Brokerages Set First Commonwealth Financial Corporation (NYSE:FCF) Price Target at $18.92

Shares of First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $18.92.

FCF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. Royal Bank Of Canada cut their price target on First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen cut First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Wednesday, May 7th.

First Commonwealth Financial Stock Performance

Shares of FCF stock traded up $0.29 during midday trading on Monday, hitting $16.94. The company had a trading volume of 858,181 shares, compared to its average volume of 636,166. The company's 50 day simple moving average is $16.08 and its 200 day simple moving average is $15.92. First Commonwealth Financial has a 52-week low of $13.54 and a 52-week high of $19.96. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 12.64 and a beta of 0.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. First Commonwealth Financial had a return on equity of 9.80% and a net margin of 19.68%. The firm had revenue of $118.51 million for the quarter, compared to the consensus estimate of $117.70 million. During the same period in the previous year, the business earned $0.37 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts anticipate that First Commonwealth Financial will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.54 annualized dividend and a yield of 3.19%. This is a boost from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's dividend payout ratio is presently 40.30%.

Insider Transactions at First Commonwealth Financial

In related news, Director Todd D. Brice purchased 7,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average cost of $16.09 per share, for a total transaction of $112,630.00. Following the transaction, the director owned 10,500 shares of the company's stock, valued at $168,945. This trade represents a 200.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.17% of the stock is owned by insiders.

Hedge Funds Weigh In On First Commonwealth Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE boosted its stake in First Commonwealth Financial by 2,911.4% during the 1st quarter. US Bancorp DE now owns 2,379 shares of the bank's stock valued at $37,000 after purchasing an additional 2,300 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in First Commonwealth Financial during the 4th quarter valued at $42,000. Sterling Capital Management LLC boosted its stake in First Commonwealth Financial by 815.8% during the 4th quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank's stock valued at $54,000 after purchasing an additional 2,839 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in First Commonwealth Financial by 56.8% during the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank's stock valued at $57,000 after purchasing an additional 1,227 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in First Commonwealth Financial by 109.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,438 shares of the bank's stock valued at $72,000 after purchasing an additional 2,321 shares in the last quarter. 72.58% of the stock is owned by institutional investors.

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.