First Commonwealth Financial (NYSE:FCF) Rating Lowered to Sell at StockNews.com

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

A number of other equities analysts also recently commented on the company. 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 report on Wednesday, December 4th. Piper Sandler dropped their price objective 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. One equities research 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, the stock currently has an average rating of “Hold” and an average target price of $17.70.

First Commonwealth Financial Trading Down 2.9 %

NYSE:FCF opened at $17.84 on Monday. The firm has a market capitalization of $1.82 billion, a P/E ratio of 12.05 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $17.99 and a 200 day moving average of $16.49. First Commonwealth Financial has a 52 week low of $12.41 and a 52 week high of $19.96.

First Commonwealth Financial (NYSE:FCF) last posted 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). The firm had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, research analysts predict that First Commonwealth Financial will post 1.4 earnings per share for the current year.

Insider Activity at First Commonwealth Financial

In other news, EVP Michael P. Mccuen acquired 2,919 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares in the company, valued at approximately $979,014.77. The trade was a 5.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.97% of the stock is currently owned by insiders.

Institutional Trading of First Commonwealth Financial

Several institutional investors have recently added to or reduced their stakes in FCF. Franklin Resources Inc. lifted its holdings 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 valued at $58,601,000 after purchasing an additional 456,119 shares in the last quarter. American Century Companies Inc. raised its position in 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 lifted its stake in First Commonwealth Financial by 3.5% during the 2nd 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. Barclays PLC lifted 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 acquiring an additional 116,295 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 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 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.