Brokerages Set First Commonwealth Financial Co. (NYSE:FCF) Target Price at $19.58

Shares of First Commonwealth Financial Co. (NYSE:FCF) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.92.

FCF has been the topic of several recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $21.00 price objective on shares of First Commonwealth Financial in a report on Thursday, January 30th. Royal Bank of Canada cut their price target on First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods decreased their price objective on First Commonwealth Financial from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday. StockNews.com cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. Finally, Stephens reaffirmed an “overweight” rating and set a $21.50 target price on shares of First Commonwealth Financial in a report on Wednesday, January 29th.

First Commonwealth Financial Trading Up 2.5 %

NYSE:FCF opened at $15.89 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $15.27 and a 200-day simple moving average of $16.61. First Commonwealth Financial has a 12 month low of $12.71 and a 12 month high of $19.96. The company has a market capitalization of $1.62 billion, a P/E ratio of 11.43 and a beta of 0.72.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $118.51 million for the quarter, compared to analyst estimates of $117.70 million. First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 earnings per share. On average, equities research analysts anticipate that First Commonwealth Financial will post 1.45 earnings per share for the current year.

First Commonwealth Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.13. First Commonwealth Financial’s dividend payout ratio (DPR) is 40.30%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCF. Charles Schwab Investment Management Inc. raised its position in shares of First Commonwealth Financial by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank’s stock valued at $66,947,000 after buying an additional 173,817 shares during the last quarter. Franklin Resources Inc. boosted its stake in First Commonwealth Financial by 15.3% during the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after buying an additional 456,119 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of First Commonwealth Financial by 0.5% in the fourth quarter. American Century Companies Inc. now owns 1,992,712 shares of the bank’s stock valued at $33,717,000 after purchasing an additional 9,588 shares during the period. Northern Trust Corp grew its stake in shares of First Commonwealth Financial by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,483,405 shares of the bank’s stock valued at $25,099,000 after buying an additional 179,250 shares during the period. Finally, First Trust Advisors LP increased its stake in First Commonwealth Financial by 19.9% during the fourth quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank’s stock worth $21,461,000 after acquiring an additional 210,876 shares during the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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.