First Commonwealth Financial Co. (NYSE:FCF) Plans Quarterly Dividend of $0.13

First Commonwealth Financial Co. (NYSE:FCF) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, May 3rd will be given a dividend of 0.13 per share by the bank on Friday, May 17th. This represents a $0.52 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Thursday, May 2nd. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.13.

First Commonwealth Financial has raised its dividend payment by an average of 4.0% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. First Commonwealth Financial has a dividend payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Commonwealth Financial to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 34.2%.

First Commonwealth Financial Stock Down 0.8 %

NYSE:FCF traded down $0.11 on Wednesday, reaching $13.47. The stock had a trading volume of 40,589 shares, compared to its average volume of 510,651. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $13.27 and a 200 day moving average of $13.60. The stock has a market cap of $1.38 billion, a P/E ratio of 8.73 and a beta of 0.87. First Commonwealth Financial has a 12-month low of $11.16 and a 12-month high of $15.90.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $116.60 million during the quarter, compared to analysts’ expectations of $119.80 million. First Commonwealth Financial had a net margin of 25.07% and a return on equity of 13.78%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. On average, research analysts predict that First Commonwealth Financial will post 1.44 earnings per share for the current year.

Analysts Set New Price Targets

FCF has been the topic of several research analyst reports. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of First Commonwealth Financial in a research report on Tuesday, April 9th. Finally, Stephens reduced their price target on shares of First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (atm) services, as well as internet, mobile, and telephone banking services.