First Commonwealth Financial Corporation (NYSE:FCF) to Issue Dividend Increase - $0.14 Per Share

Key Points

• First Commonwealth Financial declared a quarterly dividend of $0.14 per share, payable May 22 to shareholders of record on May 8, with an indicated yield of about 3.0% and described as a 3.7% increase from the prior quarterly payout.
• The bank reported Q1 EPS of $0.37 (missing the $0.40 consensus) while revenue rose 12.9% year‑over‑year to $133.7 million, and its dividend is well covered with a current payout ratio of 33.1% and analysts forecasting $1.96 EPS next year (implying an expected ~27.6% payout ratio).
• Shares traded at $18.86 mid‑day (up $0.22), reflecting a market cap of $1.93 billion and a P/E of about 12.9, with a 1‑year trading range of $15.00–$19.14.

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) declared a quarterly dividend on Tuesday, April 28th. Shareholders of record on Friday, May 8th will be paid a dividend of 0.14 per share by the bank on Friday, May 22nd. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, May 8th. This is a 3.7% increase from First Commonwealth Financial's previous quarterly dividend of $0.14.

First Commonwealth Financial has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 9 consecutive years. First Commonwealth Financial has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Research 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 $0.54 annual dividend with an expected future payout ratio of 27.6%.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock traded up $0.22 during mid-day trading on Tuesday, reaching $18.86. The company had a trading volume of 1,199,881 shares, compared to its average volume of 869,925. First Commonwealth Financial has a 1 year low of $15.00 and a 1 year high of $19.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.92. The company has a market capitalization of $1.93 billion, a P/E ratio of 12.92 and a beta of 0.76. The stock's 50-day simple moving average is $17.84 and its 200-day simple moving average is $17.21.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $133.70 million during the quarter, compared to analyst estimates of $134.48 million. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, equities analysts predict that First Commonwealth Financial will post 1.75 EPS for the current year.

First Commonwealth Financial Company Profile

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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