First Commonwealth Financial (NYSE:FCF) Price Target Raised to $24.00 at Keefe, Bruyette & Woods

First Commonwealth Financial (NYSE:FCF) had its target price raised by investment analysts at Keefe, Bruyette & Woods from $21.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 11.40% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Piper Sandler restated an “overweight” rating and issued a $25.00 price target (up from $21.00) on shares of First Commonwealth Financial in a research report on Thursday. Royal Bank Of Canada upped their target price on First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, First Commonwealth Financial presently has a consensus rating of “Moderate Buy” and an average price target of $23.25.

First Commonwealth Financial Trading Down 1.1%

Shares of First Commonwealth Financial stock opened at $21.54 on Friday. The firm’s 50 day moving average is $20.01 and its 200 day moving average is $18.70. The firm has a market capitalization of $2.19 billion, a PE ratio of 13.22 and a beta of 0.74. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. First Commonwealth Financial has a 1 year low of $15.00 and a 1 year high of $22.34.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $139.42 million during the quarter, compared to analysts’ expectations of $137.48 million. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%. Equities research analysts forecast that First Commonwealth Financial will post 1.71 earnings per share for the current fiscal year.

Insider Transactions at First Commonwealth Financial

In other news, CFO James R. Reske sold 2,072 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.50, for a total transaction of $42,476.00. Following the sale, the chief financial officer directly owned 77,204 shares in the company, valued at $1,582,682. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Mccuen sold 5,250 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total transaction of $97,545.00. Following the completion of the transaction, the executive vice president owned 56,861 shares in the company, valued at approximately $1,056,477.38. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,466 shares of company stock valued at $217,617 in the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On First Commonwealth Financial

Several large investors have recently modified their holdings of the business. Bill Few Associates Inc. grew its position in shares of First Commonwealth Financial by 3.6% in the second quarter. Bill Few Associates Inc. now owns 26,167 shares of the bank’s stock valued at $532,000 after purchasing an additional 905 shares during the period. Bank of America Corp DE raised its holdings in shares of First Commonwealth Financial by 95.4% during the 1st quarter. Bank of America Corp DE now owns 559,989 shares of the bank’s stock worth $9,845,000 after acquiring an additional 273,351 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of First Commonwealth Financial during the 1st quarter valued at about $253,000. Amundi increased its holdings in shares of First Commonwealth Financial by 284.8% during the 1st quarter. Amundi now owns 45,837 shares of the bank’s stock worth $806,000 after buying an additional 33,925 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of First Commonwealth Financial by 2.4% in the 1st quarter. Royal Bank of Canada now owns 156,029 shares of the bank’s stock valued at $2,744,000 after purchasing an additional 3,590 shares during the last quarter. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.