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

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

Several other research analysts have also issued reports on FCF. Piper Sandler dropped their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Keefe, Bruyette & Woods increased 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 report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.70.

First Commonwealth Financial Price Performance

Shares of First Commonwealth Financial stock traded up $0.02 during trading on Wednesday, hitting $16.92. 375,044 shares of the company's stock traded hands, compared to its average volume of 516,575. First Commonwealth Financial has a twelve month low of $12.41 and a twelve month high of $19.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $1.72 billion, a PE ratio of 11.43 and a beta of 0.86. The firm's fifty day moving average price is $17.97 and its 200 day moving average price is $16.77.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). The company had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. Analysts forecast that First Commonwealth Financial will post 1.4 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued 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 dividend payout ratio is 35.14%.

Hedge Funds Weigh In On First Commonwealth Financial

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of First Commonwealth Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank's stock valued at $96,503,000 after acquiring an additional 233,955 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank's stock worth $64,876,000 after purchasing an additional 105,116 shares during the last quarter. Franklin Resources Inc. lifted its position in First Commonwealth Financial by 15.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank's stock valued at $58,601,000 after purchasing an additional 456,119 shares during the period. American Century Companies Inc. lifted its position in First Commonwealth Financial by 29.9% during the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank's stock valued at $23,107,000 after purchasing an additional 384,892 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of First Commonwealth Financial by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank's stock valued at $16,702,000 after purchasing an additional 33,759 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

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.