First Commonwealth Financial Co. (NYSE:FCF – Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Friday, May 3rd will be paid a dividend of 0.13 per share by the bank on Friday, May 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.13.
First Commonwealth Financial has raised its dividend by an average of 4.0% annually over the last three years and has raised its dividend every year for the last 7 years. First Commonwealth Financial has a dividend payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Commonwealth Financial to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 34.2%.
First Commonwealth Financial Price Performance
NYSE:FCF traded down $0.17 during trading hours on Wednesday, reaching $13.41. 68,916 shares of the company were exchanged, compared to its average volume of 511,180. The company has a market capitalization of $1.37 billion, a P/E ratio of 8.73 and a beta of 0.87. First Commonwealth Financial has a 1-year low of $11.16 and a 1-year high of $15.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day moving average of $13.27 and a 200 day moving average of $13.60.
Wall Street Analyst Weigh In
FCF has been the topic of a number of research analyst reports. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of First Commonwealth Financial in a report on Tuesday, April 9th. Finally, Stephens reduced their target price on First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a report on Tuesday, February 6th.
Get Our Latest Stock Analysis on FCF
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.
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