StockNews.com Upgrades First Commonwealth Financial (NYSE:FCF) to “Hold”

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

Several other equities research analysts have also issued reports on FCF. 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 increased their price target on First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, First Commonwealth Financial has a consensus rating of “Hold” and a consensus price target of $17.70.

First Commonwealth Financial Stock Down 2.2 %

Shares of FCF stock opened at $16.54 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a twelve month low of $12.41 and a twelve month high of $19.96. The stock has a 50 day moving average of $17.97 and a 200 day moving average of $16.76. The stock has a market cap of $1.68 billion, a P/E ratio of 11.18 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 net margin of 21.87% and a return on equity of 11.19%. The firm had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts expect that First Commonwealth Financial will post 1.4 EPS for the current year.

Institutional Investors Weigh In On First Commonwealth Financial

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of First Commonwealth Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock valued at $96,503,000 after acquiring an additional 233,955 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $64,876,000 after purchasing an additional 105,116 shares in the last quarter. Franklin Resources Inc. boosted 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 purchasing an additional 456,119 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of First Commonwealth Financial by 29.9% during the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after buying an additional 384,892 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of First Commonwealth Financial by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock valued at $16,702,000 after buying an additional 33,759 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

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.