Analysts Set First Commonwealth Financial Co. (NYSE:FCF) Price Target at $17.70

Shares of First Commonwealth Financial Co. (NYSE:FCF) have been given an average rating of “Hold” by the five research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.70.

Several analysts have weighed in on the stock. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 1st. Piper Sandler lowered their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Hedge Funds Weigh In On First Commonwealth Financial

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of First Commonwealth Financial by 2,572.6% in the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,595 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of First Commonwealth Financial during the third quarter valued at about $46,000. CWM LLC increased its position in shares of First Commonwealth Financial by 92.0% during the third quarter. CWM LLC now owns 3,830 shares of the bank’s stock valued at $66,000 after buying an additional 1,835 shares during the period. nVerses Capital LLC purchased a new position in shares of First Commonwealth Financial during the third quarter valued at about $72,000. Finally, KBC Group NV increased its position in shares of First Commonwealth Financial by 61.6% during the fourth quarter. KBC Group NV now owns 5,842 shares of the bank’s stock valued at $99,000 after buying an additional 2,226 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $16.48 on Monday. First Commonwealth Financial has a 52-week low of $12.41 and a 52-week high of $19.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $1.68 billion, a P/E ratio of 11.14 and a beta of 0.88. The company has a fifty day moving average of $17.55 and a 200-day moving average of $17.13.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $121.21 million for the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, equities research analysts predict that First Commonwealth Financial will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s payout ratio is 35.14%.

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.