First Commonwealth Financial (NYSE:FCF) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of First Commonwealth Financial (NYSE:FCF) from a hold rating to a sell rating in a report published on Monday.

A number of other research firms have also recently commented on FCF. Keefe, Bruyette & Woods raised their target price 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. Piper Sandler lowered their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.70.

First Commonwealth Financial Stock Up 0.5 %

Shares of First Commonwealth Financial stock opened at $18.37 on Monday. The company’s fifty day simple moving average is $17.95 and its two-hundred day simple moving average is $16.46. First Commonwealth Financial has a 12-month low of $12.41 and a 12-month high of $19.96. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.87 billion, a P/E ratio of 12.41 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The company had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. During the same quarter in the prior year, the firm earned $0.39 EPS. First Commonwealth Financial’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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 35.14%.

Insider Buying and Selling at First Commonwealth Financial

In other news, EVP Michael P. Mccuen purchased 2,919 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were purchased at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the acquisition, the executive vice president now directly owns 57,623 shares in the company, valued at $979,014.77. This represents a 5.34 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Commonwealth Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 233,955 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 buying an additional 105,116 shares during the last quarter. Franklin Resources Inc. boosted 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 valued at $58,601,000 after buying an additional 456,119 shares during the last quarter. American Century Companies Inc. increased its holdings 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its position in 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 worth $16,702,000 after buying an additional 33,759 shares during the last quarter. 72.58% of the stock is 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.