First Commonwealth Financial (NYSE:FCF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $18.00 price objective on the bank’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.29% from the company’s current price.

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. “

A number of other research analysts have also commented on FCF. Boenning Scattergood reiterated a “hold” rating on shares of First Commonwealth Financial in a report on Wednesday, July 25th. ValuEngine upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. DA Davidson started coverage on First Commonwealth Financial in a report on Thursday, August 23rd. They set a “neutral” rating and a $18.00 price target for the company. Sandler O’Neill started coverage on First Commonwealth Financial in a report on Thursday, August 30th. They set a “hold” rating and a $18.00 price target for the company. Finally, Raymond James reiterated a “hold” rating on shares of First Commonwealth Financial in a report on Friday, September 7th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.67.

Shares of FCF stock traded up $0.17 during trading hours on Tuesday, reaching $16.32. 488,300 shares of the company’s stock were exchanged, compared to its average volume of 502,844. First Commonwealth Financial has a fifty-two week low of $13.43 and a fifty-two week high of $17.91. The firm has a market cap of $1.65 billion, a PE ratio of 19.90 and a beta of 1.00. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.19.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, July 24th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. First Commonwealth Financial had a return on equity of 10.81% and a net margin of 22.17%. The company had revenue of $89.98 million during the quarter, compared to analyst estimates of $82.38 million. During the same period in the previous year, the company earned $0.21 earnings per share. equities analysts predict that First Commonwealth Financial will post 1.06 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of First Commonwealth Financial by 8.7% during the second quarter. BlackRock Inc. now owns 14,063,205 shares of the bank’s stock valued at $218,121,000 after purchasing an additional 1,121,525 shares during the period. Dimensional Fund Advisors LP increased its position in shares of First Commonwealth Financial by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 7,971,080 shares of the bank’s stock valued at $112,631,000 after purchasing an additional 242,840 shares during the period. Victory Capital Management Inc. increased its position in shares of First Commonwealth Financial by 4.3% during the second quarter. Victory Capital Management Inc. now owns 1,819,460 shares of the bank’s stock valued at $28,221,000 after purchasing an additional 75,120 shares during the period. Northern Trust Corp increased its position in shares of First Commonwealth Financial by 3.3% during the second quarter. Northern Trust Corp now owns 1,603,929 shares of the bank’s stock valued at $24,877,000 after purchasing an additional 50,811 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of First Commonwealth Financial by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,410,700 shares of the bank’s stock valued at $21,879,000 after purchasing an additional 22,901 shares during the period. Institutional investors and hedge funds own 68.69% of the company’s stock.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, 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.

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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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