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

Shares of First Commonwealth Financial Corporation (NYSE:FCF) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $19.75.

Several equities research analysts recently commented on FCF shares. Keefe, Bruyette & Woods boosted their price target on First Commonwealth Financial from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Piper Sandler initiated coverage on shares of First Commonwealth Financial in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $21.00 target price for the company. Raymond James Financial set a $20.00 price target on shares of First Commonwealth Financial and gave the company an “outperform” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd.

Insider Activity at First Commonwealth Financial

In other news, CFO James R. Reske sold 2,072 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $16.74, for a total value of $34,685.28. Following the completion of the sale, the chief financial officer directly owned 80,311 shares in the company, valued at approximately $1,344,406.14. The trade was a 2.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jane Grebenc sold 18,598 shares of the company’s stock in a transaction on Friday, February 6th. The stock was 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 approximately $2,996,678.75. This represents a 10.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,635 shares of company stock valued at $417,719. Corporate insiders own 2.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 2,498 shares during the period. Smithfield Trust Co acquired a new position in shares of First Commonwealth Financial during the 4th quarter worth about $51,000. TD Private Client Wealth LLC boosted its stake in First Commonwealth Financial by 20.7% during the 4th 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 period. iSAM Funds UK Ltd acquired a new stake in First Commonwealth Financial in the 3rd quarter valued at approximately $85,000. Finally, Smartleaf Asset Management LLC increased its position in First Commonwealth Financial by 58.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock worth $91,000 after buying an additional 1,950 shares during the period. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Trading Down 0.3%

First Commonwealth Financial stock opened at $18.11 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.17. First Commonwealth Financial has a 12 month low of $13.54 and a 12 month high of $19.08. The company’s fifty day simple moving average is $17.73 and its 200-day simple moving average is $17.07. The stock has a market cap of $1.88 billion, a P/E ratio of 12.40 and a beta of 0.81.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.The firm had revenue of $137.82 million during the quarter, compared to analysts’ expectations of $135.63 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, sell-side analysts forecast that First Commonwealth Financial will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial declared that its Board of Directors has approved a share buyback plan on Monday, December 1st that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

First Commonwealth Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, February 6th. First Commonwealth Financial’s dividend payout ratio is 36.99%.

First Commonwealth Financial Company Profile

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.