares during the period. Buckingham Capital Management Inc. bought a new position in shares of First Commonwealth Financial during the first quarter valued at approximately $407,000. Texas Permanent School Fund Corp raised its position in shares of First Commonwealth Financial by 53.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank’s stock worth $1,886,000 after purchasing an additional 47,466 shares during the period. Finally, Hantz Financial Services Inc. bought a new stake in shares of First Commonwealth Financial in the 2nd quarter worth approximately $693,000. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Performance

Shares of NYSE FCF opened at $16.99 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $1.74 billion, a PE ratio of 10.96 and a beta of 0.83. The company has a 50-day simple moving average of $16.59 and a 200-day simple moving average of $14.95. First Commonwealth Financial has a 12 month low of $11.16 and a 12 month high of $19.01.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $120.20 million for 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 revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. On average, equities analysts anticipate that First Commonwealth Financial will post 1.44 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.13 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.52 annualized dividend and a dividend yield of 3.06%. First Commonwealth Financial’s dividend payout ratio is presently 33.55%.

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.