First Commonwealth Financial (NYSE:FCF) Price Target Raised to $20.00

First Commonwealth Financial (NYSE:FCF) had its price target lifted by Keefe, Bruyette & Woods from $18.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a market perform rating on the bank’s stock.

A number of other analysts have also issued reports on FCF. Piper Sandler cut their target price on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.70.

First Commonwealth Financial Stock Up 0.1 %

Shares of NYSE FCF opened at $18.64 on Wednesday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 12.59 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a 52-week low of $12.41 and a 52-week high of $19.96. The business’s 50 day moving average is $17.73 and its two-hundred day moving average is $16.22.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results 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 firm had revenue of $121.21 million during the quarter, compared to analysts’ expectations of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 EPS. Research analysts predict that First Commonwealth Financial will post 1.4 EPS for the current year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is currently 35.14%.

Insider Buying and Selling

In other news, EVP Michael P. Mccuen bought 2,919 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the purchase, the executive vice president now owns 57,623 shares in the company, valued at approximately $979,014.77. This trade represents a 5.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.97% of the company’s stock.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently modified their holdings of FCF. CWM LLC grew its stake in shares of First Commonwealth Financial by 451.1% during the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after purchasing an additional 1,633 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of First Commonwealth Financial by 2,572.6% during the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock worth $28,000 after purchasing an additional 1,595 shares in the last quarter. Quest Partners LLC acquired a new position in shares of First Commonwealth Financial during the second quarter worth $34,000. Wilmington Savings Fund Society FSB acquired a new position in shares of First Commonwealth Financial during the third quarter worth $46,000. Finally, Innealta Capital LLC acquired a new position in shares of First Commonwealth Financial during the second quarter worth $51,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

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.