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

First Commonwealth Financial Corporation (NYSE:FCF) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $19.75.

FCF has been the topic of a number of research analyst reports. 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 target on shares of First Commonwealth Financial and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price objective on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Finally, Piper Sandler initiated coverage on First Commonwealth Financial in a report on Wednesday, December 17th. They set an “overweight” rating and a $21.00 target price on the stock.

First Commonwealth Financial Stock Down 1.2%

Shares of NYSE:FCF opened at $17.24 on Friday. The stock’s 50-day moving average is $17.73 and its 200 day moving average is $17.04. The company has a market cap of $1.76 billion, a PE ratio of 11.81 and a beta of 0.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.92. First Commonwealth Financial has a 1 year low of $13.54 and a 1 year high of $19.08.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Wednesday, January 28th. The bank reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.The firm had revenue of $137.82 million for the quarter, compared to analyst estimates of $135.63 million. During the same period last year, the company earned $0.35 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. Sell-side analysts anticipate that First Commonwealth Financial will post 1.45 EPS for the current year.

First Commonwealth Financial announced that its Board of Directors has authorized a share buyback program on Monday, December 1st that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, February 6th. First Commonwealth Financial’s dividend payout ratio (DPR) is 36.99%.

Insider Activity at First Commonwealth Financial

In other news, CFO James R. Reske sold 2,072 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $17.58, for a total transaction of $36,425.76. Following the completion of the transaction, the chief financial officer directly owned 85,492 shares in the company, valued at $1,502,949.36. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jane Grebenc sold 18,598 shares of First Commonwealth Financial stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $18.85, for a total value of $350,572.30. Following the completion of the transaction, the executive vice president directly owned 158,975 shares of the company’s stock, valued at approximately $2,996,678.75. This represents a 10.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,742 shares of company stock valued at $421,683 over the last quarter. Company insiders own 2.17% of the company’s stock.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of First Commonwealth Financial by 2,250.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock valued at $42,000 after buying an additional 2,498 shares during the period. Smithfield Trust Co bought a new stake in shares of First Commonwealth Financial during the 4th quarter valued at $51,000. TD Private Client Wealth LLC increased 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 worth $61,000 after purchasing an additional 621 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in First Commonwealth Financial during the third quarter valued at $85,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of First Commonwealth Financial by 58.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock valued at $91,000 after buying an additional 1,950 shares in the last quarter. 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.