First Commonwealth Financial (NYSE:FCF) Downgraded by StockNews.com

StockNews.com downgraded shares of First Commonwealth Financial (NYSE:FCF) from a hold rating to a sell rating in a report published on Wednesday.

FCF has been the subject of a number of other reports. Janney Montgomery Scott lowered shares of First Commonwealth Financial from a buy rating to a neutral rating and increased their price target for the stock from $16.00 to $19.00 in a research report on Monday, July 29th. Piper Sandler increased their target price on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the stock a neutral rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods boosted their price target on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a market perform rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price objective on First Commonwealth Financial from $17.00 to $18.00 and gave the company an outperform rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, First Commonwealth Financial currently has an average rating of Hold and a consensus price target of $17.50.

First Commonwealth Financial Trading Up 1.4 %

First Commonwealth Financial stock opened at $16.47 on Wednesday. The company has a 50 day moving average price of $16.75 and a 200 day moving average price of $14.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92. First Commonwealth Financial has a 52 week low of $11.16 and a 52 week high of $19.01. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 10.23 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.34 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. First Commonwealth Financial’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. Research analysts forecast that First Commonwealth Financial will post 1.44 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio is 32.30%.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen acquired 2,919 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were acquired at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the purchase, the executive vice president now owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.97% of the company’s stock.

Institutional Trading of First Commonwealth Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its position in First Commonwealth Financial by 451.1% in the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after purchasing an additional 1,633 shares during the last quarter. Quest Partners LLC bought a new stake in shares of First Commonwealth Financial in the second quarter valued at about $34,000. Innealta Capital LLC acquired a new stake in First Commonwealth Financial during the second quarter worth about $51,000. Algert Global LLC bought a new position in First Commonwealth Financial during the second quarter valued at about $142,000. Finally, Entropy Technologies LP acquired a new position in First Commonwealth Financial in the 1st quarter valued at approximately $152,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

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.