First Commonwealth Financial (NYSE:FCF) Stock Rating Upgraded by Stephens

First Commonwealth Financial (NYSE:FCF – Get Rating) was upgraded by Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has a $14.00 price objective on the bank’s stock. Stephens’ price target would suggest a potential upside of 9.89% from the company’s current price.

Several other research firms have also recently issued reports on FCF. Raymond James cut shares of First Commonwealth Financial from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 21st. StockNews.com initiated coverage on shares of First Commonwealth Financial in a research note on Thursday. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, First Commonwealth Financial presently has a consensus rating of “Hold” and a consensus price target of $15.60.

First Commonwealth Financial Price Performance

Shares of FCF opened at $12.74 on Friday. First Commonwealth Financial has a fifty-two week low of $11.32 and a fifty-two week high of $16.53. The company has a 50 day moving average price of $12.23 and a 200-day moving average price of $13.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $1.31 billion, a PE ratio of 9.30 and a beta of 0.95.

First Commonwealth Financial (NYSE:FCF – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The business had revenue of $117.60 million for the quarter, compared to analyst estimates of $123.86 million. First Commonwealth Financial had a net margin of 27.75% and a return on equity of 13.53%. First Commonwealth Financial’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 EPS. Equities analysts predict that First Commonwealth Financial will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at First Commonwealth Financial

In related news, Director Ray T. Charley acquired 3,900 shares of the business’s stock in a transaction dated Friday, March 17th. The shares were acquired at an average cost of $12.85 per share, for a total transaction of $50,115.00. Following the acquisition, the director now directly owns 325,074 shares in the company, valued at approximately $4,177,200.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Ray T. Charley bought 4,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $13.26 per share, for a total transaction of $53,040.00. Following the completion of the purchase, the director now owns 313,174 shares of the company’s stock, valued at approximately $4,152,687.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ray T. Charley bought 3,900 shares of the business’s stock in a transaction on Friday, March 17th. The stock was bought at an average price of $12.85 per share, for a total transaction of $50,115.00. Following the completion of the purchase, the director now directly owns 325,074 shares of the company’s stock, valued at approximately $4,177,200.90. The disclosure for this purchase can be found here. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in First Commonwealth Financial by 10.4% in the 1st quarter. BlackRock Inc. now owns 15,208,918 shares of the bank’s stock worth $189,047,000 after purchasing an additional 1,433,284 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in First Commonwealth Financial by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,469,096 shares of the bank’s stock worth $90,373,000 after acquiring an additional 212,051 shares in the last quarter. State Street Corp grew its holdings in shares of First Commonwealth Financial by 13.7% during the first quarter. State Street Corp now owns 4,622,773 shares of the bank’s stock worth $57,461,000 after purchasing an additional 555,443 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in First Commonwealth Financial by 8.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,447,581 shares of the bank’s stock valued at $34,193,000 after acquiring an additional 199,077 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in First Commonwealth Financial by 14.7% in the first quarter. Geode Capital Management LLC now owns 1,954,448 shares of the bank’s stock valued at $24,294,000 after buying an additional 249,926 shares during the period. 69.47% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Company Profile

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First Commonwealth Financial Corp. is a holding company, which engages in the provision of consumer and commercial banking services. The firm is also involved in providing trust and wealth management services and offers insurance products. The company was founded on November 15, 1982 and is headquartered in Indiana, PA.