First Commonwealth Financial Co. (NYSE:FCF) Declares Quarterly Dividend of $0.13

First Commonwealth Financial Co. (NYSE:FCF) announced a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.13 per share by the bank on Friday, November 22nd. This represents a $0.52 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, November 8th.

First Commonwealth Financial has raised its dividend by an average of 4.0% annually over the last three years. First Commonwealth Financial has a dividend payout ratio of 36.9% meaning its dividend is sufficiently covered by earnings. Analysts expect First Commonwealth Financial to earn $1.48 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 35.1%.

First Commonwealth Financial Trading Up 2.0 %

NYSE:FCF opened at $16.59 on Wednesday. First Commonwealth Financial has a 1 year low of $12.30 and a 1 year high of $19.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a fifty day moving average price of $16.81 and a two-hundred day moving average price of $15.42. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 11.21 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The company had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. During the same quarter last year, the business earned $0.39 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that First Commonwealth Financial will post 1.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FCF has been the subject of a number of research analyst reports. StockNews.com cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Piper Sandler dropped their price target on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Keefe, Bruyette & Woods increased their price objective on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Janney Montgomery Scott downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and upped their price objective for the company from $16.00 to $19.00 in a research note on Monday, July 29th. Finally, Royal Bank of Canada increased their price target on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, First Commonwealth Financial has an average rating of “Hold” and a consensus target price of $17.30.

Insider Buying and Selling at First Commonwealth Financial

In related news, EVP Michael P. Mccuen purchased 2,919 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now owns 57,623 shares in the company, valued at approximately $979,014.77. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.97% of the stock is currently owned by corporate insiders.

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.