First Commonwealth Financial Corporation (NYSE:FCF) Receives $19.75 Consensus Target Price from Analysts

Shares of First Commonwealth Financial Corporation (NYSE:FCF) have been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $19.75.

A number of research firms have recently issued reports on FCF. Raymond James Financial set a $20.00 price objective on shares of First Commonwealth Financial and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Piper Sandler started coverage on First Commonwealth Financial in a research note on Wednesday, December 17th. They set an “overweight” rating and a $21.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on First Commonwealth Financial from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd. Finally, DA Davidson lowered First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th.

Insider Buying and Selling at First Commonwealth Financial

In other news, CFO James R. Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $16.74, for a total value of $34,685.28. Following the transaction, the chief financial officer owned 80,311 shares in the company, valued at approximately $1,344,406.14. The trade was a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael P. Mccuen bought 3,090 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $16.19 per share, with a total value of $50,027.10. Following the completion of the acquisition, the executive vice president directly owned 62,111 shares in the company, valued at $1,005,577.09. This trade represents a 5.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.17% of the company’s stock.

Institutional Trading of First Commonwealth Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FCF. Envestnet Portfolio Solutions Inc. bought a new position in First Commonwealth Financial in the 2nd quarter worth $411,000. Vest Financial LLC raised its stake in First Commonwealth Financial by 24.9% in the second quarter. Vest Financial LLC now owns 118,422 shares of the bank’s stock worth $1,922,000 after buying an additional 23,622 shares in the last quarter. First Trust Advisors LP raised its stake in First Commonwealth Financial by 67.6% in the second quarter. First Trust Advisors LP now owns 3,597,925 shares of the bank’s stock worth $58,394,000 after buying an additional 1,451,544 shares in the last quarter. Nordea Investment Management AB lifted its holdings in First Commonwealth Financial by 1.2% in the second quarter. Nordea Investment Management AB now owns 218,420 shares of the bank’s stock worth $3,567,000 after buying an additional 2,598 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in First Commonwealth Financial by 2.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 123,795 shares of the bank’s stock valued at $2,009,000 after acquiring an additional 2,830 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Down 0.1%

Shares of NYSE FCF opened at $18.87 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $17.30 and a 200-day moving average of $16.88. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 12.92 and a beta of 0.81. First Commonwealth Financial has a 12 month low of $13.54 and a 12 month high of $19.08.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, January 27th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $137.82 million during the quarter, compared to analyst estimates of $135.63 million. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. First Commonwealth Financial’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 earnings per share. Sell-side analysts expect that First Commonwealth Financial will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 6th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.9%. First Commonwealth Financial’s dividend payout ratio is 36.99%.

First Commonwealth Financial declared that its board has approved a stock buyback plan on Monday, December 1st that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.