First Commonwealth Financial (NYSE:FCF) Stock Rating Lowered by StockNews.com

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

A number of other analysts also recently weighed in on the company. Piper Sandler decreased their price target on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Stephens reaffirmed an “overweight” rating and set a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price target on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.58.

First Commonwealth Financial Stock Performance

Shares of FCF stock opened at $16.66 on Wednesday. The stock has a market capitalization of $1.70 billion, a PE ratio of 11.25 and a beta of 0.88. The business’s 50 day simple moving average is $17.39 and its 200 day simple moving average is $17.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. First Commonwealth Financial has a one year low of $12.41 and a one year high of $19.96.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. As a group, research analysts forecast that First Commonwealth Financial will post 1.4 earnings per share for the current year.

Institutional Trading of First Commonwealth Financial

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in First Commonwealth Financial by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after buying an additional 105,116 shares during the last quarter. Franklin Resources Inc. increased its position in shares of First Commonwealth Financial by 15.3% during the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after acquiring an additional 456,119 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of First Commonwealth Financial by 7.2% in the 3rd quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock worth $9,243,000 after acquiring an additional 36,001 shares during the last quarter. Nordea Investment Management AB lifted its position in First Commonwealth Financial by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 213,437 shares of the bank’s stock valued at $3,611,000 after acquiring an additional 6,091 shares in the last quarter. Finally, Barclays PLC boosted its stake in First Commonwealth Financial by 121.8% during the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank’s stock valued at $3,631,000 after purchasing an additional 116,295 shares during the last quarter. 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.