Zacks Investment Research upgraded shares of First Commonwealth Financial Corporation (NYSE:FCF) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $14.00 price objective 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 equities analysts have also recently weighed in on FCF. Keefe, Bruyette & Woods reissued a hold rating and issued a $14.00 target price on shares of First Commonwealth Financial Corporation in a research note on Thursday, August 10th. Canaccord Genuity raised shares of First Commonwealth Financial Corporation from a speculative buy rating to a buy rating and set a C$4.25 target price for the company in a research note on Thursday, June 1st. BidaskClub raised shares of First Commonwealth Financial Corporation from a sell rating to a hold rating in a research note on Saturday, June 10th. Royal Bank Of Canada began coverage on shares of First Commonwealth Financial Corporation in a research note on Monday, July 17th. They issued an outperform rating and a $14.00 target price for the company. Finally, FBR & Co reissued a hold rating on shares of First Commonwealth Financial Corporation in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $10.07.

Shares of First Commonwealth Financial Corporation (NYSE FCF) traded up 1.11% during trading on Wednesday, hitting $12.77. 267,323 shares of the stock were exchanged. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 18.04 and a beta of 0.97. The stock’s 50 day moving average is $12.81 and its 200-day moving average is $13.03. First Commonwealth Financial Corporation has a 12-month low of $9.62 and a 12-month high of $14.61.

First Commonwealth Financial Corporation (NYSE:FCF) last released its earnings results on Wednesday, July 26th. The bank reported $0.21 earnings per share 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 analysts’ expectations of $76.82 million. During the same period last year, the business earned $0.14 earnings per share. Equities research analysts anticipate that First Commonwealth Financial Corporation will post $0.80 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.51%. The ex-dividend date was Thursday, August 3rd. First Commonwealth Financial Corporation’s dividend payout ratio is 45.07%.

In other First Commonwealth Financial Corporation news, Director Stephen Reid purchased 35,700 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was acquired at an average price of $3.35 per share, with a total value of $119,595.00. Insiders have acquired a total of 88,444 shares of company stock valued at $271,168 in the last ninety days. Insiders own 1.72% of the company’s stock.

A number of large investors have recently made changes to their positions in FCF. Bank of Montreal Can increased its stake in shares of 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 valued at $153,000 after buying an additional 698 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 valued at $115,193,000 after buying an additional 792,067 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of 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 valued at $5,170,000 after buying an additional 62,401 shares in the last quarter. Swiss National Bank increased its stake in shares of First Commonwealth Financial Corporation by 9.5% in the first quarter. Swiss National Bank now owns 162,000 shares of the bank’s stock valued at $2,148,000 after buying an additional 14,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of 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 valued at $242,000 after buying an additional 1,850 shares in the last quarter. 60.79% 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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