First Commonwealth Financial (NYSE:FCF) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Friday, August 7th will be paid a dividend of 0.11 per share by the bank on Friday, August 21st. This represents a $0.44 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend is Thursday, August 6th.
First Commonwealth Financial has raised its dividend by an average of 42.9% per year over the last three years and has increased its dividend every year for the last 3 years. First Commonwealth Financial has a dividend payout ratio of 71.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Commonwealth Financial to earn $0.72 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 61.1%.
Shares of NYSE:FCF traded down $0.35 on Thursday, hitting $7.91. The company’s stock had a trading volume of 6,314 shares, compared to its average volume of 579,141. The company has a market capitalization of $776.29 million, a price-to-earnings ratio of 9.95 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. First Commonwealth Financial has a 12 month low of $6.77 and a 12 month high of $14.93. The stock’s 50-day moving average is $7.93 and its two-hundred day moving average is $9.94.
First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.15. The business had revenue of $88.86 million during the quarter, compared to the consensus estimate of $87.56 million. First Commonwealth Financial had a net margin of 20.32% and a return on equity of 8.07%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. Equities analysts expect that First Commonwealth Financial will post 0.61 earnings per share for the current fiscal year.
Several research firms have recently issued reports on FCF. Piper Sandler cut shares of First Commonwealth Financial from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $11.00 to $10.00 in a report on Friday, May 1st. DA Davidson decreased their price target on First Commonwealth Financial from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Zacks Investment Research upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, June 30th. ValuEngine upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $9.00 target price on shares of First Commonwealth Financial in a report on Monday, July 20th. Six equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $10.40.
In related news, EVP Matthew C. Tomb acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $6.93 per share, for a total transaction of $27,720.00. Following the transaction, the executive vice president now owns 63,647 shares of the company’s stock, valued at $441,073.71. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.53% of the stock is currently owned by corporate insiders.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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.
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