First Commonwealth Financial Corporation (NYSE:FCF) Stock Rated “Moderate Buy” by Sell-Side Analysts

First Commonwealth Financial Corporation (NYSE:FCF) has received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four 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 $24.20.

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a report on Friday, August 14th. Royal Bank Of Canada upped their price objective on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Piper Sandler restated an “overweight” rating and set a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a research note on Thursday, July 30th. Finally, DA Davidson initiated coverage on First Commonwealth Financial in a research report on Monday, September 28th. They set a “neutral” rating and a $24.00 target price on the stock.

First Commonwealth Financial Price Performance

FCF stock opened at $19.96 on Wednesday. The stock has a 50-day moving average price of $20.93 and a two-hundred day moving average price of $19.92. First Commonwealth Financial has a 12-month low of $15.00 and a 12-month high of $22.34. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.02 billion, a PE ratio of 12.24 and a beta of 0.76.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $139.42 million during the quarter, compared to analyst estimates of $137.48 million. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%. As a group, research analysts predict that First Commonwealth Financial will post 1.72 EPS for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.56 dividend on an annualized basis and a yield of 2.8%. First Commonwealth Financial’s dividend payout ratio is currently 34.36%.

Insiders Place Their Bets

In other First Commonwealth Financial news, CFO James Reske sold 2,072 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $20.52, for a total transaction of $42,517.44. Following the completion of the sale, the chief financial officer owned 70,988 shares in the company, valued at $1,456,673.76. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,216 shares of company stock worth $131,821. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors have recently made changes to their positions in FCF. Cim Investment Management Inc. grew its position in shares of First Commonwealth Financial by 7.3% during the second quarter. Cim Investment Management Inc. now owns 11,657 shares of the bank’s stock worth $237,000 after buying an additional 789 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in First Commonwealth Financial by 11.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,039 shares of the bank’s stock valued at $489,000 after acquiring an additional 2,436 shares in the last quarter. Tidal Investments LLC acquired a new stake in First Commonwealth Financial in the second quarter valued at $706,000. MCF Advisors LLC bought a new position in First Commonwealth Financial during the 2nd quarter valued at $32,000. Finally, Engineers Gate Manager LP boosted its stake in First Commonwealth Financial by 72.6% during the 2nd quarter. Engineers Gate Manager LP now owns 41,083 shares of the bank’s stock valued at $835,000 after acquiring an additional 17,283 shares during the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation (NYSE: FCF) is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides community banking and financial services to individuals, businesses, and institutions.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, commercial lending, and other credit products. First Commonwealth also provides wealth management, trust, investment, and insurance services through affiliated and specialized business lines.

The company serves customers through banking locations and digital channels in western and central Pennsylvania and eastern Ohio.