First Commonwealth Financial Co. (NYSE:FCF) Declares $0.13 Quarterly Dividend

First Commonwealth Financial Co. (NYSE:FCF) declared a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.13 per share by the bank on Friday, November 22nd. This represents a $0.52 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, November 8th.

First Commonwealth Financial has increased its dividend by an average of 4.0% annually over the last three years. First Commonwealth Financial has a payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Analysts expect First Commonwealth Financial to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 34.4%.

First Commonwealth Financial Stock Down 0.4 %

FCF opened at $16.88 on Thursday. The company has a market cap of $1.73 billion, a PE ratio of 10.48 and a beta of 0.83. First Commonwealth Financial has a twelve month low of $12.05 and a twelve month high of $19.01. The company has a 50-day moving average price of $16.85 and a 200 day moving average price of $15.30. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The firm had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. First Commonwealth Financial’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 EPS. Sell-side analysts expect that First Commonwealth Financial will post 1.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael P. Mccuen purchased 2,919 shares of the stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.97% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on FCF. Piper Sandler lifted their target price on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods boosted their price target on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Janney Montgomery Scott downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and increased their price objective for the company from $16.00 to $19.00 in a report on Monday, July 29th. Royal Bank of Canada raised their target price on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, First Commonwealth Financial presently has a consensus rating of “Hold” and a consensus price target of $17.50.

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.