First Commonwealth Financial (NYSE:FCF) Upgraded at StockNews.com

First Commonwealth Financial (NYSE:FCF) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Piper Sandler decreased their price target on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.30.

First Commonwealth Financial Trading Down 0.8 %

FCF traded down $0.15 during trading hours on Wednesday, reaching $18.98. The company’s stock had a trading volume of 393,233 shares, compared to its average volume of 517,043. First Commonwealth Financial has a fifty-two week low of $12.41 and a fifty-two week high of $19.96. The stock has a market cap of $1.93 billion, a PE ratio of 12.82 and a beta of 0.83. The business’s 50-day moving average is $17.43 and its 200-day moving average is $15.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The firm had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that First Commonwealth Financial will post 1.4 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Michael P. Mccuen acquired 2,919 shares of First Commonwealth Financial stock in a transaction dated Monday, September 23rd. The shares were acquired at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the purchase, the executive vice president now owns 57,623 shares in the company, valued at approximately $979,014.77. The trade was a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.97% of the company’s stock.

Hedge Funds Weigh In On First Commonwealth Financial

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in First Commonwealth Financial by 15.3% in the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock valued at $58,601,000 after buying an additional 456,119 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in First Commonwealth Financial in the third quarter valued at $46,000. Sanctuary Advisors LLC increased its holdings in First Commonwealth Financial by 4.2% in the third quarter. Sanctuary Advisors LLC now owns 15,623 shares of the bank’s stock valued at $268,000 after buying an additional 633 shares during the last quarter. Barclays PLC increased its holdings in First Commonwealth Financial by 121.8% in the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock valued at $3,631,000 after buying an additional 116,295 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in First Commonwealth Financial by 39.5% in the third quarter. Jane Street Group LLC now owns 150,590 shares of the bank’s stock valued at $2,583,000 after buying an additional 42,632 shares during the last quarter. 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.