First Commonwealth Financial Corporation (NYSE:FCF) Receives $20.33 Consensus Target Price from Analysts

First Commonwealth Financial Corporation (NYSE:FCF) has been given an average rating of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.3333.

Several brokerages recently weighed in on FCF. Weiss Ratings restated a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price objective on First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th.

First Commonwealth Financial Price Performance

FCF opened at $18.06 on Friday. The stock has a 50-day moving average price of $17.94 and a 200-day moving average price of $17.40. First Commonwealth Financial has a 12-month low of $15.00 and a 12-month high of $19.14. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.84 billion, a P/E ratio of 11.96 and a beta of 0.75.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $133.70 million for the quarter, compared to analysts’ expectations of $134.32 million. First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. Equities analysts predict that First Commonwealth Financial will post 1.71 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be issued a $0.14 dividend. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 3.1%. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.09%.

Insider Activity at First Commonwealth Financial

In other First Commonwealth Financial news, CFO James R. Reske sold 2,072 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $18.52, for a total value of $38,373.44. Following the completion of the sale, the chief financial officer owned 81,348 shares in the company, valued at approximately $1,506,564.96. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Norman J. Montgomery sold 12,964 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $18.37, for a total value of $238,148.68. Following the completion of the sale, the executive vice president owned 50,104 shares of the company’s stock, valued at approximately $920,410.48. This trade represents a 20.56% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 44,180 shares of company stock valued at $808,454. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of First Commonwealth Financial by 2,250.5% in 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 purchased a new position in shares of First Commonwealth Financial in the 4th quarter valued at approximately $51,000. TD Private Client Wealth LLC lifted its stake 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 valued at $61,000 after purchasing an additional 621 shares during the period. iSAM Funds UK Ltd purchased a new position in shares of First Commonwealth Financial in the 3rd quarter valued at approximately $85,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of First Commonwealth Financial by 58.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock valued at $91,000 after purchasing an additional 1,950 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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.