First Commonwealth Financial Co. (NYSE:FCF) Raises Dividend to $0.13 Per Share

First Commonwealth Financial Co. (NYSE:FCF - Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Friday, May 3rd will be given a dividend of 0.13 per share by the bank on Friday, May 17th. This represents a $0.52 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Thursday, May 2nd. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.13.

First Commonwealth Financial has increased its dividend payment by an average of 4.0% per year over the last three years and has raised its dividend every year for the last 7 years. First Commonwealth Financial has a payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Commonwealth Financial to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 34.2%.

First Commonwealth Financial Trading Up 1.1 %

Shares of First Commonwealth Financial stock traded up $0.15 during trading hours on Wednesday, hitting $13.73. The company's stock had a trading volume of 478,826 shares, compared to its average volume of 516,417. First Commonwealth Financial has a 12 month low of $11.16 and a 12 month high of $15.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $1.40 billion, a PE ratio of 8.92 and a beta of 0.87. The stock has a 50 day moving average of $13.28 and a 200 day moving average of $13.61.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $116.60 million for the quarter, compared to the consensus estimate of $119.80 million. First Commonwealth Financial had a net margin of 25.07% and a return on equity of 13.78%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. Analysts predict that First Commonwealth Financial will post 1.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FCF. Stephens reduced their target price on shares of First Commonwealth Financial from $16.50 to $15.50 and set an "overweight" rating for the company in a research note on Tuesday, February 6th. StockNews.com upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $17.00 target price on shares of First Commonwealth Financial in a research note on Tuesday, April 9th.

About First Commonwealth Financial

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.