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

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

FCF has been the subject of a number of other reports. Keefe, Bruyette & Woods lifted their price target on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler cut their target price on 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.70.

Check Out Our Latest Stock Analysis on First Commonwealth Financial

First Commonwealth Financial Trading Up 0.1 %

FCF opened at $16.92 on Wednesday. The stock has a 50-day moving average of $17.97 and a 200 day moving average of $16.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a 12 month low of $12.41 and a 12 month high of $19.96. The firm has a market cap of $1.72 billion, a P/E ratio of 11.43 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCFGet Free Report) last announced its earnings results on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $121.21 million during 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%. First Commonwealth Financial’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. As a group, research analysts forecast that First Commonwealth Financial will post 1.4 EPS for the current year.

First Commonwealth Financial Announces Dividend

The company 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 payout ratio is 35.14%.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in FCF. Farther Finance Advisors LLC boosted its stake in shares of First Commonwealth Financial by 2,572.6% during the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,595 shares in the last quarter. Quest Partners LLC purchased a new stake in First Commonwealth Financial during the second quarter worth $34,000. Wilmington Savings Fund Society FSB purchased a new position in shares of First Commonwealth Financial in the 3rd quarter valued at $46,000. CWM LLC raised its position in shares of 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 acquiring an additional 1,835 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of First Commonwealth Financial during the 3rd quarter worth $72,000. Institutional investors own 72.58% of the company’s stock.

About First Commonwealth Financial

(Get Free Report)

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.

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