Zacks Investment Research upgraded shares of First Commonwealth Financial Corp. (NYSE:FCF) from a hold rating to a buy rating in a report published on Wednesday. They currently have $11.00 target price on the 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. “
FCF has been the topic of several other reports. FBR & Co lifted their target price on First Commonwealth Financial Corp. from $9.50 to $10.00 and gave the stock a market perform rating in a report on Friday, July 29th. Keefe, Bruyette & Woods reduced their target price on First Commonwealth Financial Corp. from $10.00 to $9.50 and set a market perform rating on the stock in a report on Wednesday, September 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $9.67.
First Commonwealth Financial Corp. (NYSE:FCF) traded down 0.60% on Wednesday, reaching $9.91. The company had a trading volume of 56,072 shares. The stock has a market capitalization of $880.32 million, a price-to-earnings ratio of 18.73 and a beta of 1.10. The firm has a 50 day moving average price of $10.06 and a 200-day moving average price of $9.40. First Commonwealth Financial Corp. has a 12 month low of $7.85 and a 12 month high of $10.36.
First Commonwealth Financial Corp. (NYSE:FCF) last posted its earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.02. First Commonwealth Financial Corp. had a return on equity of 6.85% and a net margin of 17.38%. During the same period in the prior year, the business earned $0.15 EPS. Analysts forecast that First Commonwealth Financial Corp. will post $0.61 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of FCF. Aperio Group LLC raised its stake in shares of First Commonwealth Financial Corp. by 129.7% in the first quarter. Aperio Group LLC now owns 47,832 shares of the company’s stock worth $424,000 after buying an additional 27,006 shares during the period. Swiss National Bank raised its stake in shares of First Commonwealth Financial Corp. by 1.7% in the second quarter. Swiss National Bank now owns 157,500 shares of the company’s stock worth $1,449,000 after buying an additional 2,700 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in First Commonwealth Financial Corp. by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,491,423 shares of the company’s stock worth $22,074,000 after buying an additional 38,619 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in First Commonwealth Financial Corp. during the second quarter worth about $4,247,000. Finally, Virginia Retirement System bought a new stake in First Commonwealth Financial Corp. during the first quarter worth about $596,000. Institutional investors own 60.32% of the company’s stock.
About First Commonwealth Financial Corp.
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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