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

First Commonwealth Financial Co. (NYSE:FCF) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders of record on Friday, February 7th will be paid a dividend of 0.13 per share by the bank on Friday, February 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, February 7th.

First Commonwealth Financial has raised its dividend by an average of 4.2% annually over the last three years. First Commonwealth Financial has a 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 %

NYSE FCF traded down $0.63 during trading on Wednesday, hitting $16.19. The stock had a trading volume of 907,149 shares, compared to its average volume of 715,469. First Commonwealth Financial has a 12 month low of $12.41 and a 12 month high of $19.96. 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 company’s 50-day moving average price is $17.48 and its two-hundred day moving average price is $17.16. The company has a market capitalization of $1.65 billion, a PE ratio of 10.94 and a beta of 0.88.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. As a group, sell-side analysts forecast that First Commonwealth Financial will post 1.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens reissued an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research report on Wednesday. Keefe, Bruyette & Woods lifted their target price on First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 1st. Finally, Piper Sandler decreased their price objective on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Four investment 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 company has a consensus 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.