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

First Commonwealth Financial (NYSE:FCF) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other research analysts have also commented on FCF. Janney Montgomery Scott lowered First Commonwealth Financial from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $16.00 to $19.00 in a research report on Monday, July 29th. Royal Bank of Canada boosted their price target on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler boosted their price target on First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price target on First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, First Commonwealth Financial presently has an average rating of “Hold” and a consensus target price of $17.50.

First Commonwealth Financial Stock Down 2.1 %

NYSE FCF traded down $0.35 on Wednesday, reaching $16.24. 438,762 shares of the stock traded hands, compared to its average volume of 515,714. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92. The company has a fifty day moving average price of $16.79 and a 200-day moving average price of $14.81. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 10.09 and a beta of 0.83. First Commonwealth Financial has a 12 month low of $11.16 and a 12 month high of $19.01.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.34 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. First Commonwealth Financial’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. As a group, research analysts forecast that First Commonwealth Financial will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling

In other First Commonwealth Financial news, EVP Michael P. Mccuen bought 2,919 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at $979,014.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.97% of the stock is owned by company insiders.

Institutional Trading of First Commonwealth Financial

Several large investors have recently added to or reduced their stakes in FCF. CWM LLC grew its stake in First Commonwealth Financial by 451.1% during the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,633 shares during the last quarter. Quest Partners LLC purchased a new stake in First Commonwealth Financial during the 2nd quarter valued at about $34,000. Innealta Capital LLC purchased a new stake in First Commonwealth Financial during the 2nd quarter valued at about $51,000. Algert Global LLC purchased a new stake in shares of First Commonwealth Financial in the second quarter worth about $142,000. Finally, Entropy Technologies LP purchased a new stake in shares of First Commonwealth Financial in the first quarter worth about $152,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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.