First Commonwealth Financial Corporation (NYSE:FCF) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Broker sentiment is constructive: First Commonwealth Financial has a consensus rating of “Moderate Buy” from six analysts, with three Buy ratings and three Hold ratings. The average 12-month price target is about $20.33.
• Recent results were mixed: The bank reported $0.37 EPS for the latest quarter, slightly below estimates of $0.40, while revenue also came in just under expectations at $133.7 million. However, revenue still rose 12.9% year over year.
• The company continues to return cash to shareholders: First Commonwealth declared a quarterly dividend of $0.14 per share, equal to a 3.0% annualized yield. Insiders have recently sold shares, while institutional investors remain heavily involved with 72.58% ownership.

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $20.3333.

Several research analysts recently weighed in on FCF shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price target on First Commonwealth Financial from $19.00 to $20.00 and gave the company a "market perform" rating in a research report on Thursday, January 29th.

First Commonwealth Financial Stock Performance

Shares of FCF stock opened at $18.58 on Friday. First Commonwealth Financial has a 52-week low of $15.00 and a 52-week high of $19.14. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.90 billion, a PE ratio of 12.30 and a beta of 0.75. The business has a 50-day simple moving average of $17.89 and a 200-day simple moving average of $17.32.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its earnings results on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). The company had revenue of $133.70 million during the quarter, compared to analysts' expectations of $134.32 million. First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The firm's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. On average, equities analysts expect that First Commonwealth Financial will post 1.71 EPS for the current year.

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a dividend of $0.14 per share. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, May 8th. First Commonwealth Financial's dividend payout ratio (DPR) is 35.76%.

Insider Activity at First Commonwealth Financial

In related news, CFO James R. Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $18.52, for a total transaction of $38,373.44. Following the completion of the transaction, the chief financial officer directly owned 81,348 shares in the company, valued at approximately $1,506,564.96. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Norman J. Montgomery sold 25,000 shares of First Commonwealth Financial stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $18.34, for a total value of $458,500.00. Following the transaction, the executive vice president owned 63,068 shares of the company's stock, valued at approximately $1,156,667.12. This represents a 28.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 44,180 shares of company stock valued at $808,454. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds have recently bought and sold shares of FCF. EverSource Wealth Advisors LLC boosted its position in First Commonwealth Financial by 2,250.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank's stock worth $42,000 after purchasing an additional 2,498 shares in the last quarter. Smithfield Trust Co purchased a new position in First Commonwealth Financial during the fourth quarter worth approximately $51,000. TD Private Client Wealth LLC boosted its position in First Commonwealth Financial by 20.7% during the fourth quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank's stock worth $61,000 after purchasing an additional 621 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in First Commonwealth Financial during the third quarter worth approximately $85,000. Finally, Smartleaf Asset Management LLC boosted its position in First Commonwealth Financial by 58.5% during the third quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank's stock worth $91,000 after purchasing an additional 1,950 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company's stock.

About First Commonwealth Financial

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.

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