First Commonwealth Financial (NYSE:FCF) Raised to "Hold" 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 report sent to investors on Tuesday morning.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods boosted their price target on 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. Piper Sandler dropped their target price on First Commonwealth Financial from $17.00 to $16.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, First Commonwealth Financial presently has a consensus rating of "Hold" and an average price target of $17.70.

First Commonwealth Financial Stock Up 0.3 %

Shares of NYSE FCF traded up $0.05 during mid-day trading on Tuesday, hitting $17.10. 286,437 shares of the stock traded hands, compared to its average volume of 518,981. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 11.55 and a beta of 0.86. The stock has a fifty day moving average price of $18.00 and a 200-day moving average price of $16.60. First Commonwealth Financial has a 52 week low of $12.41 and a 52 week high of $19.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its earnings results 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). 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 analysts' expectations of $119.47 million. During the same period in the prior year, the company earned $0.39 earnings per share. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts anticipate that First Commonwealth Financial will post 1.4 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial's payout ratio is currently 35.14%.

Institutional Trading of First Commonwealth Financial

A number of large investors have recently made changes to their positions in FCF. Franklin Resources Inc. boosted its holdings in First Commonwealth Financial by 15.3% in the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank's stock worth $58,601,000 after purchasing an additional 456,119 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of First Commonwealth Financial by 29.9% in the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank's stock worth $23,107,000 after buying an additional 384,892 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Commonwealth Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank's stock worth $96,503,000 after buying an additional 233,955 shares during the last quarter. Barclays PLC grew its holdings in shares of First Commonwealth Financial by 121.8% in the third quarter. Barclays PLC now owns 211,797 shares of the bank's stock worth $3,631,000 after acquiring an additional 116,295 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position 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 valued at $64,876,000 after acquiring an additional 105,116 shares during the last quarter. 72.58% of the stock is currently owned by 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.