First Commonwealth Financial Corporation (NYSE:FCF) Receives $19.75 Consensus PT from Analysts

First Commonwealth Financial Corporation (NYSE:FCF) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $19.75.

Several research firms have recently commented on FCF. Piper Sandler initiated coverage on First Commonwealth Financial in a report on Wednesday, December 17th. They issued an “overweight” rating and a $21.00 price target for the company. Raymond James Financial set a $20.00 price objective on First Commonwealth Financial and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their price objective on First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd.

Insider Transactions at First Commonwealth Financial

In other news, EVP Jane Grebenc sold 18,598 shares of First Commonwealth Financial stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $18.85, for a total transaction of $350,572.30. Following the completion of the sale, the executive vice president directly owned 158,975 shares in the company, valued at approximately $2,996,678.75. This trade represents a 10.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James R. Reske sold 2,072 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $17.58, for a total value of $36,425.76. Following the sale, the chief financial officer directly owned 85,492 shares in the company, valued at $1,502,949.36. This trade represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 22,742 shares of company stock worth $421,683. 2.17% of the stock is owned by insiders.

Hedge Funds Weigh In On First Commonwealth Financial

Hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in First Commonwealth Financial during the fourth quarter worth $746,000. DGS Capital Management LLC acquired a new stake in First Commonwealth Financial in the fourth quarter valued at $175,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of First Commonwealth Financial in the fourth quarter valued at $907,000. Fuller & Thaler Asset Management Inc. increased its position in shares of First Commonwealth Financial by 6.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank’s stock valued at $42,422,000 after buying an additional 162,079 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its stake in shares of First Commonwealth Financial by 23.4% during the 4th quarter. Voloridge Investment Management LLC now owns 367,438 shares of the bank’s stock worth $6,195,000 after buying an additional 69,728 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Trading Up 1.5%

NYSE FCF opened at $17.10 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.75 billion, a P/E ratio of 11.71 and a beta of 0.79. First Commonwealth Financial has a 52-week low of $13.54 and a 52-week high of $19.08. The firm has a 50-day moving average price of $17.73 and a 200 day moving average price of $17.05.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Wednesday, January 28th. The bank reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.The company had revenue of $137.82 million for the quarter, compared to analyst estimates of $135.63 million. During the same quarter in the previous year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts expect that First Commonwealth Financial will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, February 6th. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 36.99%.

First Commonwealth Financial announced that its Board of Directors has approved a stock buyback plan on Monday, December 1st that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.