First Commonwealth Financial (NYSE:FCF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “First Commonwealth Financial Corporation is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended. The Corporation operates two chartered banks, First Commonwealth Bank and Southwest Bank. Personal financial planning and other financial services and insurance products are also provided through First Commonwealth Trust Company and First Commonwealth Insurance Agency. The Corporation also operates through Commonwealth Systems Corporation, a data processing subsidiary. “

Other equities research analysts also recently issued reports about the stock. B. Riley downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $9.00 in a research note on Wednesday, March 25th. ValuEngine downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Friday, April 3rd. DA Davidson reduced their price target on shares of First Commonwealth Financial from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Royal Bank of Canada downgraded shares of First Commonwealth Financial from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $12.00 to $9.00 in a research note on Wednesday, May 13th. Finally, Piper Sandler downgraded shares of First Commonwealth Financial from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $10.00 in a research note on Friday, May 1st. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $10.40.

FCF stock traded up $0.46 during mid-day trading on Tuesday, hitting $8.01. The stock had a trading volume of 598,600 shares, compared to its average volume of 535,046. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. First Commonwealth Financial has a 52 week low of $6.77 and a 52 week high of $14.93. The firm has a market capitalization of $740.92 million, a P/E ratio of 9.21 and a beta of 1.08. The firm has a fifty day simple moving average of $8.08 and a 200 day simple moving average of $10.93.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, April 28th. The bank reported $0.05 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.14). First Commonwealth Financial had a net margin of 20.80% and a return on equity of 8.46%. The firm had revenue of $87.00 million during the quarter, compared to the consensus estimate of $89.07 million. During the same period in the prior year, the business earned $0.25 earnings per share. As a group, equities analysts expect that First Commonwealth Financial will post 0.61 earnings per share for the current fiscal year.

In other First Commonwealth Financial news, EVP Matthew C. Tomb bought 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $6.93 per share, for a total transaction of $27,720.00. Following the transaction, the executive vice president now directly owns 63,647 shares in the company, valued at $441,073.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.53% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of FCF. Versant Capital Management Inc boosted its position in First Commonwealth Financial by 79.0% during the 1st quarter. Versant Capital Management Inc now owns 3,537 shares of the bank’s stock worth $32,000 after buying an additional 1,561 shares during the period. Tower Research Capital LLC TRC raised its holdings in First Commonwealth Financial by 7,016.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,558 shares of the bank’s stock worth $52,000 after purchasing an additional 3,508 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in First Commonwealth Financial by 97.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,066 shares of the bank’s stock worth $110,000 after purchasing an additional 5,961 shares during the last quarter. S&T Bank PA bought a new position in First Commonwealth Financial during the 1st quarter worth approximately $121,000. Finally, Advisor Group Holdings Inc. bought a new position in First Commonwealth Financial during the 1st quarter worth approximately $129,000. Institutional investors and hedge funds own 68.03% of the company’s stock.

About First Commonwealth Financial

First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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.

Read More: What’s a Black Swan?

Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for First Commonwealth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial and related companies with MarketBeat.com's FREE daily email newsletter.