First Commonwealth Financial (NYSE:FCF) Rating Lowered to "Sell" at StockNews.com

StockNews.com downgraded shares of First Commonwealth Financial (NYSE:FCF - Free Report) from a hold rating to a sell rating in a research note published on Wednesday morning.

Other equities research analysts also recently issued research reports about the company. Stephens reiterated an "overweight" rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lowered their price target on First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. Royal Bank of Canada lowered their price target on First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, DA Davidson restated a "buy" rating and issued a $21.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $18.92.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock traded up $0.55 on Wednesday, reaching $16.21. The company's stock had a trading volume of 56,846 shares, compared to its average volume of 620,323. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 11.66 and a beta of 0.77. The business's fifty day moving average price is $15.22 and its 200 day moving average price is $16.56. First Commonwealth Financial has a twelve month low of $12.71 and a twelve month high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. The business had revenue of $118.51 million for the quarter, compared to analyst estimates of $117.70 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts expect that First Commonwealth Financial will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.135 per share. This is a boost from First Commonwealth Financial's previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, May 9th. First Commonwealth Financial's dividend payout ratio is currently 40.30%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. US Bancorp DE lifted its position in shares of First Commonwealth Financial by 2,911.4% in the first quarter. US Bancorp DE now owns 2,379 shares of the bank's stock valued at $37,000 after buying an additional 2,300 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in First Commonwealth Financial in the 4th quarter valued at $42,000. Wilmington Savings Fund Society FSB acquired a new position in First Commonwealth Financial in the 3rd quarter valued at $46,000. Sterling Capital Management LLC raised its holdings in First Commonwealth Financial by 815.8% in the 4th 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 in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in First Commonwealth Financial by 56.8% in the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank's stock valued at $57,000 after acquiring an additional 1,227 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

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.