First Commonwealth Financial Co. (FCF) to Issue Quarterly Dividend of $0.13 on February 23rd

First Commonwealth Financial Co. (NYSE:FCFGet Free Report) announced a quarterly dividend on Tuesday, January 30th, investing.com reports. Shareholders of record on Friday, February 9th will be paid a dividend of 0.125 per share by the bank on Friday, February 23rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, February 8th.

First Commonwealth Financial has raised its dividend payment by an average of 4.0% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. First Commonwealth Financial has a dividend payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Commonwealth Financial to earn $1.51 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 33.1%.

First Commonwealth Financial Trading Down 2.4 %

Shares of NYSE:FCF opened at $13.22 on Tuesday. The firm has a fifty day moving average of $14.66 and a two-hundred day moving average of $13.53. The firm has a market capitalization of $1.35 billion, a P/E ratio of 8.58 and a beta of 0.88. First Commonwealth Financial has a 12-month low of $11.16 and a 12-month high of $16.53. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.14.

First Commonwealth Financial (NYSE:FCFGet Free Report) last issued its earnings results on Tuesday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $168.55 million during the quarter, compared to analyst estimates of $123.17 million. First Commonwealth Financial had a net margin of 25.07% and a return on equity of 13.78%. During the same quarter last year, the business posted $0.39 EPS. On average, equities analysts expect that First Commonwealth Financial will post 1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On First Commonwealth Financial

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in First Commonwealth Financial by 173.9% during the first quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the bank’s stock valued at $51,000 after acquiring an additional 2,594 shares during the period. International Assets Investment Management LLC bought a new stake in First Commonwealth Financial during the fourth quarter valued at about $74,000. Metropolitan Life Insurance Co NY boosted its holdings in First Commonwealth Financial by 14.1% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,758 shares of the bank’s stock valued at $80,000 after acquiring an additional 710 shares during the period. Captrust Financial Advisors boosted its holdings in First Commonwealth Financial by 20.5% during the third quarter. Captrust Financial Advisors now owns 10,234 shares of the bank’s stock valued at $131,000 after acquiring an additional 1,739 shares during the period. Finally, Verition Fund Management LLC bought a new stake in First Commonwealth Financial during the second quarter valued at about $136,000. 66.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FCF shares. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Monday, January 29th. Royal Bank of Canada decreased their price objective on shares of First Commonwealth Financial from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, October 26th.

View Our Latest Analysis on First Commonwealth Financial

First Commonwealth Financial Company Profile

(Get Free Report)

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.

See Also

Dividend History for First Commonwealth Financial (NYSE:FCF)

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