Analysts Set First Commonwealth Financial Corporation (NYSE:FCF) PT at $24.25

Shares of First Commonwealth Financial Corporation (NYSE:FCF) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $24.25.

FCF has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price target on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Raymond James Financial reissued an “outperform” rating and issued a $24.00 price objective on shares of First Commonwealth Financial in a research note on Friday, July 31st. Keefe, Bruyette & Woods upped their target price on First Commonwealth Financial from $21.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Friday, August 14th.

First Commonwealth Financial Stock Performance

FCF opened at $20.98 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. First Commonwealth Financial has a 52-week low of $15.00 and a 52-week high of $22.34. The firm has a market cap of $2.12 billion, a P/E ratio of 12.87 and a beta of 0.75. The business’s fifty day moving average is $20.82 and its 200-day moving average is $19.15.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%.The business had revenue of $139.42 million during the quarter, compared to the consensus estimate of $137.48 million. Sell-side analysts expect that First Commonwealth Financial will post 1.73 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, August 7th. First Commonwealth Financial’s dividend payout ratio is currently 34.36%.

Insider Buying and Selling at First Commonwealth Financial

In other news, EVP Michael P. Mccuen sold 5,250 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total transaction of $97,545.00. Following the sale, the executive vice president directly owned 56,861 shares in the company, valued at approximately $1,056,477.38. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James R. Reske sold 2,072 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $21.85, for a total value of $45,273.20. Following the completion of the transaction, the chief financial officer directly owned 75,132 shares of the company’s stock, valued at $1,641,634.20. This represents a 2.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,466 shares of company stock valued at $224,517 over the last quarter. Company insiders own 1.90% of the company’s stock.

Institutional Trading of First Commonwealth Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in First Commonwealth Financial during the 2nd quarter worth about $32,000. EverSource Wealth Advisors LLC increased its position in First Commonwealth Financial by 2,250.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock valued at $42,000 after purchasing an additional 2,498 shares during the period. Smithfield Trust Co bought a new position in First Commonwealth Financial during the 4th quarter worth approximately $51,000. TD Private Client Wealth LLC lifted its position in shares of 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 worth $61,000 after purchasing an additional 621 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in First Commonwealth Financial during the third quarter worth $85,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

About First Commonwealth Financial

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.