First Commonwealth Financial (NYSE:FCF) Downgraded by StockNews.com to Sell

First Commonwealth Financial (NYSE:FCF) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

A number of other research firms also recently weighed in on FCF. Piper Sandler reduced their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Keefe, Bruyette & Woods increased their price target on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.70.

First Commonwealth Financial Price Performance

NYSE:FCF traded up $0.09 during mid-day trading on Monday, reaching $18.37. The stock had a trading volume of 508,036 shares, compared to its average volume of 512,808. First Commonwealth Financial has a 12 month low of $12.41 and a 12 month high of $19.96. The stock has a market capitalization of $1.87 billion, a PE ratio of 12.41 and a beta of 0.86. 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 50-day simple moving average of $17.95 and a two-hundred day simple moving average of $16.46.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The business had revenue of $121.21 million during the quarter, compared to the consensus estimate of $119.47 million. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that First Commonwealth Financial will post 1.4 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Michael P. Mccuen acquired 2,919 shares of First Commonwealth Financial stock in a transaction dated Monday, September 23rd. The shares were bought at an average cost of $16.99 per share, with a total value of $49,593.81. Following the purchase, the executive vice president now owns 57,623 shares in the company, valued at $979,014.77. This trade represents a 5.34 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Commonwealth Financial

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its stake in First Commonwealth Financial by 15.3% in the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock valued at $58,601,000 after acquiring an additional 456,119 shares during the period. American Century Companies Inc. grew its position in First Commonwealth Financial by 29.9% in the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock valued at $23,107,000 after purchasing an additional 384,892 shares during the period. Dimensional Fund Advisors LP increased its stake in First Commonwealth Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock valued at $96,503,000 after purchasing an additional 233,955 shares in the last quarter. Barclays PLC raised its holdings in First Commonwealth Financial by 121.8% during the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after buying an additional 116,295 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of First Commonwealth Financial by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock valued at $64,876,000 after buying an additional 105,116 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors.

First Commonwealth Financial Company Profile

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.