First Commonwealth Financial Corporation (NYSE:FCF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

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 equities research analysts have also recently issued reports on FCF. BidaskClub upgraded shares of First Commonwealth Financial Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Royal Bank Of Canada initiated coverage on First Commonwealth Financial Corporation in a research note on Monday, July 17th. They issued an “outperform” rating and a $14.00 price objective on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $14.00 price objective on shares of First Commonwealth Financial Corporation in a research note on Thursday, August 10th. Canaccord Genuity cut their price objective on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a “buy” rating for the company in a research report on Wednesday, August 30th. Finally, Raymond James Financial, Inc. cut their price objective on First Commonwealth Financial Corporation from C$4.50 to C$3.75 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $9.96.

Shares of First Commonwealth Financial Corporation (NYSE:FCF) opened at 14.33 on Monday. The firm’s 50-day moving average price is $13.00 and its 200 day moving average price is $12.87. The stock has a market capitalization of $1.39 billion, a P/E ratio of 20.24 and a beta of 1.01. 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 announced its earnings results on Wednesday, July 26th. The bank reported $0.21 EPS 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 the consensus estimate 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 last year, the firm posted $0.14 EPS. Analysts predict that First Commonwealth Financial Corporation will post $0.80 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of First Commonwealth Financial Corporation by 6.5% during the 1st quarter. Bank of Montreal Can now owns 11,470 shares of the bank’s stock worth $153,000 after purchasing an additional 698 shares during the period. AQR Capital Management LLC lifted 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 during the period. Marshall Wace North America L.P. bought a new stake in shares of First Commonwealth Financial Corporation in the second quarter valued at about $2,731,000. Swiss National Bank lifted 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 period. Finally, Vanguard Group Inc. lifted 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 during the period. Institutional investors own 63.04% of the company’s stock.

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.

Analyst Recommendations for First Commonwealth Financial Corporation (NYSE:FCF)

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