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

Shares of First Commonwealth Financial Corporation (NYSE:FCFGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $20.3333.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th.

Check Out Our Latest Analysis on FCF

Insider Buying and Selling at First Commonwealth Financial

In related news, CFO James R. Reske sold 2,072 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $18.93, for a total value of $39,222.96. Following the transaction, the chief financial officer directly owned 79,276 shares in the company, valued at approximately $1,500,694.68. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Mccuen sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total transaction of $97,545.00. Following the transaction, the executive vice president directly owned 56,861 shares in the company, valued at approximately $1,056,477.38. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,430 shares of company stock valued at $908,796 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FCF. EverSource Wealth Advisors LLC lifted its stake 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 worth $42,000 after purchasing an additional 2,498 shares during the last quarter. Smithfield Trust Co acquired a new stake in shares of First Commonwealth Financial in the 4th quarter valued at approximately $51,000. TD Private Client Wealth LLC lifted its stake in shares of First Commonwealth Financial by 20.7% in the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after acquiring an additional 621 shares during the last quarter. iSAM Funds UK Ltd bought a new position in First Commonwealth Financial in the 3rd quarter valued at approximately $85,000. Finally, GAMMA Investing LLC raised its holdings in First Commonwealth Financial by 29.7% in the 4th quarter. GAMMA Investing LLC now owns 6,378 shares of the bank’s stock valued at $108,000 after buying an additional 1,460 shares during the last quarter. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Down 0.1%

FCF opened at $20.45 on Monday. The stock’s fifty day simple moving average is $19.13 and its 200 day simple moving average is $18.21. First Commonwealth Financial has a 1-year low of $15.00 and a 1-year high of $20.87. The stock has a market cap of $2.08 billion, a PE ratio of 13.54 and a beta of 0.74. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09.

First Commonwealth Financial (NYSE:FCFGet Free Report) last posted its earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $133.70 million for the quarter, compared to analyst estimates of $134.32 million. First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. As a group, research analysts expect that First Commonwealth Financial will post 1.71 earnings per share for the current year.

First Commonwealth Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.14 dividend. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 2.7%. First Commonwealth Financial’s dividend payout ratio is presently 37.09%.

About First Commonwealth Financial

(Get Free Report)

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.

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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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