First Commonwealth Financial (NYSE:FCF) PT Raised to $17.00

First Commonwealth Financial (NYSE:FCF) had its price target boosted by Piper Sandler from $14.00 to $17.00 in a research report released on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

FCF has been the topic of a number of other reports. Royal Bank of Canada reaffirmed an outperform rating and set a $17.00 target price on shares of First Commonwealth Financial in a research report on Tuesday, April 9th. StockNews.com raised First Commonwealth Financial from a sell rating to a hold rating in a research report on Saturday, May 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, First Commonwealth Financial currently has a consensus rating of Hold and a consensus target price of $17.13.

First Commonwealth Financial Trading Up 7.6 %

NYSE:FCF opened at $18.61 on Thursday. The business’s 50-day moving average is $14.12 and its two-hundred day moving average is $13.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. First Commonwealth Financial has a 12 month low of $11.16 and a 12 month high of $19.01. The firm has a market capitalization of $1.90 billion, a PE ratio of 11.56 and a beta of 0.85.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The company had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.34 million. During the same period last year, the company posted $0.42 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. Research analysts predict that First Commonwealth Financial will post 1.38 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 2.79%. First Commonwealth Financial’s dividend payout ratio (DPR) is 32.30%.

Hedge Funds Weigh In On First Commonwealth Financial

Hedge funds have recently bought and sold shares of the company. CWM LLC grew its stake in First Commonwealth Financial by 451.1% in the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after purchasing an additional 1,633 shares in the last quarter. International Assets Investment Management LLC acquired a new position in First Commonwealth Financial in the fourth quarter worth about $74,000. Tower Research Capital LLC TRC grew its stake in First Commonwealth Financial by 50.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,666 shares of the bank’s stock worth $103,000 after purchasing an additional 2,236 shares in the last quarter. Entropy Technologies LP acquired a new position in First Commonwealth Financial in the first quarter worth about $152,000. Finally, EMC Capital Management grew its stake in First Commonwealth Financial by 28.6% in the first quarter. EMC Capital Management now owns 15,823 shares of the bank’s stock worth $220,000 after purchasing an additional 3,523 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Company Profile

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.