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

Key Points

• First Commonwealth Financial Corporation announced a quarterly dividend of $0.14, with stockholders receiving payment on August 22nd, resulting in an annualized dividend of $0.54 and a yield of 3.35%.
• The company reported earnings of $0.38 per share for the recent quarter, exceeding expectations, and is anticipated to maintain a robust payout ratio of 34.4% with projected earnings of $1.57 per share next year.
• Insider trading activity revealed that Director Todd D. Brice purchased 7,000 shares at an average price of $16.09, significantly increasing his position in the company.

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) declared a quarterly dividend on Tuesday, July 29th, RTT News reports. Investors of record on Friday, August 8th will be paid a dividend of 0.135 per share by the bank on Friday, August 22nd. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, August 8th.

First Commonwealth Financial has a dividend payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Commonwealth Financial to earn $1.57 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 34.4%.

First Commonwealth Financial Trading Down 1.1%

Shares of FCF traded down $0.18 on Friday, hitting $16.33. 929,599 shares of the stock traded hands, compared to its average volume of 674,475. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.71 billion, a P/E ratio of 12.56 and a beta of 0.84. The stock's 50 day moving average is $16.22 and its two-hundred day moving average is $15.92. First Commonwealth Financial has a 1 year low of $13.54 and a 1 year high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $131.33 million for the quarter, compared to the consensus estimate of $125.88 million. First Commonwealth Financial had a net margin of 18.94% and a return on equity of 9.71%. During the same quarter in the prior year, the firm posted $0.37 earnings per share. As a group, sell-side analysts predict that First Commonwealth Financial will post 1.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of First Commonwealth Financial from a "sell" rating to a "hold" rating in a research note on Saturday. Keefe, Bruyette & Woods cut their price target on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating on the stock in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada cut their price target on shares of First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, First Commonwealth Financial presently has a consensus rating of "Moderate Buy" and an average target price of $18.90.

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.