First Commonwealth Financial Co. (NYSE:FCF) to Issue $0.13 Quarterly Dividend

First Commonwealth Financial Co. (NYSE:FCF) declared a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Investors of record on Friday, November 8th will be given a dividend of 0.13 per share by the bank on Friday, November 22nd. This represents a $0.52 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, November 8th.

First Commonwealth Financial has raised its dividend by an average of 4.0% per year over the last three years. First Commonwealth Financial has a dividend payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Commonwealth Financial to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 34.4%.

First Commonwealth Financial Price Performance

NYSE FCF traded down $0.06 during trading hours on Wednesday, reaching $16.88. The company’s stock had a trading volume of 673,124 shares, compared to its average volume of 511,818. The firm’s 50-day moving average price is $16.85 and its 200-day moving average price is $15.30. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a 1 year low of $12.05 and a 1 year high of $19.01. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 10.48 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The firm had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. On average, equities research analysts predict that First Commonwealth Financial will post 1.44 EPS for the current fiscal year.

Insider Activity

In other First Commonwealth Financial news, EVP Michael P. Mccuen acquired 2,919 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $16.99 per share, with a total value of $49,593.81. Following the transaction, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at $979,014.77. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FCF. Keefe, Bruyette & Woods upped their price objective on First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. StockNews.com cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price objective on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Piper Sandler boosted their target price on First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Janney Montgomery Scott downgraded First Commonwealth Financial from a “buy” rating to a “neutral” rating and boosted their target price for the company from $16.00 to $19.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.50.

About First Commonwealth Financial

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.