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

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

FCF has been the topic of a number of other research reports. Piper Sandler reduced their target price on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Keefe, Bruyette & Woods raised their price objective 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, First Commonwealth Financial has an average rating of “Hold” and an average price target of $17.70.

First Commonwealth Financial Trading Up 0.7 %

FCF opened at $17.05 on Tuesday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 11.52 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a twelve month low of $12.41 and a twelve month high of $19.96. The company has a 50-day simple moving average of $18.00 and a 200 day simple moving average of $16.57.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results 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 firm had revenue of $121.21 million for the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Analysts predict that First Commonwealth Financial will post 1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in shares of First Commonwealth Financial by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the bank’s stock valued at $708,000 after purchasing an additional 900 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in First Commonwealth Financial by 2.9% during 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 acquiring an additional 33,759 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Commonwealth Financial by 15.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,656 shares of the bank’s stock valued at $451,000 after acquiring an additional 4,262 shares during the period. Innealta Capital LLC bought a new position in shares of First Commonwealth Financial during the second quarter valued at $51,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of First Commonwealth Financial during the second quarter worth $693,000. Institutional investors and hedge funds 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.