First Commonwealth Financial Corporation (NYSE:FCF) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst sentiment is moderately bullish: Six analysts give First Commonwealth Financial an average “Moderate Buy” rating, with four buys and two holds. The average 12-month price target is $24.00, above the reported $20.97 share price.
• Quarterly results were mixed: The bank reported earnings of $0.45 per share, slightly below the $0.46 consensus, while revenue of $143.34 million exceeded expectations of $141.36 million.
• Shareholders will receive a dividend: First Commonwealth declared a quarterly dividend of $0.14 per share, equivalent to $0.56 annually and a 2.7% yield. Institutional investors own 72.58% of the company, while insiders have recently reported stock sales.

Shares of First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $24.00.

A number of research analysts recently issued reports on FCF shares. DA Davidson set a $23.00 price objective on shares of First Commonwealth Financial in a research note on Thursday. Raymond James Financial restated an "outperform" rating and set a $24.00 target price on shares of First Commonwealth Financial in a research note on Friday, July 31st. Royal Bank Of Canada raised their target price on First Commonwealth Financial from $23.00 to $24.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Piper Sandler reiterated an "overweight" rating and issued a $25.00 price target (up from $21.00) on shares of First Commonwealth Financial in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods boosted their price target on First Commonwealth Financial from $21.00 to $24.00 and gave the stock a "market perform" rating in a report on Friday, July 31st.

First Commonwealth Financial Trading Down 0.2%

FCF stock opened at $20.97 on Friday. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 12.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92. The company has a fifty day moving average price of $20.73 and a two-hundred day moving average price of $19.42. First Commonwealth Financial has a one year low of $15.00 and a one year high of $22.34.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The bank reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). The business had revenue of $143.34 million for the quarter, compared to the consensus estimate of $141.36 million. First Commonwealth Financial had a return on equity of 11.17% and a net margin of 23.06%. Equities analysts anticipate that First Commonwealth Financial will post 1.74 EPS for the current year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, November 6th. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. First Commonwealth Financial's dividend payout ratio is 33.14%.

Insiders Place Their Bets

In other news, CFO James Reske sold 2,072 shares of the business's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $20.52, for a total transaction of $42,517.44. Following the sale, the chief financial officer directly owned 70,988 shares in the company, valued at approximately $1,456,673.76. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,216 shares of company stock worth $131,821. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new position in shares of First Commonwealth Financial during the first quarter valued at about $1,751,000. Bank of America Corp DE boosted its position in shares of First Commonwealth Financial by 95.4% during the 1st quarter. Bank of America Corp DE now owns 559,989 shares of the bank's stock worth $9,845,000 after purchasing an additional 273,351 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of First Commonwealth Financial by 453.3% during the 1st quarter. Renaissance Technologies LLC now owns 215,591 shares of the bank's stock worth $3,790,000 after purchasing an additional 176,626 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in First Commonwealth Financial in the 2nd quarter valued at about $22,028,000. Finally, Tidal Investments LLC acquired a new position in First Commonwealth Financial during the 2nd quarter worth approximately $706,000. Institutional investors own 72.58% of the company's stock.

About First Commonwealth Financial

First Commonwealth Financial Corporation NYSE: FCF is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides financial services to consumers, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.

First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.

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