First Commonwealth Financial Co. (NYSE:FCF) Receives Consensus Recommendation of “Buy” from Analysts

First Commonwealth Financial Co. (NYSE:FCF) has earned an average recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $17.38.

A number of equities research analysts have recently weighed in on FCF shares. Royal Bank of Canada raised First Commonwealth Financial from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $19.00 in a report on Thursday, October 28th. Boenning Scattergood reaffirmed a “neutral” rating on shares of First Commonwealth Financial in a report on Thursday, October 28th. B. Riley lifted their price target on First Commonwealth Financial from $15.00 to $16.00 in a report on Wednesday. Finally, Zacks Investment Research raised First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Wednesday, January 5th.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in First Commonwealth Financial by 0.3% during the 2nd quarter. BlackRock Inc. now owns 14,204,360 shares of the bank’s stock worth $199,855,000 after purchasing an additional 49,456 shares in the last quarter. Vanguard Group Inc. grew its position in First Commonwealth Financial by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 10,687,052 shares of the bank’s stock worth $150,367,000 after purchasing an additional 126,671 shares in the last quarter. State Street Corp grew its position in First Commonwealth Financial by 5.5% during the 2nd quarter. State Street Corp now owns 4,299,936 shares of the bank’s stock worth $60,500,000 after purchasing an additional 225,064 shares in the last quarter. JPMorgan Chase & Co. grew its position in First Commonwealth Financial by 5.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,320,301 shares of the bank’s stock worth $32,646,000 after purchasing an additional 128,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in First Commonwealth Financial by 8.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,805,920 shares of the bank’s stock worth $25,410,000 after purchasing an additional 134,338 shares in the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.

Shares of NYSE FCF opened at $17.55 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $15.88 and its two-hundred day moving average price is $14.46. First Commonwealth Financial has a 52-week low of $11.53 and a 52-week high of $17.55. The stock has a market capitalization of $1.68 billion, a P/E ratio of 13.00 and a beta of 1.10.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Monday, October 25th. The bank reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04. The company had revenue of $97.89 million for the quarter, compared to analysts’ expectations of $94.52 million. First Commonwealth Financial had a return on equity of 11.87% and a net margin of 32.22%. During the same quarter in the previous year, the company posted $0.24 earnings per share. As a group, equities research analysts expect that First Commonwealth Financial will post 1.41 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, November 5th were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, November 4th. This represents a $0.46 annualized dividend and a yield of 2.62%. First Commonwealth Financial’s dividend payout ratio (DPR) is 34.07%.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corp. is a financial holding company, which engages in the provision of a diversified array of consumer and commercial banking services through its bank subsidiary, First Commonwealth Bank (FCB). It also offers trust and wealth management services and offer insurance products through FCB and its other operating subsidiaries.

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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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