First Commonwealth Financial (NYSE:FCF) Cut to Sell at StockNews.com

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

FCF has been the topic of several other reports. Stephens reaffirmed an “overweight” rating and issued a $21.50 price target on shares of First Commonwealth Financial in a report on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler cut 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 report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, First Commonwealth Financial has a consensus rating of “Hold” and an average price target of $19.58.

First Commonwealth Financial Trading Down 0.1 %

NYSE FCF opened at $16.69 on Wednesday. The company’s fifty day simple moving average is $17.34 and its 200-day simple moving average is $17.16. First Commonwealth Financial has a 52 week low of $12.41 and a 52 week high of $19.96. 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 stock has a market cap of $1.70 billion, a P/E ratio of 12.01 and a beta of 0.88.

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

First Commonwealth Financial Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FCF. Franklin Resources Inc. lifted its position in shares of First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after buying an additional 456,119 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of First Commonwealth Financial in the 4th quarter worth about $2,147,000. Barclays PLC increased its holdings in shares of First Commonwealth Financial by 121.8% in the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after acquiring an additional 116,295 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 105,116 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of First Commonwealth Financial by 39.5% in the 3rd quarter. Jane Street Group LLC now owns 150,590 shares of the bank’s stock worth $2,583,000 after acquiring an additional 42,632 shares during the period. 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.