First Commonwealth Financial Corporation (NYSE:FCF) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Seven brokerages give First Commonwealth a consensus Moderate Buy (4 buys, 3 holds) with an average 1‑year price target of $19.75.
• In the latest quarter FCF reported EPS of $0.43 (beat by $0.02) and revenue of $137.82M, up 14.2% year‑over‑year, with ROE 10.43% and a net margin of 20.88%.
• The bank pays a quarterly dividend of $0.135 (annualized yield ~2.9%), insiders have sold ~22,742 shares (~$424k) in the past 90 days, and institutions own about 72.6% of the stock.

Shares of First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) have earned an average rating of "Moderate Buy" from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research 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 issued a report on the stock in the last year is $19.75.

Several research analysts have commented on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. Piper Sandler began coverage on First Commonwealth Financial in a research note on Wednesday, December 17th. They set an "overweight" rating and a $21.00 target price for the company. Raymond James Financial set a $20.00 target price on First Commonwealth Financial and gave the company an "outperform" rating in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods raised their target price on First Commonwealth Financial from $19.00 to $20.00 and gave the company a "market perform" rating in a research note on Thursday, January 29th.

First Commonwealth Financial Trading Down 0.2%

NYSE:FCF opened at $18.80 on Wednesday. The business's 50-day moving average is $17.82 and its two-hundred day moving average is $17.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.92. First Commonwealth Financial has a 12 month low of $14.11 and a 12 month high of $19.08. The firm has a market capitalization of $1.92 billion, a PE ratio of 12.88 and a beta of 0.76.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.The company had revenue of $137.82 million for the quarter, compared to analyst estimates of $135.63 million. During the same period last year, the company posted $0.35 earnings per share. The firm's revenue was up 14.2% compared to the same quarter last year. Research analysts predict that First Commonwealth Financial will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid a dividend of $0.135 per share. The ex-dividend date was Friday, February 6th. This represents a $0.54 annualized dividend and a dividend yield of 2.9%. First Commonwealth Financial's dividend payout ratio (DPR) is currently 36.99%.

Insider Activity

In other news, CFO James R. Reske sold 2,072 shares of the firm's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.86, for a total transaction of $37,005.92. Following the completion of the sale, the chief financial officer directly owned 83,420 shares in the company, valued at $1,489,881.20. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jane Grebenc sold 18,598 shares of the firm's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $18.85, for a total value of $350,572.30. Following the sale, the executive vice president owned 158,975 shares of the company's stock, valued at $2,996,678.75. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,742 shares of company stock valued at $424,004 over the last 90 days. Insiders own 1.90% of the company's stock.

Institutional Trading of First Commonwealth Financial

Several large investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in First Commonwealth Financial by 12.6% in the first quarter. Royal Bank of Canada now owns 188,826 shares of the bank's stock worth $2,935,000 after purchasing an additional 21,108 shares in the last quarter. AQR Capital Management LLC grew its stake in First Commonwealth Financial by 15.0% in the first quarter. AQR Capital Management LLC now owns 194,601 shares of the bank's stock worth $3,024,000 after purchasing an additional 25,310 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in First Commonwealth Financial by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,483 shares of the bank's stock worth $940,000 after purchasing an additional 2,952 shares in the last quarter. Millennium Management LLC grew its stake in First Commonwealth Financial by 700.8% in the first quarter. Millennium Management LLC now owns 384,829 shares of the bank's stock worth $5,980,000 after purchasing an additional 336,775 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in First Commonwealth Financial by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,968 shares of the bank's stock worth $3,776,000 after purchasing an additional 21,839 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

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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