First Commonwealth Financial Corporation (NYSE:FCF) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of First Commonwealth Financial Corporation (NYSE:FCF) from a sell rating to a hold rating in a research note published on Thursday, June 29th.

Several other analysts have also commented on the stock. Zacks Investment Research raised shares of First Commonwealth Financial Corporation from a hold rating to a buy rating and set a $14.00 target price for the company in a research note on Tuesday, June 27th. Canaccord Genuity raised shares of First Commonwealth Financial Corporation from a speculative buy rating to a buy rating and set a C$4.25 target price for the company in a research note on Thursday, June 1st. FBR & Co restated a hold rating on shares of First Commonwealth Financial Corporation in a report on Wednesday, April 26th. Finally, Raymond James Financial, Inc. restated an outperform rating and set a C$4.50 price target on shares of First Commonwealth Financial Corporation in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $9.43.

Shares of First Commonwealth Financial Corporation (NYSE FCF) traded down 0.15% during midday trading on Thursday, reaching $12.93. 250,581 shares of the company were exchanged. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 18.26 and a beta of 0.97. The company’s 50-day moving average price is $12.85 and its 200 day moving average price is $13.20. First Commonwealth Financial Corporation has a 52-week low of $9.52 and a 52-week high of $14.61.

First Commonwealth Financial Corporation (NYSE:FCF) last released its earnings results on Wednesday, July 26th. The bank reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. First Commonwealth Financial Corporation had a net margin of 21.61% and a return on equity of 9.45%. The business had revenue of $76.72 million during the quarter, compared to analyst estimates of $76.82 million. During the same period in the prior year, the business earned $0.14 earnings per share. On average, equities analysts predict that First Commonwealth Financial Corporation will post $0.78 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.47%. First Commonwealth Financial Corporation’s dividend payout ratio is currently 45.07%.

In related news, Director Stephen Reid acquired 35,700 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were purchased at an average price of $3.35 per share, for a total transaction of $119,595.00. Also, Director Bart E. Johnson acquired 3,267 shares of the company’s stock in a transaction on Monday, May 8th. The stock was bought at an average price of $12.88 per share, for a total transaction of $42,078.96. Following the purchase, the director now owns 52,220 shares in the company, valued at approximately $672,593.60. The disclosure for this purchase can be found here. Insiders have bought 91,711 shares of company stock worth $313,247 in the last 90 days. 1.72% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in FCF. BlackRock Inc. raised its position in shares of First Commonwealth Financial Corporation by 45,299.4% in the first quarter. BlackRock Inc. now owns 10,979,393 shares of the bank’s stock valued at $145,588,000 after buying an additional 10,955,209 shares during the period. Vanguard Group Inc. raised its position in shares of First Commonwealth Financial Corporation by 10.0% in the first quarter. Vanguard Group Inc. now owns 8,687,245 shares of the bank’s stock valued at $115,193,000 after buying an additional 792,067 shares during the period. State Street Corp raised its position in shares of First Commonwealth Financial Corporation by 14.5% in the first quarter. State Street Corp now owns 3,001,842 shares of the bank’s stock valued at $39,802,000 after buying an additional 379,322 shares during the period. Bank of New York Mellon Corp raised its position in shares of First Commonwealth Financial Corporation by 33.3% in the first quarter. Bank of New York Mellon Corp now owns 1,813,596 shares of the bank’s stock valued at $24,049,000 after buying an additional 453,031 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of First Commonwealth Financial Corporation by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 1,186,120 shares of the bank’s stock valued at $16,819,000 after buying an additional 16,307 shares during the period. Institutional investors own 60.05% of the company’s stock.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

Analyst Recommendations for First Commonwealth Financial Corporation (NYSE:FCF)

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