First Commonwealth Financial Corporation (NYSE:FCF) Receives $18.90 Consensus PT from Analysts

Key Points

• First Commonwealth Financial Corporation has received a consensus rating of "Moderate Buy" from five analysts, with an average twelve-month target price of $18.90.
• The company reported $0.38 EPS in its most recent quarterly earnings, surpassing the consensus estimate by $0.04 and achieving revenue of $131.33 million.
• First Commonwealth Financial declared a quarterly dividend of $0.135 per share, resulting in an annualized dividend yield of 3.0%.

Shares of First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.90.

Separately, Wall Street Zen upgraded shares of First Commonwealth Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd.

First Commonwealth Financial Stock Performance

Shares of FCF traded up $0.01 during trading hours on Tuesday, hitting $17.69. The stock had a trading volume of 353,067 shares, compared to its average volume of 487,080. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50-day moving average price of $16.88 and a 200 day moving average price of $15.99. First Commonwealth Financial has a fifty-two week low of $13.54 and a fifty-two week high of $19.96. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 13.60 and a beta of 0.85.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. First Commonwealth Financial had a net margin of 18.94% and a return on equity of 9.71%. The firm had revenue of $131.33 million during the quarter, compared to analysts' expectations of $125.88 million. During the same period in the previous year, the business posted $0.37 EPS. As a group, research analysts anticipate that First Commonwealth Financial will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 8th. First Commonwealth Financial's dividend payout ratio (DPR) is presently 41.54%.

Insider Transactions at First Commonwealth Financial

In other First Commonwealth Financial news, CFO James R. Reske sold 2,190 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $16.66, for a total transaction of $36,485.40. Following the transaction, the chief financial officer directly owned 90,246 shares of the company's stock, valued at $1,503,498.36. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Commonwealth Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in First Commonwealth Financial by 2.4% during the second quarter. State Street Corp now owns 4,734,957 shares of the bank's stock valued at $76,848,000 after purchasing an additional 112,731 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in First Commonwealth Financial by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,159,706 shares of the bank's stock valued at $64,642,000 after purchasing an additional 203,052 shares in the last quarter. Franklin Resources Inc. lifted its holdings in First Commonwealth Financial by 22.5% during the second quarter. Franklin Resources Inc. now owns 3,922,543 shares of the bank's stock valued at $63,663,000 after purchasing an additional 719,680 shares in the last quarter. First Trust Advisors LP raised its position in shares of First Commonwealth Financial by 67.6% in the second quarter. First Trust Advisors LP now owns 3,597,925 shares of the bank's stock valued at $58,394,000 after buying an additional 1,451,544 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of First Commonwealth Financial by 2.3% in the second quarter. Geode Capital Management LLC now owns 2,528,250 shares of the bank's stock valued at $41,039,000 after buying an additional 56,324 shares during the last quarter. 72.58% of the stock is 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.