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

StockNews.com upgraded shares of First Commonwealth Financial (NYSE:FCF) from a sell rating to a hold rating in a research note released on Tuesday.

FCF has been the subject of several other reports. Keefe, Bruyette & Woods lifted their price objective 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 lowered their price target on shares of 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.70.

First Commonwealth Financial Trading Up 0.3 %

Shares of NYSE FCF opened at $17.10 on Tuesday. The business’s 50 day moving average price is $18.00 and its 200-day moving average price is $16.62. 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 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 has a fifty-two week low of $12.41 and a fifty-two week high of $19.96.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data 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 company had revenue of $121.21 million for the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. On average, sell-side analysts expect that First Commonwealth Financial will post 1.4 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is currently 35.14%.

Institutional Trading of First Commonwealth Financial

Several large investors have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in First Commonwealth Financial by 15.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after acquiring an additional 456,119 shares during the period. American Century Companies Inc. boosted its stake in shares of First Commonwealth Financial by 29.9% in the second 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 position in 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. Barclays PLC grew its stake in shares of First Commonwealth Financial by 121.8% during the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after purchasing an additional 116,295 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of First Commonwealth Financial by 2.9% in 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 purchasing an additional 105,116 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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.