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

First Commonwealth Financial Co. (NYSE:FCF) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders of record on Friday, February 7th will be paid a dividend of 0.13 per share by the bank on Friday, February 21st. This represents a $0.52 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, February 7th.

First Commonwealth Financial has increased its dividend by an average of 4.2% per year over the last three years. First Commonwealth Financial has a dividend payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Commonwealth Financial to earn $1.55 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 33.5%.

First Commonwealth Financial Trading Up 3.5 %

Shares of NYSE FCF opened at $16.96 on Wednesday. First Commonwealth Financial has a fifty-two week low of $12.41 and a fifty-two week high of $19.96. The firm has a market capitalization of $1.73 billion, a P/E ratio of 12.24 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92. The company’s 50 day simple moving average is $17.23 and its 200 day simple moving average is $17.17.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. On average, analysts predict that First Commonwealth Financial will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FCF shares. DA Davidson reaffirmed a “buy” rating and issued a $21.00 price target on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Keefe, Bruyette & Woods raised their price target 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. StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. Stephens reiterated an “overweight” rating and set a $21.50 price target on shares of First Commonwealth Financial in a report on Wednesday, January 29th. Finally, Piper Sandler cut their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.58.

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.