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

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

Several other brokerages also recently commented on FCF. Piper Sandler lowered their price objective 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. Keefe, Bruyette & Woods boosted their price target on First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens reaffirmed an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Stock Performance

FCF opened at $16.66 on Wednesday. The firm has a market cap of $1.70 billion, a P/E ratio of 11.25 and a beta of 0.88. The business’s fifty day moving average is $17.39 and its 200-day moving average is $17.15. First Commonwealth Financial has a 52-week low of $12.41 and a 52-week high of $19.96. 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 (NYSE:FCF) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. Sell-side analysts expect that First Commonwealth Financial will post 1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On First Commonwealth Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of FCF. Sanctuary Advisors LLC boosted its stake 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 valued at $268,000 after purchasing an additional 633 shares in the last quarter. Natixis Advisors LLC raised its holdings in First Commonwealth Financial by 5.9% in the 3rd quarter. Natixis Advisors LLC now owns 15,882 shares of the bank’s stock valued at $272,000 after buying an additional 883 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in First Commonwealth Financial by 6.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,383 shares of the bank’s stock worth $332,000 after buying an additional 1,112 shares during the period. 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 during the period. Finally, CWM LLC raised its stake in shares of First Commonwealth Financial by 92.0% during the third quarter. CWM LLC now owns 3,830 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,835 shares during the last quarter. 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.