First Commonwealth Financial (NYSE:FCF) Stock Rating Upgraded by StockNews.com

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

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

First Commonwealth Financial Price Performance

FCF stock opened at $18.98 on Wednesday. The firm has a 50 day moving average of $17.47 and a 200-day moving average of $16.00. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 12.82 and a beta of 0.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a 12-month low of $12.41 and a 12-month high of $19.96.

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

Insider Activity at First Commonwealth Financial

In other news, EVP Michael P. Mccuen bought 2,919 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $16.99 per share, with a total value of $49,593.81. Following the purchase, the executive vice president now owns 57,623 shares of the company’s stock, valued at $979,014.77. This trade represents a 5.34 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.97% of the company’s stock.

Institutional Investors Weigh In On First Commonwealth Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of First Commonwealth Financial by 2,572.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock worth $28,000 after purchasing an additional 1,595 shares during the period. CWM LLC grew its holdings in First Commonwealth Financial by 451.1% in the second 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 period. Quest Partners LLC purchased a new position in First Commonwealth Financial during the second quarter worth approximately $34,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of First Commonwealth Financial during the 3rd quarter valued at $46,000. Finally, Innealta Capital LLC acquired a new stake in shares of First Commonwealth Financial during the 2nd quarter worth $51,000. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

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.