Analysts Set First Commonwealth Financial Corporation (NYSE:FCF) PT at $19.75

First Commonwealth Financial Corporation (NYSE:FCF) has received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $19.75.

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. Raymond James Financial set a $20.00 price objective on First Commonwealth Financial and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Piper Sandler initiated coverage on First Commonwealth Financial in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $21.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on First Commonwealth Financial from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, January 29th. Finally, DA Davidson downgraded First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th.

First Commonwealth Financial Trading Up 1.7%

Shares of First Commonwealth Financial stock opened at $18.58 on Friday. First Commonwealth Financial has a fifty-two week low of $13.54 and a fifty-two week high of $18.68. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.72 and a beta of 0.81. The stock has a 50 day moving average of $17.20 and a 200 day moving average of $16.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.95.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $137.82 million during the quarter, compared to analyst estimates of $135.63 million. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 earnings per share. As a group, research analysts predict that First Commonwealth Financial will post 1.45 earnings per share for the current year.

First Commonwealth Financial announced that its board has authorized a stock buyback plan on Monday, December 1st that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the bank to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

First Commonwealth Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 6th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, February 6th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 36.99%.

Insider Buying and Selling

In related news, CFO James R. Reske sold 2,072 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $16.74, for a total transaction of $34,685.28. Following the sale, the chief financial officer owned 80,311 shares of the company’s stock, valued at $1,344,406.14. This trade represents a 2.52% 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. Also, EVP Michael P. Mccuen purchased 3,090 shares of the business’s stock in a transaction on Friday, November 21st. The stock was acquired at an average price of $16.19 per share, with a total value of $50,027.10. Following the completion of the acquisition, the executive vice president directly owned 62,111 shares in the company, valued at $1,005,577.09. The trade was a 5.24% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 5,555 shares of company stock valued at $90,752. Corporate insiders own 2.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FCF. State Street Corp increased its stake in shares of First Commonwealth Financial by 2.4% in the second quarter. State Street Corp now owns 4,734,957 shares of the bank’s stock worth $76,848,000 after buying an additional 112,731 shares during the last quarter. Franklin Resources Inc. grew its position in shares of First Commonwealth Financial by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,943,604 shares of the bank’s stock valued at $67,238,000 after buying an additional 21,061 shares during the last quarter. First Trust Advisors LP raised its stake in First Commonwealth Financial by 67.6% during the second quarter. First Trust Advisors LP now owns 3,597,925 shares of the bank’s stock worth $58,394,000 after acquiring an additional 1,451,544 shares during the period. Geode Capital Management LLC raised its stake in First Commonwealth Financial by 2.3% during the second quarter. Geode Capital Management LLC now owns 2,528,250 shares of the bank’s stock worth $41,039,000 after acquiring an additional 56,324 shares during the period. Finally, Millennium Management LLC lifted its holdings in First Commonwealth Financial by 112.9% in the third quarter. Millennium Management LLC now owns 1,091,740 shares of the bank’s stock worth $18,614,000 after acquiring an additional 578,893 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Company Profile

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.