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

First Commonwealth Financial (NYSE:FCF) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Other research analysts have also recently issued reports about the company. Piper Sandler reduced their target price 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. Stephens reaffirmed an “overweight” rating and set a $21.50 price objective on shares of First Commonwealth Financial in a report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of First Commonwealth Financial in a research report on Thursday, January 30th. DA Davidson reissued a “buy” rating and issued a $21.00 price target on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Finally, 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.58.

First Commonwealth Financial Stock Performance

Shares of FCF stock opened at $16.60 on Friday. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 11.94 and a beta of 0.87. First Commonwealth Financial has a 1-year low of $12.41 and a 1-year 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’s fifty day simple moving average is $16.94 and its 200-day simple moving average is $17.14.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share 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, sell-side analysts predict that First Commonwealth Financial will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in First Commonwealth Financial by 2,572.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,595 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of First Commonwealth Financial during the fourth quarter valued at approximately $42,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of First Commonwealth Financial in the third quarter valued at approximately $46,000. Sterling Capital Management LLC raised its position in First Commonwealth Financial by 815.8% in the 4th quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank’s stock worth $54,000 after purchasing an additional 2,839 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in First Commonwealth Financial by 56.8% during the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank’s stock worth $57,000 after buying an additional 1,227 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

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.