First Commonwealth Financial (NYSE:FCF) Price Target Raised to $18.00

First Commonwealth Financial (NYSE:FCF) had its price target increased by Keefe, Bruyette & Woods from $16.00 to $18.00 in a report published on Thursday, MarketBeat reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Several other equities research analysts have also weighed in on the company. Piper Sandler lifted their price target on First Commonwealth Financial from $14.00 to $17.00 and gave the company a neutral rating in a research report on Thursday. StockNews.com upgraded shares of First Commonwealth Financial from a sell rating to a hold rating in a report on Saturday, May 25th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $17.00 price target on shares of First Commonwealth Financial in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $17.13.

First Commonwealth Financial Stock Down 0.1 %

Shares of NYSE FCF opened at $18.58 on Thursday. The firm has a fifty day simple moving average of $14.21 and a two-hundred day simple moving average of $13.81. First Commonwealth Financial has a 12 month low of $11.16 and a 12 month high of $19.01. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.90 billion, a PE ratio of 11.54 and a beta of 0.85.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. The company had revenue of $120.20 million during the quarter, compared to the consensus estimate of $118.34 million. During the same period in the prior year, the firm earned $0.42 earnings per share. First Commonwealth Financial’s revenue was down 1.8% on a year-over-year basis. Equities analysts expect that First Commonwealth Financial will post 1.4 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio is currently 32.30%.

Institutional Investors Weigh In On First Commonwealth Financial

Several institutional investors have recently modified their holdings of the business. CWM LLC lifted its stake in First Commonwealth Financial by 451.1% during the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,633 shares during the period. International Assets Investment Management LLC purchased a new position in shares of First Commonwealth Financial during the fourth quarter valued at approximately $74,000. Tower Research Capital LLC TRC lifted its position in First Commonwealth Financial by 50.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,666 shares of the bank’s stock valued at $103,000 after purchasing an additional 2,236 shares during the period. Entropy Technologies LP bought a new position in First Commonwealth Financial during the first quarter valued at approximately $152,000. Finally, EMC Capital Management boosted its holdings in First Commonwealth Financial by 28.6% in the first quarter. EMC Capital Management now owns 15,823 shares of the bank’s stock worth $220,000 after purchasing an additional 3,523 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other 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.