First Commonwealth Financial Co. (FCF) to Issue Quarterly Dividend of $0.13 on February 21st

First Commonwealth Financial Co. (NYSE:FCF) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis 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% annually over the last three years. First Commonwealth Financial has a payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 3.8 %

NYSE FCF opened at $16.19 on Thursday. The firm’s 50-day moving average is $17.43 and its two-hundred day moving average is $17.15. 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 current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $1.65 billion, a P/E ratio of 10.94 and a beta of 0.88.

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

Wall Street Analyst Weigh In

A number of research firms have commented on FCF. Piper Sandler decreased their target price on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Keefe, Bruyette & Woods increased their price target on shares of 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. Stephens reissued an “overweight” rating and set a $21.50 price target on shares of First Commonwealth Financial in a research report on Wednesday. Finally, StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research 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.com, First Commonwealth Financial 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.