First Commonwealth Financial Corporation (NYSE:FCF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $14.00 price objective on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.02% from the stock’s previous close.

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 research analysts have also weighed in on FCF. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $14.00 price objective on shares of First Commonwealth Financial Corporation in a research note on Thursday, August 10th. Canaccord Genuity upgraded shares of First Commonwealth Financial Corporation from a “speculative buy” rating to a “buy” rating and set a C$4.25 price objective on the stock in a research note on Thursday, June 1st. BidaskClub upgraded shares of First Commonwealth Financial Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Royal Bank Of Canada assumed coverage on shares of First Commonwealth Financial Corporation in a research note on Monday, July 17th. They set an “outperform” rating and a $14.00 price objective on the stock. One 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 company. First Commonwealth Financial Corporation has an average rating of “Buy” and an average target price of $9.82.

Shares of First Commonwealth Financial Corporation (NYSE FCF) opened at 12.61 on Tuesday. The firm’s 50-day moving average price is $12.81 and its 200 day moving average price is $13.03. The stock has a market cap of $1.23 billion, a P/E ratio of 17.81 and a beta of 0.97. First Commonwealth Financial Corporation has a 1-year low of $9.62 and a 1-year high of $14.61.

First Commonwealth Financial Corporation (NYSE:FCF) last released its quarterly earnings data on Wednesday, July 26th. The bank reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $76.72 million for the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.14 earnings per share. On average, equities analysts expect that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current fiscal year.

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Several large investors have recently made changes to their positions in the stock. Karp Capital Management Corp purchased a new stake in shares of First Commonwealth Financial Corporation during the first quarter valued at approximately $784,000. UBS Asset Management Americas Inc. raised its stake in shares of First Commonwealth Financial Corporation by 64.2% in the first quarter. UBS Asset Management Americas Inc. now owns 35,777 shares of the bank’s stock valued at $474,000 after buying an additional 13,982 shares during the last quarter. Swiss National Bank raised 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 during the last quarter. Comerica Bank raised its stake in shares of First Commonwealth Financial Corporation by 4.1% in the first quarter. Comerica Bank now owns 98,618 shares of the bank’s stock valued at $1,303,000 after buying an additional 3,882 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised 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 during the last quarter. Institutional investors own 63.10% of the company’s stock.

First Commonwealth Financial Corporation Company Profile

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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