First Commonwealth Financial Corporation (NYSE:FCF) Receives $20.33 Consensus Target Price from Brokerages

Shares of First Commonwealth Financial Corporation (NYSE:FCF) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $22.25.

FCF has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a research report on Thursday. Royal Bank Of Canada upped their price target on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of First Commonwealth Financial in a research report on Tuesday, May 19th.

Key First Commonwealth Financial News

Here are the key news stories impacting First Commonwealth Financial this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on FCF to $24 from $23 and upgraded or reaffirmed an “outperform” rating, implying approximately 11.4% upside from the referenced price. Benzinga
• Positive Sentiment: First Commonwealth reported second-quarter EPS of $0.44, ahead of the $0.42 consensus estimate and up from $0.38 a year earlier. Revenue also exceeded expectations at $139.42 million versus the $137.48 million estimate. Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management expects net interest margin to remain in the low-4% range, reiterated its $74 million-$76 million quarterly expense outlook and expanded its share-repurchase authorization. These updates suggest continued focus on profitability and capital returns. NIM and Buyback Update
• Positive Sentiment: The bank declared a quarterly dividend of $0.14 per share, supporting an annualized yield of approximately 2.6% at the referenced price.
• Neutral Sentiment: FCF reached a new 52-week high following the earnings release, indicating strong momentum but also increasing the possibility of profit-taking or short-term consolidation. New 52-Week High
• Negative Sentiment: Some brokerage estimates remain more cautious, with the average reported price target at $20.33—below the referenced trading level—which could limit near-term upside despite the RBC upgrade. Brokerage Price Targets

First Commonwealth Financial Stock Down 1.1%

NYSE:FCF opened at $21.54 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $20.01 and a 200-day moving average of $18.70. The firm has a market capitalization of $2.19 billion, a PE ratio of 13.22 and a beta of 0.74. First Commonwealth Financial has a 52 week low of $15.00 and a 52 week high of $22.34.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%.The business had revenue of $139.42 million for the quarter, compared to the consensus estimate of $137.48 million. Analysts predict that First Commonwealth Financial will post 1.71 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.14 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.56 annualized dividend and a yield of 2.6%. First Commonwealth Financial’s dividend payout ratio is 37.09%.

Insider Activity at First Commonwealth Financial

In related news, EVP Michael P. Mccuen sold 5,250 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 56,861 shares in the company, valued at $1,056,477.38. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James R. Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction on Monday, July 6th. The shares were sold at an average price of $20.50, for a total value of $42,476.00. Following the sale, the chief financial officer directly owned 77,204 shares in the company, valued at $1,582,682. The trade was a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,466 shares of company stock worth $217,617 in the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FCF. Wellington Management Group LLP bought a new stake in shares of First Commonwealth Financial during the fourth quarter valued at about $15,685,000. Millennium Management LLC lifted its holdings in First Commonwealth Financial by 112.9% in the third quarter. Millennium Management LLC now owns 1,091,740 shares of the bank’s stock worth $18,614,000 after purchasing an additional 578,893 shares during the period. Bank of America Corp DE grew its position in First Commonwealth Financial by 95.4% in the 1st quarter. Bank of America Corp DE now owns 559,989 shares of the bank’s stock valued at $9,845,000 after buying an additional 273,351 shares in the last quarter. State Street Corp grew its position in First Commonwealth Financial by 4.7% in the 4th quarter. State Street Corp now owns 4,854,021 shares of the bank’s stock valued at $81,839,000 after buying an additional 216,099 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in First Commonwealth Financial by 453.3% in the 1st quarter. Renaissance Technologies LLC now owns 215,591 shares of the bank’s stock valued at $3,790,000 after buying an additional 176,626 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

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.