Shares of First Commonwealth Financial Co. (NYSE: FCF – Get a rating) received an average “moderate buy” recommendation from the seven brokerages that cover the stock, Market assessments reports. Two analysts rated the stock with a hold recommendation and three gave the company a buy recommendation. The 12-month average price target among analysts who have covered the stock over the past year is $15.90.
FCF has been the subject of several analyst reports. Raymond James cut his price target on First Commonwealth Financial from $17.00 to $16.00 and set an “outperform” rating for the company in a Tuesday, September 6 research note. Piper Sandler reduced her target price on First Commonwealth Financial to $15.00 in a Wednesday, October 5 research note. Janney Montgomery Scott began coverage of First Commonwealth Financial in a research note on Thursday, September 29. They set a “buy” rating and a target price of $16.00 for the business. B. Riley raised his target price on First Commonwealth Financial from $16.00 to $17.00 in a Monday August 1 research note. To finish, StockNews.com began covering First Commonwealth Financial in a research note on Wednesday, October 12. They set a “hold” rating for the company.
First Commonwealth Financial Stock up 4.0%
FCF opened at $14.92 on Friday. The company has a 50-day moving average price of $13.61 and a two-hundred-day moving average price of $13.82. The company has a quick ratio of 0.91, a current ratio of 0.91 and a leverage ratio of 0.18. The company has a market capitalization of $1.39 billion, a PE ratio of 11.05 and a beta of 1.00. First Commonwealth Financial has a 52-week low of $12.76 and a 52-week high of $17.63.
First Commonwealth Financial announces dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18. Investors of record on Friday, November 4 will receive a dividend of $0.12. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 3.22%. The ex-dividend date for this dividend is Thursday, November 3. First Commonwealth Financial’s dividend payout ratio is currently 35.56%.
Institutional investors weigh in on First Commonwealth Financial
A number of institutional investors and hedge funds have recently changed their holdings in the company. Envestnet Asset Management Inc. increased its holdings of First Commonwealth Financial shares by 36.4% in the third quarter. Envestnet Asset Management Inc. now owns 20,236 shares of the bank worth $260,000 after acquiring an additional 5,403 shares during the period. Credit Suisse AG increased its holdings of First Commonwealth Financial shares by 6.6% in the third quarter. Credit Suisse AG now owns 129,264 shares in the bank worth $1,660,000 after acquiring an additional 7,965 shares during the period. WINTON GROUP Ltd increased its holdings of First Commonwealth Financial shares by 31.7% in Q3. WINTON GROUP Ltd now owns 71,725 shares in the bank worth $921,000 after acquiring an additional 17,269 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in First Commonwealth Financial during Q3 valued at $162,000. Finally, Tower Research Capital LLC TRC increased its stake in First Commonwealth Financial by 237.0% during the third quarter. Tower Research Capital LLC TRC now owns 9,955 shares of the bank valued at $128,000 after buying an additional 7,001 shares in the last quarter. Institutional investors and hedge funds hold 70.36% of the company’s shares.
Profile of the Commonwealth’s First Financial Corporation
First Commonwealth Financial Corporation, a financial holding company, provides various retail and corporate banking services in the United States. Its consumer services include personal checking accounts, interest-bearing checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, interest rate certificates of deposit fixed and variable, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and ATM services ATMs, as well as internet, mobile and telephone banking.
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