First Commonwealth Financial (FCF) Receives Average Rating of “Hold” from Brokerages

First Commonwealth Financial (NYSE:FCF) has received an average rating of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.67.

A number of equities analysts recently issued reports on the stock. Raymond James reiterated a “hold” rating on shares of First Commonwealth Financial in a research note on Tuesday, December 11th. Zacks Investment Research upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Monday, December 10th. B. Riley upgraded shares of First Commonwealth Financial from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $18.00 to $16.00 in a research note on Thursday, November 8th. Boenning Scattergood cut shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating in a research note on Thursday, November 1st. Finally, Sandler O’Neill upgraded shares of First Commonwealth Financial from a “hold” rating to a “buy” rating in a research note on Thursday, October 25th.

NYSE:FCF opened at $12.35 on Tuesday. The stock has a market capitalization of $1.23 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.51 and a beta of 1.07. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18. First Commonwealth Financial has a 1-year low of $12.01 and a 1-year high of $17.91.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The firm had revenue of $83.57 million during the quarter, compared to the consensus estimate of $84.76 million. First Commonwealth Financial had a return on equity of 11.00% and a net margin of 22.65%. During the same quarter in the previous year, the firm earned $0.22 EPS. On average, analysts forecast that First Commonwealth Financial will post 1.02 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 16th. Investors of record on Friday, November 2nd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, November 1st. First Commonwealth Financial’s payout ratio is 43.90%.

First Commonwealth Financial declared that its Board of Directors has initiated a share buyback program on Tuesday, October 23rd that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 1.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

In related news, Director Ray T. Charley bought 4,000 shares of the stock in a transaction on Monday, October 29th. The shares were acquired at an average price of $12.90 per share, for a total transaction of $51,600.00. Following the purchase, the director now owns 280,041 shares of the company’s stock, valued at $3,612,528.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.42% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank bought a new position in First Commonwealth Financial during the 3rd quarter valued at about $170,000. Bank of Montreal Can bought a new position in First Commonwealth Financial during the 2nd quarter valued at about $188,000. Stevens Capital Management LP bought a new position in First Commonwealth Financial during the 3rd quarter valued at about $191,000. McKinley Carter Wealth Services Inc. bought a new position in First Commonwealth Financial during the 3rd quarter valued at about $209,000. Finally, V Wealth Management LLC bought a new position in First Commonwealth Financial during the 3rd quarter valued at about $235,000. Institutional investors and hedge funds own 69.44% of the company’s stock.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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.

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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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