First Commonwealth Financial Corporation (NYSE:FCF) to Issue Quarterly Dividend of $0.08

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.

Dividend History for First Commonwealth Financial Corporation (NYSE:FCF)

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