Zacks Investment Research lowered shares of First Commonwealth Financial Corporation (NYSE:FCF) from a buy rating to a hold rating in a research note released on Monday morning.

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. “

Several other research firms have also recently weighed in on FCF. BidaskClub cut shares of First Commonwealth Financial Corporation from a hold rating to a sell rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $14.00 target price on shares of First Commonwealth Financial Corporation in a research report on Thursday, August 10th. Canaccord Genuity reduced their target price on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a buy rating on the stock in a research note on Wednesday, August 30th. Royal Bank Of Canada restated a buy rating and set a $14.00 price target on shares of First Commonwealth Financial Corporation in a research report on Friday, September 8th. Finally, Raymond James Financial, Inc. lowered their price target on First Commonwealth Financial Corporation from C$4.50 to C$3.75 and set an outperform rating on the stock in a research report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. First Commonwealth Financial Corporation presently has a consensus rating of Hold and a consensus target price of $9.96.

Shares of First Commonwealth Financial Corporation (FCF) traded down 0.63% on Monday, hitting $14.20. The stock had a trading volume of 13,220 shares. The company has a market capitalization of $1.38 billion, a PE ratio of 20.06 and a beta of 1.01. First Commonwealth Financial Corporation has a 1-year low of $9.62 and a 1-year high of $14.61. The firm has a 50-day moving average of $12.96 and a 200 day moving average of $12.86.

First Commonwealth Financial Corporation (NYSE:FCF) last announced its 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. First Commonwealth Financial Corporation had a net margin of 21.61% and a return on equity of 9.45%. The business had revenue of $76.72 million during the quarter, compared to analyst estimates of $76.82 million. During the same period in the previous year, the business posted $0.14 earnings per share. On average, equities analysts anticipate that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of FCF. Dynamic Technology Lab Private Ltd lifted its stake in First Commonwealth Financial Corporation by 62.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 42,848 shares of the bank’s stock worth $544,000 after purchasing an additional 16,439 shares during the last quarter. Koch Industries Inc. purchased a new stake in First Commonwealth Financial Corporation during the second quarter valued at about $201,000. Piedmont Investment Advisors LLC purchased a new stake in First Commonwealth Financial Corporation during the second quarter valued at about $241,000. Ameritas Investment Partners Inc. boosted its position in First Commonwealth Financial Corporation by 11.1% during the second quarter. Ameritas Investment Partners Inc. now owns 8,496 shares of the bank’s stock valued at $108,000 after buying an additional 846 shares during the period. Finally, Susquehanna International Group LLP purchased a new stake in First Commonwealth Financial Corporation during the second quarter valued at about $245,000. Institutional investors own 63.04% of the company’s stock.

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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