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

First Commonwealth Financial Co. (NYSE:FCF) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors of record on Friday, February 7th will be given a dividend of 0.13 per share by the bank on Friday, February 21st. This represents a $0.52 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, February 7th.

First Commonwealth Financial has increased its dividend payment by an average of 4.2% per year over the last three years. First Commonwealth Financial has a dividend payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Commonwealth Financial to earn $1.43 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 36.4%.

First Commonwealth Financial Stock Down 3.8 %

FCF traded down $0.63 on Wednesday, hitting $16.19. 907,149 shares of the company were exchanged, compared to its average volume of 715,469. First Commonwealth Financial has a twelve month low of $12.41 and a twelve month high of $19.96. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 10.94 and a beta of 0.88. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $17.48 and a two-hundred day moving average price of $17.16.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. On average, equities analysts predict that First Commonwealth Financial will post 1.4 earnings per share for the current year.

Analyst Ratings Changes

FCF has been the subject of several research reports. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 1st. Stephens reaffirmed an “overweight” rating and set a $21.50 price objective on shares of First Commonwealth Financial in a research note on Wednesday. Piper Sandler reduced their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods boosted their target price on First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.90.

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.