First Commonwealth Financial (NYSE:FCF) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of First Commonwealth Financial (NYSE:FCF) from a hold rating to a sell rating in a research report released on Wednesday morning.

FCF has been the topic of several other research reports. Piper Sandler lowered their target price 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 lifted their price objective on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens reaffirmed an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.58.

First Commonwealth Financial Stock Down 0.1 %

First Commonwealth Financial stock opened at $16.69 on Wednesday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 12.01 and a beta of 0.88. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $17.34 and its two-hundred day moving average price is $17.16. First Commonwealth Financial has a 52 week low of $12.41 and a 52 week high of $19.96.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.43%. On average, analysts expect that First Commonwealth Financial will post 1.43 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.52 annualized dividend and a dividend yield of 3.12%. First Commonwealth Financial’s dividend payout ratio is currently 37.41%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in First Commonwealth Financial by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after purchasing an additional 105,116 shares during the period. Barclays PLC boosted its position in shares of First Commonwealth Financial by 121.8% in 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 period. Royce & Associates LP acquired a new stake in shares of First Commonwealth Financial in the third quarter worth $678,000. BNP Paribas Financial Markets grew its holdings in shares of First Commonwealth Financial by 64.2% during the third quarter. BNP Paribas Financial Markets now owns 34,892 shares of the bank’s stock valued at $598,000 after buying an additional 13,643 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in First Commonwealth Financial by 7.2% during the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock valued at $9,243,000 after buying an additional 36,001 shares during the period. 72.58% of the stock is owned by hedge funds and other 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.