Brokerages Set First Commonwealth Financial Corporation (NYSE:FCF) Target Price at $19.75

Shares of First Commonwealth Financial Corporation (NYSE:FCF) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $19.75.

A number of brokerages recently weighed in on FCF. Raymond James Financial set a $20.00 target price on shares of First Commonwealth Financial and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods upped their target price on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Commonwealth Financial in a research note on Thursday, January 22nd.

First Commonwealth Financial Price Performance

Shares of NYSE FCF opened at $18.81 on Wednesday. The firm has a market cap of $1.92 billion, a PE ratio of 12.88 and a beta of 0.76. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17. First Commonwealth Financial has a 1-year low of $14.20 and a 1-year high of $19.14. The company has a fifty day moving average price of $17.81 and a 200 day moving average price of $17.14.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Wednesday, January 28th. The bank reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $137.82 million during the quarter, compared to analyst estimates of $135.63 million. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 EPS. Research analysts predict that First Commonwealth Financial will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.54 dividend on an annualized basis and a yield of 2.9%. First Commonwealth Financial’s dividend payout ratio is presently 36.99%.

Insider Activity

In other First Commonwealth Financial news, EVP Jane Grebenc sold 18,598 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $18.85, for a total transaction of $350,572.30. Following the sale, the executive vice president directly owned 158,975 shares of the company’s stock, valued at $2,996,678.75. The trade was a 10.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO James R. Reske sold 2,072 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.86, for a total transaction of $37,005.92. Following the sale, the chief financial officer directly owned 83,420 shares in the company, valued at $1,489,881.20. This trade represents a 2.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,742 shares of company stock worth $424,004 over the last three months. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in First Commonwealth Financial by 2,250.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock valued at $42,000 after purchasing an additional 2,498 shares during the last quarter. Smithfield Trust Co acquired a new position in First Commonwealth Financial during the fourth quarter valued at approximately $51,000. TD Private Client Wealth LLC boosted its position in First Commonwealth Financial by 20.7% during the fourth quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after purchasing an additional 621 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in First Commonwealth Financial during the third quarter valued at approximately $85,000. Finally, Smartleaf Asset Management LLC boosted its position in First Commonwealth Financial by 58.5% during the third quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock valued at $91,000 after purchasing an additional 1,950 shares during the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

About First Commonwealth Financial

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.