First Commonwealth Financial Co. (NYSE:FCF) Declares $0.13 Quarterly Dividend

First Commonwealth Financial Co. (NYSE:FCF) announced a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.13 per share by the bank on Friday, November 22nd. This represents a $0.52 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, November 8th.

First Commonwealth Financial has raised its dividend by an average of 4.0% annually over the last three years. First Commonwealth Financial has a payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Commonwealth Financial to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 34.4%.

First Commonwealth Financial Stock Performance

NYSE FCF traded down $0.06 during trading on Wednesday, hitting $16.88. 673,124 shares of the company’s stock traded hands, compared to its average volume of 511,818. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 10.48 and a beta of 0.83. First Commonwealth Financial has a 12-month low of $12.05 and a 12-month high of $19.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92. The business has a 50 day moving average of $16.85 and a 200-day moving average of $15.30.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly 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). First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The firm had revenue of $121.21 million during the quarter, compared to analysts’ expectations of $119.47 million. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that First Commonwealth Financial will post 1.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on FCF. Keefe, Bruyette & Woods raised their price objective on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Janney Montgomery Scott lowered First Commonwealth Financial from a “buy” rating to a “neutral” rating and raised their price objective for the company from $16.00 to $19.00 in a research report on Monday, July 29th. StockNews.com lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada raised their price objective on First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Piper Sandler raised their price objective on First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.50.

Insider Buying and Selling at First Commonwealth Financial

In other news, EVP Michael P. Mccuen purchased 2,919 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at $979,014.77. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.97% of the company’s stock.

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.