First Commonwealth Financial Co. (NYSE:FCF) Receives $19.58 Average Price Target from Analysts

First Commonwealth Financial Co. (NYSE:FCF) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $18.92.

Several brokerages have recently issued reports on FCF. Stephens reaffirmed an “overweight” rating and set a $21.50 price target on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Royal Bank of Canada reduced their target price on shares of First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of First Commonwealth Financial from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, DA Davidson reiterated a “buy” rating and set a $21.00 target price on shares of First Commonwealth Financial in a research report on Thursday, January 30th.

First Commonwealth Financial Stock Up 2.5 %

Shares of NYSE:FCF opened at $15.89 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.62 billion, a P/E ratio of 11.43 and a beta of 0.72. First Commonwealth Financial has a 12 month low of $12.71 and a 12 month high of $19.96. The company’s 50-day moving average price is $15.27 and its two-hundred day moving average price is $16.62.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. The business had revenue of $118.51 million during the quarter, compared to analyst estimates of $117.70 million. During the same quarter last year, the business posted $0.37 earnings per share. First Commonwealth Financial’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts forecast that First Commonwealth Financial will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a 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 is presently 40.30%.

Hedge Funds Weigh In On First Commonwealth Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. MQS Management LLC bought a new position in First Commonwealth Financial during the first quarter worth about $292,000. CWM LLC raised its position in shares of First Commonwealth Financial by 73.6% during the first quarter. CWM LLC now owns 7,932 shares of the bank’s stock worth $123,000 after purchasing an additional 3,362 shares during the period. Cerity Partners LLC bought a new position in shares of First Commonwealth Financial during the 1st quarter valued at about $163,000. Envestnet Asset Management Inc. grew its position in shares of First Commonwealth Financial by 52.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 41,877 shares of the bank’s stock valued at $651,000 after purchasing an additional 14,419 shares during the period. Finally, D.A. Davidson & CO. increased its stake in First Commonwealth Financial by 26.0% during the 1st quarter. D.A. Davidson & CO. now owns 23,815 shares of the bank’s stock worth $370,000 after purchasing an additional 4,911 shares in the last quarter. Institutional investors and hedge funds 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.