First Commonwealth Financial Corporation (NYSE:FCF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

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. “

FCF has been the subject of a number of other research reports. Canaccord Genuity downgraded shares of First Commonwealth Financial Corporation from a “buy” rating to a “speculative buy” rating and reduced their price objective for the company from C$4.50 to C$4.25 in a research report on Monday, May 8th. Royal Bank Of Canada started coverage on shares of First Commonwealth Financial Corporation in a research report on Monday, July 17th. They issued an “outperform” rating and a $14.00 price objective for the company. BidaskClub upgraded shares of First Commonwealth Financial Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $14.00 price objective on shares of First Commonwealth Financial Corporation in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.07.

First Commonwealth Financial Corporation (NYSE:FCF) opened at 12.62 on Monday. First Commonwealth Financial Corporation has a 12-month low of $9.62 and a 12-month high of $14.61. The firm has a 50-day moving average price of $12.81 and a 200-day moving average price of $13.03. The company has a market cap of $1.23 billion, a P/E ratio of 17.82 and a beta of 0.97.

First Commonwealth Financial Corporation (NYSE:FCF) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The firm had revenue of $76.72 million during the quarter, compared to the consensus estimate of $76.82 million. First Commonwealth Financial Corporation had a net margin of 21.61% and a return on equity of 9.45%. During the same quarter last year, the firm earned $0.14 earnings per share. On average, analysts forecast that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current fiscal year.

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In related news, Director Stephen Reid purchased 35,700 shares of First Commonwealth Financial Corporation stock in a transaction dated Thursday, June 1st. The stock was bought at an average cost of $3.35 per share, for a total transaction of $119,595.00. Over the last quarter, insiders have bought 81,944 shares of company stock valued at $249,268. Insiders own 1.72% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in First Commonwealth Financial Corporation by 6.5% in the first quarter. Bank of Montreal Can now owns 11,470 shares of the bank’s stock worth $153,000 after buying an additional 698 shares during the last quarter. AQR Capital Management LLC increased its stake in First Commonwealth Financial Corporation by 19.1% in the first quarter. AQR Capital Management LLC now owns 389,862 shares of the bank’s stock worth $5,170,000 after buying an additional 62,401 shares during the last quarter. Vanguard Group Inc. increased its stake in First Commonwealth Financial Corporation by 10.0% in the first quarter. Vanguard Group Inc. now owns 8,687,245 shares of the bank’s stock worth $115,193,000 after buying an additional 792,067 shares during the last quarter. Swiss National Bank increased its stake in First Commonwealth Financial Corporation by 9.5% in the first quarter. Swiss National Bank now owns 162,000 shares of the bank’s stock worth $2,148,000 after buying an additional 14,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in First Commonwealth Financial Corporation by 11.3% in the first quarter. BNP Paribas Arbitrage SA now owns 18,239 shares of the bank’s stock worth $242,000 after buying an additional 1,850 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

About First Commonwealth Financial Corporation

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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