First Commonwealth Financial Co. (NYSE:FCF) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of First Commonwealth Financial Co. (NYSE:FCF) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $19.58.

Several equities research analysts have recently weighed in on FCF shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 30th. Piper Sandler reduced their target price 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. DA Davidson reiterated a “buy” rating and set a $21.00 target price on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Stephens restated an “overweight” rating and issued a $21.50 price target on shares of First Commonwealth Financial in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its position in shares of First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after purchasing an additional 456,119 shares during the period. JPMorgan Chase & Co. raised its stake in First Commonwealth Financial by 46.6% in the fourth quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank’s stock worth $15,693,000 after buying an additional 295,011 shares in the last quarter. Norges Bank purchased a new stake in First Commonwealth Financial during the fourth quarter worth $4,536,000. First Trust Advisors LP boosted its position in First Commonwealth Financial by 19.9% during the 4th quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank’s stock valued at $21,461,000 after acquiring an additional 210,876 shares in the last quarter. Finally, Northern Trust Corp boosted its position in First Commonwealth Financial by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,483,405 shares of the bank’s stock valued at $25,099,000 after acquiring an additional 179,250 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors.

First Commonwealth Financial Price Performance

NYSE:FCF opened at $16.35 on Friday. The company has a market capitalization of $1.66 billion, a P/E ratio of 11.76 and a beta of 0.87. The business’s 50-day moving average is $16.74 and its 200 day moving average is $17.09. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. 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 announced its earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts forecast that First Commonwealth Financial will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $0.13 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.52 annualized dividend and a dividend yield of 3.18%. First Commonwealth Financial’s payout ratio is currently 37.41%.

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.