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

Shares of First Commonwealth Financial Co. (NYSE:FCF) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.70.

Several equities analysts have recently issued reports on FCF shares. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. Piper Sandler dropped their target price on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods increased their target price on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds have recently made changes to their positions in FCF. Sanctuary Advisors LLC raised its holdings in shares of First Commonwealth Financial by 4.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,623 shares of the bank’s stock worth $268,000 after acquiring an additional 633 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of First Commonwealth Financial by 5.9% in the third quarter. Natixis Advisors LLC now owns 15,882 shares of the bank’s stock valued at $272,000 after purchasing an additional 883 shares in the last quarter. Louisiana State Employees Retirement System increased its position in First Commonwealth Financial by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the bank’s stock worth $708,000 after purchasing an additional 900 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in First Commonwealth Financial by 6.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,383 shares of the bank’s stock valued at $332,000 after purchasing an additional 1,112 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in First Commonwealth Financial by 2,572.6% during the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,595 shares during the last quarter. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Price Performance

Shares of NYSE FCF opened at $16.90 on Thursday. The company has a 50 day simple moving average of $17.97 and a two-hundred day simple moving average of $16.71. 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 market capitalization of $1.72 billion, a price-to-earnings ratio of 11.42 and a beta of 0.86. 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 (NYSE:FCF) last posted 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). The company had revenue of $121.21 million for the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. Analysts expect that First Commonwealth Financial will post 1.4 EPS 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. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 3.08%. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

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.