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

Shares of First Commonwealth Financial Co. (NYSE:FCF) have been given a consensus rating of “Hold” by the five ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $17.50.

FCF has been the topic of a number of analyst reports. Royal Bank of Canada raised their target price on First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler upped their target price on First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Janney Montgomery Scott cut shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $19.00 in a research note on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th.

First Commonwealth Financial Trading Down 2.1 %

Shares of NYSE:FCF opened at $17.13 on Tuesday. The company has a market capitalization of $1.75 billion, a PE ratio of 10.64 and a beta of 0.83. First Commonwealth Financial has a 12-month low of $11.16 and a 12-month high of $19.01. The business has a 50 day moving average of $16.76 and a two-hundred day moving average of $14.62. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10.

First Commonwealth Financial (NYSE:FCF) last announced 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. The firm had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.34 million. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, analysts forecast that First Commonwealth Financial will post 1.44 EPS for the current year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.04%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 32.30%.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in First Commonwealth Financial by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,798,856 shares of the bank’s stock worth $43,214,000 after purchasing an additional 23,924 shares during the period. Dimensional Fund Advisors LP grew its position in First Commonwealth Financial by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,569,502 shares of the bank’s stock worth $101,435,000 after acquiring an additional 28,553 shares during the period. Janney Montgomery Scott LLC increased its stake in First Commonwealth Financial by 9.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 88,008 shares of the bank’s stock worth $1,359,000 after acquiring an additional 7,724 shares during the last quarter. Norges Bank acquired a new position in shares of First Commonwealth Financial in the 4th quarter valued at $10,803,000. Finally, Trexquant Investment LP purchased a new position in shares of First Commonwealth Financial during the 4th quarter worth $743,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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.