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

First Commonwealth Financial Co. (NYSE:FCF) has earned an average rating of “Hold” from the five analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $17.30.

Several analysts recently commented on the stock. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler decreased their price target on 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.

Insider Transactions at First Commonwealth Financial

In related news, EVP Michael P. Mccuen acquired 2,919 shares of First Commonwealth Financial stock in a transaction dated Monday, September 23rd. The shares were acquired at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the transaction, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at $979,014.77. The trade was a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its stake in First Commonwealth Financial by 7.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 92,213 shares of the bank’s stock worth $1,281,000 after acquiring an additional 6,145 shares during the period. Price T Rowe Associates Inc. MD increased its stake in First Commonwealth Financial by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,117 shares of the bank’s stock valued at $656,000 after purchasing an additional 3,676 shares during the last quarter. Boston Partners lifted its position in First Commonwealth Financial by 67.9% during the first quarter. Boston Partners now owns 94,123 shares of the bank’s stock worth $1,310,000 after buying an additional 38,068 shares during the period. Somerset Trust Co acquired a new stake in First Commonwealth Financial in the 2nd quarter worth about $248,000. Finally, CWM LLC grew its holdings in First Commonwealth Financial by 451.1% in the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after buying an additional 1,633 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $18.83 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $17.53 and its two-hundred day moving average is $16.06. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 12.72 and a beta of 0.83. First Commonwealth Financial has a 12-month low of $12.41 and a 12-month high of $19.96.

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

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 35.14%.

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.