First Commonwealth Financial Co. (NYSE:FCF) Declares Quarterly Dividend of $0.13

First Commonwealth Financial Co. (NYSE:FCF) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, May 3rd will be paid a dividend of 0.13 per share by the bank on Friday, May 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.13.

First Commonwealth Financial has raised its dividend payment by an average of 4.0% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. First Commonwealth Financial has a dividend payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Commonwealth Financial to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 34.2%.

First Commonwealth Financial Trading Down 1.3 %

Shares of FCF traded down $0.17 during trading on Wednesday, reaching $13.41. 68,916 shares of the company traded hands, compared to its average volume of 511,180. First Commonwealth Financial has a twelve month low of $11.16 and a twelve month high of $15.90. The stock has a market cap of $1.37 billion, a PE ratio of 8.73 and a beta of 0.87. The stock has a 50-day simple moving average of $13.27 and a 200-day simple moving average of $13.60. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.14.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $116.60 million during the quarter, compared to the consensus estimate of $119.80 million. First Commonwealth Financial had a net margin of 25.07% and a return on equity of 13.78%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, analysts anticipate that First Commonwealth Financial will post 1.44 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on FCF shares. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of First Commonwealth Financial in a research report on Tuesday, April 9th. Stephens reduced their price target on shares of First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Finally, StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health 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.