First Commonwealth Financial (NYSE:FCF) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• First Commonwealth Financial shares crossed above their 200-day moving average, reaching $20.02 compared with the $19.94 average, though they later traded near $19.95.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds. The stock has a “Moderate Buy” consensus and an average price target of $24.20.
• The bank exceeded quarterly expectations, reporting $0.44 in earnings per share and $139.42 million in revenue. It also pays a quarterly dividend of $0.14, equivalent to a 2.8% yield.

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $19.94 and traded as high as $20.02. First Commonwealth Financial shares last traded at $19.9480, with a volume of 847,320 shares traded.

Analyst Ratings Changes

FCF has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Commonwealth Financial in a research note on Friday, August 14th. Keefe, Bruyette & Woods boosted their target price on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the company a "market perform" rating in a report on Friday, July 31st. DA Davidson assumed coverage on shares of First Commonwealth Financial in a research note on Monday, September 28th. They issued a "neutral" rating and a $24.00 price target for the company. Raymond James Financial reissued an "outperform" rating and issued a $24.00 price target on shares of First Commonwealth Financial in a research note on Friday, July 31st. Finally, Piper Sandler restated an "overweight" rating and set a $25.00 price target (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.20.

First Commonwealth Financial Price Performance

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.02 billion, a PE ratio of 12.24 and a beta of 0.76. The stock has a 50-day simple moving average of $20.90 and a 200 day simple moving average of $19.94.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share 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 analysts' expectations of $137.48 million. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%. Equities analysts expect that First Commonwealth Financial Corporation will post 1.73 EPS for the current year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, August 7th. First Commonwealth Financial's payout ratio is 34.36%.

Insider Buying and Selling

In other First Commonwealth Financial news, CFO James Reske sold 2,072 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $20.52, for a total transaction of $42,517.44. Following the completion of the transaction, the chief financial officer owned 70,988 shares of the company's stock, valued at $1,456,673.76. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,216 shares of company stock valued at $131,821 over the last 90 days. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On First Commonwealth Financial

A number of institutional investors have recently made changes to their positions in FCF. Integrated Wealth Concepts LLC purchased a new stake in First Commonwealth Financial in the second quarter valued at approximately $29,000. Public Employees Retirement System of Ohio acquired a new position in First Commonwealth Financial during the second quarter worth $32,000. MCF Advisors LLC purchased a new position in shares of First Commonwealth Financial during the second quarter worth $32,000. Blue Trust Inc. boosted its position in shares of First Commonwealth Financial by 136.2% during the first quarter. Blue Trust Inc. now owns 7,125 shares of the bank's stock worth $125,000 after buying an additional 4,108 shares during the period. Finally, DGS Capital Management LLC purchased a new position in shares of First Commonwealth Financial during the fourth quarter worth $175,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation NYSE: FCF is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides community banking and financial services to individuals, businesses, and institutions.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, commercial lending, and other credit products. First Commonwealth also provides wealth management, trust, investment, and insurance services through affiliated and specialized business lines.

The company serves customers through banking locations and digital channels in western and central Pennsylvania and eastern Ohio.

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