First Commonwealth Financial Co. (NYSE:FCF) Given Average Rating of “Hold” by Brokerages

Shares of First Commonwealth Financial Co. (NYSE:FCF) have received a consensus rating of “Hold” from the five brokerages that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $17.30.

Several brokerages have weighed in on FCF. Piper Sandler cut their price target 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. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday.

Insider Activity

In other news, EVP Michael P. Mccuen bought 2,919 shares of First Commonwealth Financial stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $16.99 per share, with a total value of $49,593.81. Following the acquisition, the executive vice president now owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. This trade represents a 5.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.97% of the company’s stock.

Institutional Investors Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCF. Franklin Resources Inc. boosted its stake in shares of 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 period. American Century Companies Inc. lifted its position in First Commonwealth Financial by 29.9% during the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after acquiring an additional 384,892 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of First Commonwealth Financial by 3.5% in the 2nd 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 last quarter. Barclays PLC increased its holdings in shares of First Commonwealth Financial by 121.8% in the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock valued at $3,631,000 after purchasing an additional 116,295 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of First Commonwealth Financial by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after purchasing an additional 105,116 shares during the last quarter. Hedge funds and other institutional investors 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 market cap of $1.92 billion, a P/E ratio of 12.72 and a beta of 0.83. First Commonwealth Financial has a 1-year low of $12.41 and a 1-year high of $19.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50-day moving average of $17.53 and a two-hundred day moving average of $16.06.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). The business had revenue of $121.21 million for 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%. First Commonwealth Financial’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, analysts anticipate that First Commonwealth Financial will post 1.4 EPS for the current year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.76%. First Commonwealth Financial’s payout ratio is currently 35.14%.

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.