First Commonwealth Financial Co. (NYSE:FCF) Announces $0.13 Quarterly Dividend

First Commonwealth Financial Co. (NYSE:FCF) declared a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.13 per share by the bank on Friday, November 22nd. This represents a $0.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, November 8th.

First Commonwealth Financial has increased its dividend payment by an average of 4.0% annually over the last three years. First Commonwealth Financial has a payout ratio of 36.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Commonwealth Financial to earn $1.44 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 36.1%.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $19.29 on Thursday. The firm’s 50 day moving average is $16.86 and its two-hundred day moving average is $15.45. The firm has a market capitalization of $1.97 billion, a P/E ratio of 13.03 and a beta of 0.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a 52 week low of $12.30 and a 52 week high of $19.50.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The business had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. Analysts anticipate that First Commonwealth Financial will post 1.4 earnings per share for the current year.

Insider Transactions at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen bought 2,919 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average cost of $16.99 per share, with a total value of $49,593.81. Following the completion of the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at approximately $979,014.77. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FCF shares. Piper Sandler cut their price objective 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. 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 note on Monday, July 29th. StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their target price on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods increased their price target on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.30.

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.