First Commonwealth Financial Co. (NYSE:FCF) Given Average Recommendation of “Hold” by Brokerages

Shares of First Commonwealth Financial Co. (NYSE:FCF) have been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.70.

FCF has been the subject of several research analyst reports. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 1st. Piper Sandler decreased their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock opened at $16.48 on Monday. First Commonwealth Financial has a 52 week low of $12.41 and a 52 week high of $19.96. The company’s 50 day moving average price is $17.55 and its two-hundred day moving average price is $17.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.68 billion, a P/E ratio of 11.14 and a beta of 0.88.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The company had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts predict that First Commonwealth Financial will post 1.4 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 3.15%. First Commonwealth Financial’s dividend payout ratio is 35.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in shares of First Commonwealth Financial by 2,572.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,595 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of First Commonwealth Financial during the 3rd quarter valued at $46,000. CWM LLC grew its position in shares of First Commonwealth Financial by 92.0% during the 3rd quarter. CWM LLC now owns 3,830 shares of the bank’s stock valued at $66,000 after purchasing an additional 1,835 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of First Commonwealth Financial during the 3rd quarter valued at $72,000. Finally, KBC Group NV grew its position in shares of First Commonwealth Financial by 61.6% during the 4th quarter. KBC Group NV now owns 5,842 shares of the bank’s stock valued at $99,000 after purchasing an additional 2,226 shares in the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

About First Commonwealth Financial

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.