First Commonwealth Financial Corporation (FCF) to Distribute Quarterly Dividend of $0.14 on August 21st

First Commonwealth Financial Corporation (NYSE:FCF) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Friday, August 7th will be paid a dividend of 0.14 per share by the bank on Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 7th.

First Commonwealth Financial has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 9 consecutive years. First Commonwealth Financial has a dividend payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Analysts expect First Commonwealth Financial to earn $1.96 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 28.6%.

First Commonwealth Financial Stock Up 0.7%

Shares of NYSE FCF opened at $21.90 on Wednesday. First Commonwealth Financial has a 52-week low of $15.00 and a 52-week high of $22.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The business has a fifty day moving average of $20.19 and a two-hundred day moving average of $18.79. The stock has a market cap of $2.23 billion, a PE ratio of 13.43 and a beta of 0.75.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%. The firm had revenue of $139.42 million during the quarter, compared to the consensus estimate of $137.48 million. As a group, equities research analysts expect that First Commonwealth Financial will post 1.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of First Commonwealth Financial in a research report on Tuesday, May 19th. Royal Bank Of Canada raised their target price on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Piper Sandler reissued an “overweight” rating and issued a $25.00 price target (up from $21.00) on shares of First Commonwealth Financial in a research note on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 price target on shares of First Commonwealth Financial in a research note on Friday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.25.

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.