First Commonwealth Financial (NYSE:FCF) Upgraded at StockNews.com

First Commonwealth Financial (NYSE:FCF) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other research firms have also recently weighed in on FCF. Piper Sandler dropped their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Keefe, Bruyette & Woods upped their price objective on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, First Commonwealth Financial has a consensus rating of “Hold” and an average target price of $17.70.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock opened at $16.54 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50 day moving average price is $17.97 and its 200 day moving average price is $16.76. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 11.18 and a beta of 0.86. First Commonwealth Financial has a one year low of $12.41 and a one year high of $19.96.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share 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 firm had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. During the same period in the previous year, the firm posted $0.39 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. On average, research analysts predict that First Commonwealth Financial will post 1.4 EPS for the current year.

Institutional Trading of First Commonwealth Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of First Commonwealth Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock worth $96,503,000 after buying an additional 233,955 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after acquiring an additional 105,116 shares in the last quarter. Franklin Resources Inc. lifted its stake in First Commonwealth Financial by 15.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after acquiring an additional 456,119 shares in the last quarter. American Century Companies Inc. boosted its holdings in First Commonwealth Financial by 29.9% during the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock valued at $23,107,000 after acquiring an additional 384,892 shares during the period. Finally, Bank of New York Mellon Corp grew its position in First Commonwealth Financial by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock valued at $16,702,000 after acquiring an additional 33,759 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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.