First Commonwealth Financial (NYSE:FCF) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of First Commonwealth Financial (NYSE:FCFFree Report) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

Several other analysts have also recently weighed in on FCF. Royal Bank of Canada dropped their price objective on shares of First Commonwealth Financial from $15.00 to $14.00 and set an outperform rating for the company in a research note on Thursday, October 26th. Stephens dropped their price objective on shares of First Commonwealth Financial from $16.50 to $15.50 and set an overweight rating for the company in a research note on Tuesday.

Check Out Our Latest Research Report on FCF

First Commonwealth Financial Stock Performance

NYSE FCF opened at $13.19 on Wednesday. The firm has a 50-day moving average of $14.66 and a 200-day moving average of $13.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $1.35 billion, a PE ratio of 8.56 and a beta of 0.88. First Commonwealth Financial has a 52-week low of $11.16 and a 52-week high of $16.53.

First Commonwealth Financial (NYSE:FCFGet Free Report) last posted its earnings results on Tuesday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. First Commonwealth Financial had a net margin of 25.07% and a return on equity of 13.78%. The company had revenue of $168.55 million during the quarter, compared to analysts’ expectations of $123.17 million. During the same quarter last year, the company posted $0.39 EPS. On average, sell-side analysts anticipate that First Commonwealth Financial will post 1.46 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Thursday, February 8th. First Commonwealth Financial’s payout ratio is presently 32.47%.

Hedge Funds Weigh In On First Commonwealth Financial

Several hedge funds and other institutional investors have recently made changes to their positions in FCF. Dimensional Fund Advisors LP grew its holdings in shares of First Commonwealth Financial by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,569,502 shares of the bank’s stock valued at $101,435,000 after purchasing an additional 28,553 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of First Commonwealth Financial by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,856 shares of the bank’s stock valued at $43,214,000 after purchasing an additional 23,924 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of First Commonwealth Financial by 8.0% during the 4th quarter. New York State Common Retirement Fund now owns 43,797 shares of the bank’s stock valued at $676,000 after purchasing an additional 3,261 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of First Commonwealth Financial by 43.2% during the 4th quarter. Federated Hermes Inc. now owns 286,934 shares of the bank’s stock valued at $4,430,000 after purchasing an additional 86,587 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Commonwealth Financial by 63.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,394 shares of the bank’s stock valued at $438,000 after purchasing an additional 11,040 shares during the last quarter. 66.73% of the stock is currently owned by institutional investors and hedge funds.

About First Commonwealth Financial

(Get Free Report)

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.

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