First Commonwealth Financial Co. (NYSE:FCF) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of First Commonwealth Financial Co. (NYSE:FCF) have been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $17.38.

Several research firms have recently weighed in on FCF. Boenning Scattergood reissued a “neutral” rating on shares of First Commonwealth Financial in a report on Thursday, October 28th. B. Riley boosted their target price on First Commonwealth Financial from $15.00 to $16.00 in a report on Wednesday. Zacks Investment Research raised First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Wednesday, January 5th. Finally, Royal Bank of Canada raised First Commonwealth Financial from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $16.00 to $19.00 in a research note on Thursday, October 28th.

First Commonwealth Financial stock opened at $17.55 on Friday. First Commonwealth Financial has a fifty-two week low of $11.53 and a fifty-two week high of $17.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $1.68 billion, a P/E ratio of 13.00 and a beta of 1.10. The stock has a 50-day simple moving average of $15.88 and a 200-day simple moving average of $14.46.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Monday, October 25th. The bank reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. First Commonwealth Financial had a return on equity of 11.87% and a net margin of 32.22%. The business had revenue of $97.89 million during the quarter, compared to the consensus estimate of $94.52 million. During the same period in the previous year, the business earned $0.24 EPS. As a group, analysts forecast that First Commonwealth Financial will post 1.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, November 5th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, November 4th. First Commonwealth Financial’s payout ratio is 34.07%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in First Commonwealth Financial by 0.3% during the 2nd quarter. BlackRock Inc. now owns 14,204,360 shares of the bank’s stock worth $199,855,000 after purchasing an additional 49,456 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of First Commonwealth Financial by 12.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 88,898 shares of the bank’s stock worth $1,251,000 after acquiring an additional 9,904 shares during the period. SG Americas Securities LLC acquired a new stake in First Commonwealth Financial during the 3rd quarter valued at $638,000. MetLife Investment Management LLC grew its holdings in First Commonwealth Financial by 14.3% during the 2nd quarter. MetLife Investment Management LLC now owns 34,651 shares of the bank’s stock valued at $488,000 after buying an additional 4,326 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in First Commonwealth Financial by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 10,687,052 shares of the bank’s stock valued at $150,367,000 after buying an additional 126,671 shares during the last quarter. Institutional investors own 67.21% of the company’s stock.

About First Commonwealth Financial

First Commonwealth Financial Corp. is a financial holding company, which engages in the provision of a diversified array of consumer and commercial banking services through its bank subsidiary, First Commonwealth Bank (FCB). It also offers trust and wealth management services and offer insurance products through FCB and its other operating subsidiaries.

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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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