First Commonwealth Financial (NYSE:FCF) Stock Rating Upgraded by StockNews.com

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

Several other research analysts have also recently weighed in on FCF. Stephens dropped their price target on shares of First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of First Commonwealth Financial in a research note on Tuesday, April 9th.

First Commonwealth Financial Stock Performance

NYSE:FCF traded up $0.09 during trading hours on Thursday, reaching $13.94. The company had a trading volume of 299,760 shares, compared to its average volume of 500,450. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.14. First Commonwealth Financial has a 52 week low of $11.16 and a 52 week high of $15.90. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 8.66 and a beta of 0.86. The firm’s 50 day moving average price is $13.36 and its 200-day moving average price is $13.69.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. First Commonwealth Financial had a net margin of 24.96% and a return on equity of 12.89%. The business had revenue of $116.60 million during the quarter, compared to the consensus estimate of $119.80 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts forecast that First Commonwealth Financial will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its stake in shares of First Commonwealth Financial by 72.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 92,972 shares of the bank’s stock valued at $1,294,000 after buying an additional 38,990 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of First Commonwealth Financial during the 1st quarter valued at $152,000. ProShare Advisors LLC lifted its stake in shares of First Commonwealth Financial by 6.3% during the 1st quarter. ProShare Advisors LLC now owns 20,434 shares of the bank’s stock valued at $284,000 after buying an additional 1,217 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of First Commonwealth Financial by 4.3% during the 1st quarter. Russell Investments Group Ltd. now owns 296,524 shares of the bank’s stock valued at $4,128,000 after buying an additional 12,313 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of First Commonwealth Financial by 4.0% during the 1st quarter. Inspire Investing LLC now owns 25,775 shares of the bank’s stock valued at $359,000 after buying an additional 995 shares in the last quarter. 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.