First Commonwealth Financial Corporation (FCF) – What Are Brokerages Thinking About This Stock?

Shares of First Commonwealth Financial Corporation (NYSE:FCF) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $24.00.

FCF has been the subject of several recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $24.00 target price on shares of First Commonwealth Financial in a research note on Friday, July 31st. Royal Bank Of Canada upped their price objective on First Commonwealth Financial from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Piper Sandler restated an “overweight” rating and issued a $25.00 price target (up from $21.00) on shares of First Commonwealth Financial in a research note on Thursday, July 30th. Weiss Ratings raised First Commonwealth Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, November 2nd. Finally, Keefe, Bruyette & Woods raised their price target on First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 31st.

Insider Transactions at First Commonwealth Financial

In related news, CFO James Reske sold 2,250 shares of First Commonwealth Financial stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $21.91, for a total transaction of $49,297.50. Following the transaction, the chief financial officer directly owned 68,738 shares of the company’s stock, valued at $1,506,049.58. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,394 shares of company stock worth $135,845 over the last quarter. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently modified their holdings of FCF. Weiss Asset Management LP bought a new position in First Commonwealth Financial in the first quarter worth $1,751,000. Bank of America Corp DE boosted its stake in First Commonwealth Financial by 95.4% during the first quarter. Bank of America Corp DE now owns 559,989 shares of the bank’s stock worth $9,845,000 after buying an additional 273,351 shares in the last quarter. Renaissance Technologies LLC boosted its stake in First Commonwealth Financial by 453.3% during the first quarter. Renaissance Technologies LLC now owns 215,591 shares of the bank’s stock worth $3,790,000 after buying an additional 176,626 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in First Commonwealth Financial in the 2nd quarter valued at $22,028,000. Finally, Tidal Investments LLC bought a new stake in First Commonwealth Financial in the 2nd quarter valued at $706,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Price Performance

Shares of FCF stock opened at $20.89 on Friday. The firm has a fifty day simple moving average of $20.77 and a 200-day simple moving average of $19.52. The company has a market capitalization of $2.11 billion, a PE ratio of 12.36 and a beta of 0.72. First Commonwealth Financial has a twelve month low of $15.30 and a twelve month high of $22.34. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, October 27th. The bank reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). The firm had revenue of $143.34 million during the quarter, compared to the consensus estimate of $141.36 million. First Commonwealth Financial had a net margin of 23.06% and a return on equity of 11.17%. Equities research analysts anticipate that First Commonwealth Financial will post 1.74 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be issued a $0.14 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. First Commonwealth Financial’s dividend payout ratio is 33.14%.

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 financial services to consumers, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.

First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.