StockNews.com Upgrades First Commonwealth Financial (NYSE:FCF) to Hold

First Commonwealth Financial (NYSE:FCF) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other equities analysts have also commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of First Commonwealth Financial in a report on Thursday, January 30th. DA Davidson restated a “buy” rating and set a $21.00 target price on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Finally, Stephens reiterated an “overweight” rating and issued a $21.50 price target on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.58.

First Commonwealth Financial Stock Performance

NYSE:FCF opened at $14.52 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $15.59 and a 200 day simple moving average of $16.75. First Commonwealth Financial has a 1-year low of $12.56 and a 1-year high of $19.96. The stock has a market cap of $1.48 billion, a P/E ratio of 10.45 and a beta of 0.72.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. Research analysts anticipate that First Commonwealth Financial will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On First Commonwealth Financial

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of First Commonwealth Financial by 22.0% in the third quarter. FMR LLC now owns 24,190 shares of the bank’s stock worth $415,000 after purchasing an additional 4,360 shares during the last quarter. Jane Street Group LLC lifted its holdings in First Commonwealth Financial by 39.5% during the 3rd quarter. Jane Street Group LLC now owns 150,590 shares of the bank’s stock worth $2,583,000 after buying an additional 42,632 shares during the period. Barclays PLC lifted its holdings in First Commonwealth Financial by 121.8% during the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after buying an additional 116,295 shares during the period. Sanctuary Advisors LLC grew its position in shares of First Commonwealth Financial by 4.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,623 shares of the bank’s stock valued at $268,000 after buying an additional 633 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of First Commonwealth Financial in the third quarter valued at about $46,000. 72.58% of the stock is owned by 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.