First Commonwealth Financial (NYSE:FCF) Cut to “Sell” at StockNews.com

StockNews.com cut shares of First Commonwealth Financial (NYSE:FCF) from a hold rating to a sell rating in a research note published on Thursday morning.

A number of other research firms have also weighed in on FCF. Piper Sandler cut their price objective on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of First Commonwealth Financial in a report on Thursday, January 30th. Stephens reaffirmed an “overweight” rating and set a $21.50 price target on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price objective on First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, DA Davidson reiterated a “buy” rating and issued a $21.00 target price on shares of First Commonwealth Financial in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.58.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $17.12 on Thursday. The company has a market cap of $1.74 billion, a P/E ratio of 12.31 and a beta of 0.87. The company has a 50-day moving average price of $17.16 and a 200 day moving average price of $17.17. First Commonwealth Financial has a 52 week low of $12.41 and a 52 week high of $19.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.19.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. Research analysts predict that First Commonwealth Financial will post 1.41 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, February 7th. First Commonwealth Financial’s payout ratio is 37.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC increased 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 worth $268,000 after purchasing an additional 633 shares during the last quarter. Natixis Advisors LLC raised its position in shares of First Commonwealth Financial by 5.9% during the 3rd quarter. Natixis Advisors LLC now owns 15,882 shares of the bank’s stock valued at $272,000 after acquiring an additional 883 shares in the last quarter. Aigen Investment Management LP raised its holdings in shares of First Commonwealth Financial by 6.0% during the fourth quarter. Aigen Investment Management LP now owns 17,398 shares of the bank’s stock worth $294,000 after purchasing an additional 983 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in First Commonwealth Financial by 6.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,383 shares of the bank’s stock worth $332,000 after acquiring an additional 1,112 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in First Commonwealth Financial by 56.8% during the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank’s stock valued at $57,000 after purchasing an additional 1,227 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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.