DA Davidson Upgrades First Commonwealth Financial (NYSE:FCF) to “Hold”

First Commonwealth Financial (NYSE:FCF) was upgraded by analysts at DA Davidson to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods boosted their price target on First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a research report on Friday, August 14th. Raymond James Financial reaffirmed an “outperform” rating and set a $24.00 price target on shares of First Commonwealth Financial in a research report on Friday, July 31st. Royal Bank Of Canada lifted their price objective on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Piper Sandler restated an “overweight” rating and set a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

First Commonwealth Financial Trading Down 1.1%

Shares of FCF stock opened at $20.34 on Monday. The firm has a 50 day moving average price of $21.17 and a two-hundred day moving average price of $19.69. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.06 billion, a PE ratio of 12.48 and a beta of 0.74. First Commonwealth Financial has a 12-month low of $15.00 and a 12-month high of $22.34.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%.The company had revenue of $139.42 million during the quarter, compared to analysts’ expectations of $137.48 million. As a group, analysts predict that First Commonwealth Financial will post 1.73 earnings per share for the current year.

Insider Activity

In other news, CFO James Reske sold 2,072 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $21.25, for a total transaction of $44,030.00. Following the sale, the chief financial officer directly owned 73,060 shares of the company’s stock, valued at approximately $1,552,525. This represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,216 shares of company stock worth $131,779. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On First Commonwealth Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in First Commonwealth Financial in the 2nd quarter valued at about $29,000. Public Employees Retirement System of Ohio acquired a new position in shares of First Commonwealth Financial in the 2nd quarter valued at approximately $32,000. MCF Advisors LLC bought a new stake in shares of First Commonwealth Financial during the 2nd quarter worth approximately $32,000. Blue Trust Inc. lifted its holdings in shares of First Commonwealth Financial by 136.2% during the 1st quarter. Blue Trust Inc. now owns 7,125 shares of the bank’s stock worth $125,000 after acquiring an additional 4,108 shares during the period. Finally, DGS Capital Management LLC acquired a new stake in shares of First Commonwealth Financial during the 4th quarter worth approximately $175,000. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation is a financial services company headquartered in Indiana, Pennsylvania, and the parent company of First Commonwealth Bank. The bank serves individuals, families, businesses and institutions through a network of community banking offices and digital banking channels.

First Commonwealth Bank provides a range of consumer and commercial banking products, including checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, personal lending, commercial loans and lines of credit.