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

Shares of First Commonwealth Financial Co. (NYSE:FCF) have earned a consensus rating of “Hold” from the five brokerages that are currently covering the company, Marketbeat.com reports. Three equities research 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 brokers that have issued a report on the stock in the last year is $17.70.

FCF has been the topic of a number of analyst reports. StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 1st. Keefe, Bruyette & Woods increased their target price on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler lowered their target price on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FCF. Dimensional Fund Advisors LP raised its position in First Commonwealth Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock valued at $96,503,000 after purchasing an additional 233,955 shares during the period. Intech Investment Management LLC purchased a new position in First Commonwealth Financial in the second quarter valued at about $834,000. Sei Investments Co. raised its position in First Commonwealth Financial by 12.8% in the second quarter. Sei Investments Co. now owns 21,053 shares of the bank’s stock valued at $291,000 after purchasing an additional 2,381 shares during the period. Public Sector Pension Investment Board raised its position in First Commonwealth Financial by 7.5% in the second quarter. Public Sector Pension Investment Board now owns 224,418 shares of the bank’s stock valued at $3,099,000 after purchasing an additional 15,752 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in First Commonwealth Financial in the second quarter valued at about $245,000. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $16.54 on Monday. The business’s 50 day simple moving average is $17.79 and its 200-day simple moving average is $17.04. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. 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 posted its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $121.21 million during the quarter, compared to analysts’ expectations of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. First Commonwealth Financial’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. As a group, equities analysts forecast that First Commonwealth Financial will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 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.