First Commonwealth Financial Co. (FCF) to Issue Quarterly Dividend of $0.13 on May 17th

First Commonwealth Financial Co. (NYSE:FCF) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, May 3rd will be given a dividend of 0.13 per share by the bank on Friday, May 17th. This represents a $0.52 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Thursday, May 2nd. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.13.

First Commonwealth Financial has raised its dividend by an average of 4.0% annually over the last three years and has increased its dividend every year for the last 7 years. First Commonwealth Financial has a payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Analysts expect First Commonwealth Financial to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 34.2%.

First Commonwealth Financial Price Performance

FCF stock opened at $13.73 on Thursday. The business’s fifty day moving average price is $13.28 and its 200 day moving average price is $13.61. First Commonwealth Financial has a 12-month low of $11.16 and a 12-month high of $15.90. The company has a market capitalization of $1.40 billion, a PE ratio of 8.53 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.14.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. First Commonwealth Financial had a net margin of 24.96% and a return on equity of 12.89%. The company had revenue of $116.60 million for the quarter, compared to analyst estimates of $119.80 million. During the same period in the prior year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts anticipate that First Commonwealth Financial will post 1.44 EPS for the current year.

Analyst Upgrades and Downgrades

FCF has been the subject of several research reports. Stephens dropped their price target on shares of First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of First Commonwealth Financial in a research note on Tuesday, April 9th. Finally, StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th.

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.