First Commonwealth Financial (NYSE:FCF) Stock Rating Lowered by DA Davidson

First Commonwealth Financial (NYSE:FCF) was downgraded by analysts at DA Davidson from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on FCF. Zacks Research cut shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Commonwealth Financial has a consensus rating of “Hold” and an average target price of $18.90.

First Commonwealth Financial Stock Performance

Shares of FCF stock opened at $16.13 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. First Commonwealth Financial has a 52 week low of $13.54 and a 52 week high of $19.96. The stock has a market capitalization of $1.69 billion, a PE ratio of 12.40 and a beta of 0.82. The firm has a 50 day moving average of $17.12 and a two-hundred day moving average of $16.28.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, July 29th. The bank reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $131.33 million during the quarter, compared to analysts’ expectations of $125.88 million. First Commonwealth Financial had a net margin of 18.94% and a return on equity of 9.71%. During the same quarter last year, the company posted $0.37 EPS. On average, research analysts predict that First Commonwealth Financial will post 1.45 EPS for the current fiscal year.

Insider Buying and Selling at First Commonwealth Financial

In related news, EVP Michael P. Mccuen purchased 2,826 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average cost of $17.67 per share, for a total transaction of $49,935.42. Following the purchase, the executive vice president directly owned 59,021 shares of the company’s stock, valued at $1,042,901.07. The trade was a 5.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James R. Reske sold 2,190 shares of First Commonwealth Financial stock in a transaction on Monday, October 6th. The stock was sold at an average price of $16.99, for a total transaction of $37,208.10. Following the sale, the chief financial officer owned 85,866 shares in the company, valued at $1,458,863.34. This represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,570 shares of company stock worth $112,544 over the last quarter. 2.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Commonwealth Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in First Commonwealth Financial in the first quarter valued at $484,000. Wealth Enhancement Advisory Services LLC increased its stake in First Commonwealth Financial by 10.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,680 shares of the bank’s stock valued at $337,000 after purchasing an additional 2,088 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in First Commonwealth Financial by 12.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,687 shares of the bank’s stock valued at $1,281,000 after purchasing an additional 8,828 shares during the period. Principal Financial Group Inc. increased its stake in First Commonwealth Financial by 3.4% in the first quarter. Principal Financial Group Inc. now owns 576,222 shares of the bank’s stock valued at $8,954,000 after purchasing an additional 18,825 shares during the period. Finally, D.A. Davidson & CO. increased its stake in First Commonwealth Financial by 26.0% in the first quarter. D.A. Davidson & CO. now owns 23,815 shares of the bank’s stock valued at $370,000 after purchasing an additional 4,911 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.

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.