First Commonwealth Financial (NYSE:FCF) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of First Commonwealth Financial (NYSE:FCF) in a report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $20.00 price objective on the bank’s stock.

A number of other analysts have also recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler dropped their target price on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. StockNews.com downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Trading Up 3.1 %

Shares of NYSE FCF opened at $16.66 on Thursday. The stock has a market capitalization of $1.70 billion, a P/E ratio of 11.98 and a beta of 0.88. The stock’s 50 day moving average price is $17.39 and its two-hundred day moving average price is $17.15. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a 52-week low of $12.41 and a 52-week high of $19.96.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.38%. On average, analysts anticipate that First Commonwealth Financial will post 1.43 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, February 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.41%.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently bought and sold shares of FCF. Sei Investments Co. raised its stake in shares of First Commonwealth Financial by 12.8% in the 2nd quarter. Sei Investments Co. now owns 21,053 shares of the bank’s stock worth $291,000 after buying an additional 2,381 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of First Commonwealth Financial in the second quarter valued at $245,000. AQR Capital Management LLC boosted its stake in shares of First Commonwealth Financial by 53.8% during the 2nd quarter. AQR Capital Management LLC now owns 75,340 shares of the bank’s stock worth $1,040,000 after acquiring an additional 26,348 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of First Commonwealth Financial in the 2nd quarter worth $231,000. Finally, Algert Global LLC purchased a new stake in shares of First Commonwealth Financial during the second quarter valued at $142,000. Institutional investors own 72.58% of the company’s stock.

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.