First Commonwealth Financial Corporation (NYSE:FCF) Receives Consensus Recommendation of “Moderate Buy” from Analysts

First Commonwealth Financial Corporation (NYSE:FCF) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.25.

FCF has been the topic of a number of recent analyst reports. Raymond James Financial reissued an “outperform” rating and set a $24.00 target price on shares of First Commonwealth Financial in a report on Friday, July 31st. Keefe, Bruyette & Woods raised their price objective on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Piper Sandler reissued an “overweight” rating and set a $25.00 price target (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada boosted their target price on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th.

Insider Buying and Selling

In other news, CFO James R. Reske sold 2,072 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $21.85, for a total transaction of $45,273.20. Following the sale, the chief financial officer directly owned 75,132 shares of the company’s stock, valued at approximately $1,641,634.20. This represents a 2.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Mccuen sold 5,250 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total value of $97,545.00. Following the completion of the transaction, the executive vice president owned 56,861 shares in the company, valued at $1,056,477.38. The trade was a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 11,466 shares of company stock valued at $224,517. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Commonwealth Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in shares of First Commonwealth Financial during the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC raised its position in First Commonwealth Financial by 2,250.5% during the second 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 in the last quarter. Smithfield Trust Co bought a new stake in First Commonwealth Financial during the fourth quarter worth $51,000. TD Private Client Wealth LLC lifted its stake in First Commonwealth Financial by 20.7% during the fourth 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 during the last quarter. Finally, iSAM Funds UK Ltd bought a new position in shares of First Commonwealth Financial in the 3rd quarter valued at $85,000. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Performance

Shares of FCF stock opened at $21.51 on Tuesday. The company has a fifty day moving average price of $20.67 and a two-hundred day moving average price of $19.04. First Commonwealth Financial has a one year low of $15.00 and a one year high of $22.34. The stock has a market cap of $2.17 billion, a P/E ratio of 13.20 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $139.42 million for the quarter, compared to analyst estimates of $137.48 million. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%. As a group, equities analysts predict that First Commonwealth Financial will post 1.73 EPS for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.56 annualized dividend and a dividend yield of 2.6%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 34.36%.

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.