First Commonwealth Financial Co. (NYSE:FCF) Receives $17.50 Average Target Price from Analysts

Shares of First Commonwealth Financial Co. (NYSE:FCF) have earned an average rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.50.

Several research analysts recently weighed in on FCF shares. Janney Montgomery Scott cut First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $19.00 in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their price objective on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. StockNews.com lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised their price objective on First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler lifted their price target on First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th.

Insider Buying and Selling

In related news, EVP Michael P. Mccuen acquired 2,919 shares of First Commonwealth Financial stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the transaction, the executive vice president now owns 57,623 shares in the company, valued at $979,014.77. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors have recently added to or reduced their stakes in FCF. American Century Companies Inc. lifted its position in First Commonwealth Financial by 29.9% during the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after buying an additional 384,892 shares in the last quarter. Dimensional Fund Advisors LP raised its position in First Commonwealth Financial by 3.5% in the second 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 period. First Commonwealth Financial Corp PA raised its position in First Commonwealth Financial by 6.9% in the first quarter. First Commonwealth Financial Corp PA now owns 960,725 shares of the bank’s stock valued at $13,373,000 after purchasing an additional 61,823 shares during the period. Intech Investment Management LLC purchased a new stake in First Commonwealth Financial in the second quarter valued at $834,000. Finally, Hantz Financial Services Inc. purchased a new stake in First Commonwealth Financial in the second quarter valued at $693,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Trading Up 0.6 %

Shares of NYSE:FCF opened at $17.09 on Friday. First Commonwealth Financial has a 52-week low of $11.16 and a 52-week high of $19.01. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 10.61 and a beta of 0.83. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $16.60 and a 200-day moving average price of $15.00.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.34 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. First Commonwealth Financial’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. Equities analysts predict that First Commonwealth Financial will post 1.44 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were given a dividend of $0.13 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 3.04%. First Commonwealth Financial’s payout ratio is 32.30%.

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.