StockNews.com Downgrades First Commonwealth Financial (NYSE:FCF) to Sell

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

Several other analysts have also weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. DA Davidson reaffirmed a “buy” rating and set a $21.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of First Commonwealth Financial in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, First Commonwealth Financial presently has an average rating of “Hold” and an average price target of $19.58.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $14.09 on Friday. The firm has a 50 day moving average of $16.07 and a 200-day moving average of $16.92. 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 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.43 billion, a PE ratio of 10.14 and a beta of 0.72.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. On average, equities research analysts predict that First Commonwealth Financial will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.52 dividend on an annualized basis and a yield of 3.69%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 37.41%.

Institutional Investors Weigh In On First Commonwealth Financial

Institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC lifted its holdings in shares of First Commonwealth Financial by 4.2% during the third quarter. Sanctuary Advisors LLC now owns 15,623 shares of the bank’s stock worth $268,000 after purchasing an additional 633 shares during the period. Pictet Asset Management Holding SA raised its position in First Commonwealth Financial by 5.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,402 shares of the bank’s stock worth $227,000 after purchasing an additional 705 shares during the last quarter. Sei Investments Co. raised its position in First Commonwealth Financial by 3.9% during the 4th quarter. Sei Investments Co. now owns 23,857 shares of the bank’s stock worth $404,000 after purchasing an additional 895 shares during the last quarter. Aigen Investment Management LP grew its position in shares of First Commonwealth Financial by 6.0% in the 4th quarter. Aigen Investment Management LP now owns 17,398 shares of the bank’s stock valued at $294,000 after buying an additional 983 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of First Commonwealth Financial by 6.2% in the 4th quarter. Bank of Montreal Can now owns 17,932 shares of the bank’s stock valued at $303,000 after buying an additional 1,048 shares during the last quarter. 72.58% of the stock is owned by institutional investors.

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.