First Commonwealth Financial Corporation (NYSE:FCF) to Issue $0.14 Quarterly Dividend

Key Points

• First Commonwealth Financial will pay a quarterly dividend of $0.14 per share on August 21 to shareholders of record as of August 7, representing a $0.56 annualized dividend and a 2.6% yield.
• The bank has increased its dividend for nine consecutive years, with a 34.4% payout ratio indicating the dividend is currently well covered by earnings.
• First Commonwealth reported quarterly EPS of $0.44, exceeding analyst estimates of $0.42, while revenue of $139.42 million also topped expectations.

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Friday, August 7th will be paid a dividend of 0.14 per share by the bank on Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 7th.

First Commonwealth Financial has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 9 consecutive years. First Commonwealth Financial has a payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Commonwealth Financial to earn $1.96 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 28.6%.

First Commonwealth Financial Price Performance

Shares of FCF opened at $21.35 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The stock's 50 day moving average is $19.89 and its two-hundred day moving average is $18.64. First Commonwealth Financial has a twelve month low of $15.00 and a twelve month high of $21.41. The firm has a market capitalization of $2.17 billion, a PE ratio of 14.14 and a beta of 0.74.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $139.42 million during the quarter, compared to the consensus estimate of $137.48 million. First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%. Research analysts anticipate that First Commonwealth Financial will post 1.71 earnings per share for the current year.

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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