First Commonwealth Financial Corporation (NYSE:FCF) Receives $20.33 Consensus Price Target from Analysts

Shares of First Commonwealth Financial Corporation (NYSE:FCF) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $20.3333.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of First Commonwealth Financial in a research report on Tuesday, May 19th.

First Commonwealth Financial Trading Down 0.2%

FCF opened at $20.83 on Friday. First Commonwealth Financial has a twelve month low of $15.00 and a twelve month high of $21.41. The company has a fifty day moving average of $19.78 and a 200-day moving average of $18.58. The stock has a market cap of $2.12 billion, a PE ratio of 13.79 and a beta of 0.74. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.09.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. The firm had revenue of $133.70 million for the quarter, compared to the consensus estimate of $134.32 million. During the same period last year, the company posted $0.32 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that First Commonwealth Financial will post 1.71 EPS for the current year.

First Commonwealth Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a dividend of $0.14 per share. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. First Commonwealth Financial’s payout ratio is 37.09%.

Insider Buying and Selling at First Commonwealth Financial

In other news, EVP Michael P. Mccuen sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total value of $97,545.00. Following the completion of the sale, the executive vice president directly owned 56,861 shares in the company, valued at $1,056,477.38. This trade represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James R. Reske sold 2,072 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $20.50, for a total value of $42,476.00. Following the completion of the sale, the chief financial officer directly owned 77,204 shares of the company’s stock, valued at $1,582,682. The trade was a 2.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 49,430 shares of company stock valued at $914,266. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On First Commonwealth Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of First Commonwealth Financial by 2,250.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock valued at $42,000 after buying an additional 2,498 shares during the last quarter. Smithfield Trust Co acquired a new stake in shares of First Commonwealth Financial in the 4th quarter worth about $51,000. TD Private Client Wealth LLC lifted its position in First Commonwealth Financial by 20.7% in the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after acquiring an additional 621 shares in the last quarter. iSAM Funds UK Ltd bought a new position in First Commonwealth Financial in the 3rd quarter valued at about $85,000. Finally, GAMMA Investing LLC boosted its stake in First Commonwealth Financial by 29.7% during the 4th quarter. GAMMA Investing LLC now owns 6,378 shares of the bank’s stock valued at $108,000 after purchasing an additional 1,460 shares during the last quarter. Institutional investors own 72.58% of the company’s stock.

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.