First Commonwealth Financial (NYSE:FCF) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of First Commonwealth Financial (NYSE:FCF – Get Rating) in a note issued to investors on Thursday. The brokerage set a “sell” rating on the bank’s stock.

Separately, Raymond James cut First Commonwealth Financial from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.90.

First Commonwealth Financial Trading Down 1.0 %

NYSE:FCF opened at $12.99 on Thursday. The business’s 50-day simple moving average is $14.90 and its 200 day simple moving average is $14.26. First Commonwealth Financial has a one year low of $12.21 and a one year high of $16.53. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 9.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.92.

First Commonwealth Financial (NYSE:FCF – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). The firm had revenue of $120.59 million for the quarter, compared to analyst estimates of $113.63 million. First Commonwealth Financial had a net margin of 29.90% and a return on equity of 12.36%. During the same quarter in the previous year, the company earned $0.37 EPS. As a group, sell-side analysts predict that First Commonwealth Financial will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Commonwealth Financial news, CEO T Michael Price acquired 13,212 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The stock was acquired at an average cost of $13.87 per share, with a total value of $183,250.44. Following the acquisition, the chief executive officer now directly owns 321,756 shares of the company’s stock, valued at approximately $4,462,755.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other First Commonwealth Financial news, CEO T Michael Price acquired 13,212 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The stock was acquired at an average cost of $13.87 per share, with a total value of $183,250.44. Following the acquisition, the chief executive officer now directly owns 321,756 shares of the company’s stock, valued at approximately $4,462,755.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ray T. Charley acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $13.26 per share, with a total value of $53,040.00. Following the completion of the acquisition, the director now directly owns 313,174 shares in the company, valued at $4,152,687.24. The disclosure for this purchase can be found here. Corporate insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in First Commonwealth Financial by 1.6% during the 2nd quarter. FMR LLC now owns 43,326 shares of the bank’s stock valued at $581,000 after purchasing an additional 673 shares in the last quarter. Confluence Wealth Services Inc. boosted its stake in First Commonwealth Financial by 6.9% during the 2nd quarter. Confluence Wealth Services Inc. now owns 10,795 shares of the bank’s stock valued at $161,000 after purchasing an additional 698 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its stake in First Commonwealth Financial by 14.1% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,758 shares of the bank’s stock valued at $80,000 after purchasing an additional 710 shares in the last quarter. Arizona State Retirement System boosted its stake in First Commonwealth Financial by 2.8% during the 4th quarter. Arizona State Retirement System now owns 26,349 shares of the bank’s stock valued at $368,000 after purchasing an additional 719 shares in the last quarter. Finally, First National Trust Co boosted its stake in First Commonwealth Financial by 4.4% during the 4th quarter. First National Trust Co now owns 17,620 shares of the bank’s stock valued at $246,000 after purchasing an additional 750 shares in the last quarter. 69.47% of the stock is owned by institutional investors.

About First Commonwealth Financial

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First Commonwealth Financial Corp. is a holding company, which engages in the provision of consumer and commercial banking services. The firm is also involved in providing trust and wealth management services and offers insurance products. The company was founded on November 15, 1982 and is headquartered in Indiana, PA.