StockNews.com Downgrades First Commonwealth Financial (NYSE:FCF) to Sell

First Commonwealth Financial (NYSE:FCF) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also commented on FCF. Stephens reduced 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 report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of First Commonwealth Financial in a research note on Tuesday, April 9th.

First Commonwealth Financial Price Performance

NYSE:FCF traded down $0.18 on Thursday, reaching $13.56. The stock had a trading volume of 781,717 shares, compared to its average volume of 519,733. The company has a market capitalization of $1.39 billion, a P/E ratio of 8.42 and a beta of 0.87. First Commonwealth Financial has a 1-year low of $11.16 and a 1-year high of $15.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $13.28 and a 200-day moving average price of $13.60.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $116.60 million for the quarter, compared to analyst estimates of $119.80 million. First Commonwealth Financial had a net margin of 24.96% and a return on equity of 12.89%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. Research analysts forecast that First Commonwealth Financial will post 1.44 EPS for the current year.

Institutional Investors Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently modified their holdings of FCF. SG Americas Securities LLC bought a new stake in shares of First Commonwealth Financial during the third quarter worth approximately $845,000. Waldron Private Wealth LLC raised its stake in shares of First Commonwealth Financial by 10,699.1% during the third quarter. Waldron Private Wealth LLC now owns 1,204,858 shares of the bank’s stock worth $14,711,000 after buying an additional 1,193,701 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of First Commonwealth Financial by 6.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,365 shares of the bank’s stock worth $688,000 after buying an additional 3,208 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of First Commonwealth Financial during the third quarter worth approximately $49,000. Finally, Teacher Retirement System of Texas raised its stake in shares of First Commonwealth Financial by 8.8% during the third quarter. Teacher Retirement System of Texas now owns 35,469 shares of the bank’s stock worth $433,000 after buying an additional 2,878 shares during the last quarter. 72.58% of the stock is owned by institutional investors.

About First Commonwealth Financial

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.