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

First Commonwealth Financial Co. (NYSE:FCF) has received an average recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.70.

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

Hedge Funds Weigh In On First Commonwealth Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in First Commonwealth Financial by 2,572.6% during the 3rd 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 period. Quest Partners LLC purchased a new position in shares of First Commonwealth Financial during the second quarter valued at about $34,000. Wilmington Savings Fund Society FSB bought a new position in First Commonwealth Financial in the third quarter worth about $46,000. Innealta Capital LLC purchased a new stake in First Commonwealth Financial in the second quarter worth about $51,000. Finally, CWM LLC boosted its position in First Commonwealth Financial by 92.0% during the 3rd quarter. CWM LLC now owns 3,830 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,835 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock opened at $16.90 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. First Commonwealth Financial has a one year low of $12.41 and a one year high of $19.96. The firm has a market capitalization of $1.72 billion, a P/E ratio of 11.42 and a beta of 0.86. The business has a fifty day moving average price of $17.97 and a 200-day moving average price of $16.71.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results 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 net margin of 21.87% and a return on equity of 11.19%. The company had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. During the same period in the previous year, the firm earned $0.39 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that First Commonwealth Financial will post 1.4 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.08%. First Commonwealth Financial’s dividend payout ratio is currently 35.14%.

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.