Several brokerages have updated their recommendations and price targets on shares of First Commonwealth Financial (NYSE: FCF) in the last few weeks:

  • 11/8/2018 – First Commonwealth Financial was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $16.00 price target on the stock, down previously from $18.00.
  • 11/5/2018 – First Commonwealth Financial was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 11/1/2018 – First Commonwealth Financial was downgraded by analysts at Boenning Scattergood from a “buy” rating to a “neutral” rating.
  • 10/26/2018 – First Commonwealth Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 10/25/2018 – First Commonwealth Financial was upgraded by analysts at Boenning Scattergood from a “neutral” rating to an “outperform” rating. They now have a $14.00 price target on the stock.
  • 10/25/2018 – First Commonwealth Financial was upgraded by analysts at Sandler O’Neill from a “hold” rating to a “buy” rating.
  • 10/24/2018 – First Commonwealth Financial was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/24/2018 – First Commonwealth Financial had its “hold” rating reaffirmed by analysts at Boenning Scattergood. They now have a $14.00 price target on the stock.
  • 9/26/2018 – First Commonwealth Financial was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 9/25/2018 – First Commonwealth Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $18.00 price target 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 opened at $14.01 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. First Commonwealth Financial has a 52-week low of $12.01 and a 52-week high of $17.91. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). First Commonwealth Financial had a return on equity of 11.00% and a net margin of 22.65%. The business had revenue of $83.57 million for the quarter, compared to analysts’ expectations of $84.76 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. On average, research analysts predict that First Commonwealth Financial will post 1.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.57%. First Commonwealth Financial’s payout ratio is currently 43.90%.

In other news, Director Ray T. Charley bought 4,000 shares of First Commonwealth Financial stock in a transaction dated Monday, October 29th. The shares were acquired at an average cost of $12.90 per share, with a total value of $51,600.00. Following the completion of the transaction, the director now owns 280,041 shares in the company, valued at approximately $3,612,528.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.42% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Willingdon Wealth Management acquired a new position in shares of First Commonwealth Financial during the second quarter worth $104,000. Huntington National Bank acquired a new position in shares of First Commonwealth Financial during the third quarter worth $170,000. Bank of Montreal Can acquired a new position in shares of First Commonwealth Financial during the second quarter worth $188,000. Stevens Capital Management LP acquired a new position in shares of First Commonwealth Financial during the third quarter worth $191,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of First Commonwealth Financial during the second quarter worth $201,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (ATM) services, as well as Internet, mobile, and telephone banking services.

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