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 report sent to investors on Wednesday.

Other research analysts have also issued research reports about the stock. Piper Sandler cut 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 note on Thursday, October 31st. Keefe, Bruyette & Woods upped their target price on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.70.

First Commonwealth Financial Stock Performance

Shares of FCF opened at $16.92 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. The firm has a market cap of $1.72 billion, a PE ratio of 11.43 and a beta of 0.86. First Commonwealth Financial has a 12 month low of $12.41 and a 12 month high of $19.96. The stock has a fifty day moving average price of $17.97 and a 200-day moving average price of $16.77.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share 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 business had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. During the same period in the prior year, the business posted $0.39 EPS. First Commonwealth Financial’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that First Commonwealth Financial will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.07%. First Commonwealth Financial’s payout ratio is currently 35.14%.

Institutional Investors Weigh In On First Commonwealth Financial

Several hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted 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 valued at $28,000 after buying an additional 1,595 shares during the period. Quest Partners LLC purchased a new position in First Commonwealth Financial during the second quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB acquired a new position in First Commonwealth Financial in the third quarter valued at approximately $46,000. CWM LLC boosted its position in 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. Finally, nVerses Capital LLC acquired a new stake in shares of First Commonwealth Financial during the 3rd quarter worth approximately $72,000. 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.