BidaskClub cut shares of First Commonwealth Financial Corporation (NYSE:FCF) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded First Commonwealth Financial Corporation from a buy rating to a hold rating in a report on Monday, July 3rd. Canaccord Genuity raised First Commonwealth Financial Corporation from a speculative buy rating to a buy rating and set a C$4.25 price objective on the stock in a report on Thursday, June 1st. FBR & Co reaffirmed a hold rating on shares of First Commonwealth Financial Corporation in a report on Wednesday, April 26th. Finally, Royal Bank Of Canada assumed coverage on First Commonwealth Financial Corporation in a report on Monday, July 17th. They set an outperform rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. First Commonwealth Financial Corporation has a consensus rating of Hold and an average target price of $9.43.

First Commonwealth Financial Corporation (FCF) traded up 0.15% on Thursday, reaching $12.95. The company’s stock had a trading volume of 76,534 shares. First Commonwealth Financial Corporation has a 52 week low of $9.52 and a 52 week high of $14.61. The stock’s 50 day moving average is $12.85 and its 200-day moving average is $13.20. The firm has a market capitalization of $1.26 billion, a PE ratio of 18.29 and a beta of 0.97.

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

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

In other news, Director Bart E. Johnson acquired 3,267 shares of First Commonwealth Financial Corporation stock in a transaction on Monday, May 8th. The shares were purchased at an average price of $12.88 per share, with a total value of $42,078.96. Following the acquisition, the director now owns 52,220 shares in the company, valued at $672,593.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen Reid acquired 35,700 shares of First Commonwealth Financial Corporation stock in a transaction on Thursday, June 1st. The shares were purchased at an average cost of $3.35 per share, for a total transaction of $119,595.00. Insiders bought a total of 91,711 shares of company stock worth $313,247 over the last three months. 1.72% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FCF. Ameritas Investment Partners Inc. purchased a new position in First Commonwealth Financial Corporation during the first quarter valued at about $101,000. State of Alaska Department of Revenue increased its position in First Commonwealth Financial Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 9,820 shares of the bank’s stock valued at $130,000 after buying an additional 190 shares in the last quarter. Trexquant Investment LP purchased a new position in First Commonwealth Financial Corporation during the first quarter valued at about $138,000. Envestnet Asset Management Inc. increased its position in First Commonwealth Financial Corporation by 17.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 9,968 shares of the bank’s stock valued at $141,000 after buying an additional 1,477 shares in the last quarter. Finally, Bank of Montreal Can increased its position in First Commonwealth Financial Corporation by 6.5% in the first quarter. Bank of Montreal Can now owns 11,470 shares of the bank’s stock valued at $153,000 after buying an additional 698 shares in the last quarter. 60.11% of the stock is currently owned by hedge funds and other institutional investors.

First Commonwealth Financial Corporation Company Profile

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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