First Commonwealth Financial (NYSE:FCF) was upgraded by investment analysts at ValuEngine from a "sell" rating to a "hold" rating in a research note issued to investors on Thursday, ValuEngine reports.
FCF has been the subject of several other research reports. Piper Sandler downgraded shares of First Commonwealth Financial from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $11.00 to $10.00 in a research note on Friday, May 1st. DA Davidson lowered their price objective on First Commonwealth Financial from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, April 30th. Royal Bank of Canada cut shares of First Commonwealth Financial from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $12.00 to $9.00 in a report on Wednesday, May 13th. B. Riley lowered shares of First Commonwealth Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $16.00 to $9.00 in a report on Wednesday, March 25th. Finally, Zacks Investment Research raised First Commonwealth Financial from a "sell" rating to a "hold" rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, First Commonwealth Financial presently has a consensus rating of "Hold" and a consensus price target of $10.40.
Shares of First Commonwealth Financial stock opened at $8.28 on Thursday. The business's fifty day simple moving average is $8.09 and its 200-day simple moving average is $10.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. The firm has a market cap of $786.06 million, a PE ratio of 9.52 and a beta of 1.07. First Commonwealth Financial has a 52 week low of $6.77 and a 52 week high of $14.93.
First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.14). First Commonwealth Financial had a net margin of 20.80% and a return on equity of 8.46%. The company had revenue of $87.00 million during the quarter, compared to analysts' expectations of $89.07 million. During the same period last year, the firm posted $0.25 earnings per share. As a group, equities analysts expect that First Commonwealth Financial will post 0.61 earnings per share for the current year.
In other First Commonwealth Financial news, EVP Matthew C. Tomb acquired 4,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $6.93 per share, with a total value of $27,720.00. Following the transaction, the executive vice president now owns 63,647 shares of the company's stock, valued at approximately $441,073.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.53% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in FCF. Versant Capital Management Inc grew its position in First Commonwealth Financial by 79.0% in the 1st quarter. Versant Capital Management Inc now owns 3,537 shares of the bank's stock valued at $32,000 after buying an additional 1,561 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in First Commonwealth Financial by 97.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,066 shares of the bank's stock valued at $110,000 after purchasing an additional 5,961 shares in the last quarter. S&T Bank PA acquired a new position in First Commonwealth Financial during the first quarter worth $121,000. Advisor Group Holdings Inc. acquired a new stake in First Commonwealth Financial in the first quarter valued at $129,000. Finally, Envestnet Asset Management Inc. boosted its holdings in First Commonwealth Financial by 26.0% during the first quarter. Envestnet Asset Management Inc. now owns 15,135 shares of the bank's stock worth $138,000 after buying an additional 3,127 shares in the last quarter. Institutional investors and hedge funds own 68.03% of the company's stock.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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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