First Commonwealth Financial (NYSE:FCF) Upgraded at StockNews.com

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

A number of other equities analysts also recently commented on FCF. Keefe, Bruyette & Woods lifted 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 research note on Wednesday, December 4th. Piper Sandler reduced 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 research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, First Commonwealth Financial presently has a consensus rating of “Hold” and a consensus target price of $17.70.

First Commonwealth Financial Price Performance

NYSE:FCF opened at $16.74 on Wednesday. First Commonwealth Financial has a one year low of $12.41 and a one year high of $19.96. The stock has a market cap of $1.70 billion, a PE ratio of 11.31 and a beta of 0.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average price of $17.97 and a 200 day moving average price of $16.79.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. Equities research analysts expect that First Commonwealth Financial will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

Institutional Trading of First Commonwealth Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in 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 valued at $28,000 after acquiring an additional 1,595 shares in the last quarter. Quest Partners LLC acquired a new position in shares of First Commonwealth Financial in the second quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB purchased a new stake in First Commonwealth Financial during the 3rd quarter worth approximately $46,000. CWM LLC increased its stake in First Commonwealth Financial by 92.0% during the 3rd quarter. CWM LLC now owns 3,830 shares of the bank’s stock worth $66,000 after buying an additional 1,835 shares during the period. Finally, nVerses Capital LLC acquired a new stake in First Commonwealth Financial during the 3rd quarter worth approximately $72,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

About First Commonwealth Financial

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.