First Commonwealth Financial Co. (NYSE:FCF) Given Average Recommendation of “Hold” by Analysts

First Commonwealth Financial Co. (NYSE:FCF) has earned a consensus recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $17.70.

FCF has been the topic of a number of research analyst reports. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 1st. Keefe, Bruyette & Woods boosted their price target on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler decreased their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st.

Hedge Funds Weigh In On First Commonwealth Financial

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in First Commonwealth Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock valued at $96,503,000 after buying an additional 233,955 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after buying an additional 105,116 shares in the last quarter. Franklin Resources Inc. boosted its stake in First Commonwealth Financial by 15.3% in the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock valued at $58,601,000 after buying an additional 456,119 shares in the last quarter. Principal Financial Group Inc. grew its position in First Commonwealth Financial by 7.2% in the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock valued at $9,243,000 after acquiring an additional 36,001 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in First Commonwealth Financial by 7.5% during the second quarter. Public Sector Pension Investment Board now owns 224,418 shares of the bank’s stock worth $3,099,000 after acquiring an additional 15,752 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Performance

Shares of FCF stock opened at $16.48 on Monday. First Commonwealth Financial has a one year low of $12.41 and a one year high of $19.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $1.68 billion, a PE ratio of 11.14 and a beta of 0.88. The stock has a 50-day moving average of $17.55 and a 200-day moving average of $17.09.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The firm had revenue of $121.21 million during the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. First Commonwealth Financial’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, sell-side analysts expect that First Commonwealth Financial will post 1.4 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

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.