Zacks Investment Research upgraded shares of First Commonwealth Financial Corporation (NYSE:FCF) from a hold rating to a buy rating in a report released on Tuesday morning. They currently have $14.00 target price on the bank’s stock.

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 analysts also recently issued reports on the stock. Canaccord Genuity lowered their price objective on shares of First Commonwealth Financial Corporation from C$4.50 to C$4.25 and set a speculative buy rating for the company in a research report on Monday, May 15th. Royal Bank Of Canada initiated 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 downgraded shares of First Commonwealth Financial Corporation from a hold rating to a sell rating in a research report on Thursday, June 22nd. Finally, Keefe, Bruyette & Woods reaffirmed 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 issued a buy rating to the stock. First Commonwealth Financial Corporation has an average rating of Buy and an average target price of $9.82.

First Commonwealth Financial Corporation (NYSE:FCF) opened at 12.69 on Tuesday. The company has a 50 day moving average of $12.78 and a 200-day moving average of $13.00. First Commonwealth Financial Corporation has a one year low of $9.62 and a one year high of $14.61. The firm has a market cap of $1.23 billion, a PE ratio of 17.92 and a beta of 0.99.

First Commonwealth Financial Corporation (NYSE:FCF) last issued its quarterly earnings data on Wednesday, July 26th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $76.72 million during the quarter, compared to the consensus estimate of $76.82 million. During the same quarter last year, the company earned $0.14 earnings per share. On average, equities research analysts predict that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Thursday, August 3rd. First Commonwealth Financial Corporation’s payout ratio is currently 45.07%.

Several hedge funds have recently added to or reduced their stakes in the company. 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. 63.10% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for First Commonwealth Financial Corporation (NYSE:FCF)

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