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

First Commonwealth Financial Co. (NYSE:FCF) has been assigned a consensus recommendation of “Hold” from the five analysts that are presently 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 twelve-month target price among brokers that have updated their coverage on the stock in the last year is $17.70.

A number of research analysts recently weighed in on FCF shares. Keefe, Bruyette & Woods raised 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. StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Piper Sandler lowered their price target on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st.

First Commonwealth Financial Stock Up 0.1 %

NYSE:FCF opened at $18.64 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s 50-day moving average price is $17.73 and its 200-day moving average price is $16.23. The company has a market capitalization of $1.90 billion, a PE ratio of 12.59 and a beta of 0.86. First Commonwealth Financial has a 1-year low of $12.41 and a 1-year high of $19.96.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data 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 analysts’ expectations of $119.47 million. During the same quarter last year, the company posted $0.39 EPS. First Commonwealth Financial’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that First Commonwealth Financial will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

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 dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s payout ratio is currently 35.14%.

Insider Activity at First Commonwealth Financial

In related news, EVP Michael P. Mccuen acquired 2,919 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the transaction, the executive vice president now directly owns 57,623 shares in the company, valued at approximately $979,014.77. This trade represents a 5.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Commonwealth Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of First Commonwealth Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock worth $96,503,000 after acquiring an additional 233,955 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock valued at $64,876,000 after purchasing an additional 105,116 shares during the period. Franklin Resources Inc. increased its position in shares of First Commonwealth Financial by 15.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock valued at $58,601,000 after purchasing an additional 456,119 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of First Commonwealth Financial by 29.9% in the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after purchasing an additional 384,892 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of First Commonwealth Financial by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock worth $16,702,000 after buying an additional 33,759 shares during the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

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.