First Commonwealth Financial Co. (NYSE:FCF) Given Consensus Rating of “Hold” by Analysts

Shares of First Commonwealth Financial Co. (NYSE:FCF) have received a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $17.50.

FCF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Piper Sandler raised their price objective on First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Janney Montgomery Scott downgraded First Commonwealth Financial from a “buy” rating to a “neutral” rating and raised their price objective for the company from $16.00 to $19.00 in a research report on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective 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.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock opened at $17.57 on Friday. The firm has a market cap of $1.80 billion, a P/E ratio of 10.91 and a beta of 0.83. 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 has a 12 month low of $11.16 and a 12 month high of $19.01. The stock’s fifty day moving average price is $16.66 and its 200-day moving average price is $15.04.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.34 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. On average, equities research analysts expect that First Commonwealth Financial will post 1.44 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio is presently 32.30%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently modified their holdings of FCF. Buckingham Capital Management Inc. acquired a new stake in shares of First Commonwealth Financial during the first quarter worth about $407,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of First Commonwealth Financial by 38.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,530 shares of the bank’s stock worth $1,074,000 after purchasing an additional 22,444 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of First Commonwealth Financial by 137.7% during the first quarter. BNP Paribas Financial Markets now owns 68,729 shares of the bank’s stock worth $957,000 after purchasing an additional 39,811 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of First Commonwealth Financial by 288.4% during the first quarter. GSA Capital Partners LLP now owns 65,603 shares of the bank’s stock worth $913,000 after purchasing an additional 48,714 shares during the period. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of First Commonwealth Financial by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 89,097 shares of the bank’s stock worth $1,240,000 after purchasing an additional 887 shares during the period. Institutional investors and hedge funds 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.