First Commonwealth Financial Corporation (NYSE:FCF) Receives $18.92 Average Price Target from Analysts

Shares of First Commonwealth Financial Corporation (NYSE:FCFGet Free Report) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $18.92.

Several analysts have recently commented on FCF shares. Wall Street Zen downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, May 7th. Royal Bank Of Canada lowered their price target on shares of First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods cut their price target on First Commonwealth Financial from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 2nd.

View Our Latest Research Report on FCF

First Commonwealth Financial Stock Up 0.2%

First Commonwealth Financial stock opened at $15.40 on Thursday. The business’s 50-day simple moving average is $15.48 and its two-hundred day simple moving average is $16.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $1.62 billion, a PE ratio of 11.49 and a beta of 0.81. First Commonwealth Financial has a fifty-two week low of $13.05 and a fifty-two week high of $19.96.

First Commonwealth Financial (NYSE:FCFGet Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. First Commonwealth Financial had a return on equity of 9.80% and a net margin of 19.68%. The firm had revenue of $118.51 million for the quarter, compared to analyst estimates of $117.70 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. First Commonwealth Financial’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts anticipate that First Commonwealth Financial will post 1.45 EPS for the current year.

First Commonwealth Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.51%. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, May 9th. First Commonwealth Financial’s payout ratio is 40.30%.

Insider Activity at First Commonwealth Financial

In other First Commonwealth Financial news, Director Todd D. Brice bought 7,000 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were purchased at an average cost of $16.09 per share, for a total transaction of $112,630.00. Following the transaction, the director now directly owns 10,500 shares of the company’s stock, valued at approximately $168,945. The trade was a 200.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.17% of the company’s stock.

Hedge Funds Weigh In On First Commonwealth Financial

Large investors have recently bought and sold shares of the business. US Bancorp DE grew its holdings in First Commonwealth Financial by 2,911.4% in the first quarter. US Bancorp DE now owns 2,379 shares of the bank’s stock valued at $37,000 after purchasing an additional 2,300 shares during the period. Crowley Wealth Management Inc. acquired a new position in shares of First Commonwealth Financial during the 4th quarter worth approximately $42,000. Sterling Capital Management LLC lifted its position in shares of First Commonwealth Financial by 815.8% during the 4th quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank’s stock valued at $54,000 after buying an additional 2,839 shares in the last quarter. Jones Financial Companies Lllp grew its stake in First Commonwealth Financial by 56.8% in the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank’s stock valued at $57,000 after acquiring an additional 1,227 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in First Commonwealth Financial by 173.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank’s stock worth $57,000 after acquiring an additional 2,154 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

About First Commonwealth Financial

(Get Free Report

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.

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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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