First Commonwealth Financial (NYSE:FCF) Upgraded to Hold at Wall Street Zen

Key Points

• First Commonwealth Financial was upgraded from a "sell" to a "hold" rating by Wall Street Zen, signaling a more positive outlook for the stock.
• Consensus ratings indicate a Moderate Buy for First Commonwealth Financial with an average price target of $18.90.
• Recent insider activity shows Director Todd D. Brice increased his stake in the company by acquiring 7,000 shares at an average price of $16.09 per share.

First Commonwealth Financial (NYSE:FCF - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

A number of other brokerages have also weighed in on FCF. Royal Bank Of Canada cut their price target on shares of First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Keefe, Bruyette & Woods cut their price objective on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating on the stock in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, First Commonwealth Financial has a consensus rating of "Moderate Buy" and an average price target of $18.90.

First Commonwealth Financial Trading Down 1.1%

FCF opened at $16.33 on Friday. The firm has a 50 day simple moving average of $16.22 and a 200 day simple moving average of $15.92. First Commonwealth Financial has a fifty-two week low of $13.54 and a fifty-two week high of $19.96. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 12.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. First Commonwealth Financial had a return on equity of 9.71% and a net margin of 18.94%. The company had revenue of $131.33 million during the quarter, compared to the consensus estimate of $125.88 million. During the same period in the prior year, the company earned $0.37 earnings per share. On average, sell-side analysts anticipate that First Commonwealth Financial will post 1.45 earnings per share for the current year.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, Director Todd D. Brice acquired 7,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average price of $16.09 per share, with a total value of $112,630.00. Following the completion of the transaction, the director directly owned 10,500 shares in the company, valued at $168,945. This trade represents a 200.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FCF. US Bancorp DE lifted its position in First Commonwealth Financial by 2,911.4% during the 1st quarter. US Bancorp DE now owns 2,379 shares of the bank's stock worth $37,000 after buying an additional 2,300 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of First Commonwealth Financial by 815.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank's stock valued at $54,000 after acquiring an additional 2,839 shares during the last quarter. GAMMA Investing LLC raised its holdings in First Commonwealth Financial by 109.6% during the second quarter. GAMMA Investing LLC now owns 4,438 shares of the bank's stock worth $72,000 after acquiring an additional 2,321 shares in the last quarter. CWM LLC boosted its position in First Commonwealth Financial by 73.6% during the first quarter. CWM LLC now owns 7,932 shares of the bank's stock valued at $123,000 after purchasing an additional 3,362 shares during the last quarter. Finally, Aquatic Capital Management LLC grew its stake in First Commonwealth Financial by 128.9% in the fourth quarter. Aquatic Capital Management LLC now owns 8,011 shares of the bank's stock valued at $136,000 after purchasing an additional 4,511 shares in 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.

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