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 currently has a $14.00 price target on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.00% from the stock’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. “

Several other research analysts have also recently weighed in on the company. Raymond James Financial, Inc. lowered their price objective on First Commonwealth Financial Corporation from C$4.50 to C$3.75 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Canaccord Genuity lowered their price objective on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $14.00 price objective on shares of First Commonwealth Financial Corporation in a research report on Thursday, August 10th. BidaskClub cut First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada began coverage on First Commonwealth Financial Corporation in a research report on Monday, July 17th. They set an “outperform” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. First Commonwealth Financial Corporation has an average rating of “Buy” and an average price target of $9.82.

First Commonwealth Financial Corporation (NYSE FCF) opened at 12.50 on Tuesday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 17.66 and a beta of 0.99. The company’s 50-day moving average is $12.75 and its 200-day moving average is $12.96. 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 posted 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 analysts’ expectations of $76.82 million. First Commonwealth Financial Corporation had a return on equity of 9.45% and a net margin of 21.61%. During the same quarter last year, the business earned $0.14 EPS. On average, equities research analysts anticipate that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/07/first-commonwealth-financial-corporation-fcf-rating-increased-to-buy-at-zacks-investment-research.html.

Several hedge funds and other institutional investors have recently modified their holdings of FCF. BlackRock Inc. increased its position in shares of First Commonwealth Financial Corporation by 45,299.4% in the first quarter. BlackRock Inc. now owns 10,979,393 shares of the bank’s stock worth $145,588,000 after purchasing an additional 10,955,209 shares during the period. Vanguard Group Inc. increased its position 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 worth $115,193,000 after purchasing an additional 792,067 shares during the period. Bank of New York Mellon Corp increased its position in shares of First Commonwealth Financial Corporation by 33.3% in the first quarter. Bank of New York Mellon Corp now owns 1,813,596 shares of the bank’s stock worth $24,049,000 after purchasing an additional 453,031 shares during the period. State Street Corp increased its position in shares of First Commonwealth Financial Corporation by 14.5% in the first quarter. State Street Corp now owns 3,001,842 shares of the bank’s stock worth $39,802,000 after purchasing an additional 379,322 shares during the period. Finally, American Century Companies Inc. increased its position in shares of First Commonwealth Financial Corporation by 148.0% in the first quarter. American Century Companies Inc. now owns 464,273 shares of the bank’s stock worth $6,156,000 after purchasing an additional 277,066 shares during the period. 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)

Receive News & Stock Ratings for First Commonwealth Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial Corporation and related stocks with our FREE daily email newsletter.