First Commonwealth Financial (NYSE:FCF) Raised to Hold at StockNews.com

First Commonwealth Financial (NYSE:FCF) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

FCF has been the subject of a number of other research reports. Piper Sandler reduced their target price on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Keefe, Bruyette & Woods upped their target price on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Commonwealth Financial presently has an average rating of “Hold” and an average price target of $17.70.

First Commonwealth Financial Price Performance

FCF opened at $17.10 on Tuesday. The firm has a 50-day moving average price of $17.99 and a 200-day moving average price of $16.63. First Commonwealth Financial has a twelve month low of $12.41 and a twelve month high of $19.96. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 11.55 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCF) last posted its 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 return on equity of 11.19% and a net margin of 21.87%. The company had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. During the same quarter in the prior year, the company earned $0.39 EPS. The company’s revenue was down 1.1% on a year-over-year basis. Equities analysts expect that First Commonwealth Financial will post 1.4 EPS for the current year.

Institutional Investors Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently bought and sold shares of FCF. Farther Finance Advisors LLC increased its holdings in shares of First Commonwealth Financial by 2,572.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock worth $28,000 after buying an additional 1,595 shares during the last quarter. Quest Partners LLC bought a new position in First Commonwealth Financial in the second quarter valued at $34,000. Wilmington Savings Fund Society FSB purchased a new stake in First Commonwealth Financial during the third quarter valued at about $46,000. Innealta Capital LLC bought a new stake in First Commonwealth Financial during the second quarter worth about $51,000. Finally, CWM LLC boosted its holdings in shares of First Commonwealth Financial by 92.0% in the 3rd quarter. CWM LLC now owns 3,830 shares of the bank’s stock worth $66,000 after purchasing an additional 1,835 shares in the last quarter. 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.