First Commonwealth Financial Corporation (NYSE:FCF) announced a quarterly dividend on Wednesday, July 26th, RTT News reports. Stockholders of record on Monday, August 7th will be paid a dividend of 0.08 per share by the bank on Friday, August 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, August 3rd.
First Commonwealth Financial Corporation has raised its dividend by an average of 6.8% annually over the last three years. First Commonwealth Financial Corporation has a payout ratio of 40.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Commonwealth Financial Corporation to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 36.4%.
Shares of First Commonwealth Financial Corporation (NYSE FCF) traded down 0.48% during trading on Friday, hitting $12.42. 476,546 shares of the company were exchanged. First Commonwealth Financial Corporation has a 12 month low of $9.62 and a 12 month high of $14.61. The firm has a market capitalization of $1.21 billion, a PE ratio of 17.54 and a beta of 0.97. The firm’s 50-day moving average price is $12.82 and its 200 day moving average price is $13.14.
First Commonwealth Financial Corporation (NYSE:FCF) last released its earnings results on Wednesday, July 26th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. First Commonwealth Financial Corporation had a net margin of 21.61% and a return on equity of 9.45%. The business had revenue of $76.72 million during the quarter, compared to analyst estimates of $76.82 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. On average, equities research analysts expect that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current fiscal year.
A number of research analysts have commented on FCF shares. Zacks Investment Research cut shares of First Commonwealth Financial Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub cut shares of First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 target price on shares of First Commonwealth Financial Corporation in a research report on Thursday. Canaccord Genuity raised shares of First Commonwealth Financial Corporation from a “speculative buy” rating to a “buy” rating and set a C$4.25 price target on the stock in a research report on Thursday, June 1st. Finally, FBR & Co reissued a “hold” rating on shares of First Commonwealth Financial Corporation in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. First Commonwealth Financial Corporation currently has a consensus rating of “Buy” and a consensus price target of $10.21.
In related news, Director Stephen Reid purchased 35,700 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average cost of $3.35 per share, with a total value of $119,595.00. Insiders bought 88,444 shares of company stock valued at $271,168 over the last three months. Corporate insiders own 1.72% of the company’s stock.
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First Commonwealth Financial Corporation Company Profile
First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.
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