First Commonwealth Financial (NYSE:FCF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The firm presently has a $15.00 target price on the bank’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.86% from the company’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. “
FCF has been the topic of several other research reports. B. Riley set a $16.00 price objective on shares of First Commonwealth Financial and gave the company a “buy” rating in a research note on Wednesday, July 24th. Boenning Scattergood reiterated a “neutral” rating on shares of First Commonwealth Financial in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.00.
Shares of FCF stock traded down $0.09 during trading hours on Tuesday, reaching $13.41. 237,700 shares of the stock traded hands, compared to its average volume of 353,854. First Commonwealth Financial has a 1-year low of $11.33 and a 1-year high of $16.65. The business has a fifty day moving average price of $12.66 and a 200 day moving average price of $13.08. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.32 billion, a PE ratio of 12.19, a PEG ratio of 1.54 and a beta of 1.18.
First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $89.03 million for the quarter, compared to analyst estimates of $88.15 million. First Commonwealth Financial had a net margin of 26.30% and a return on equity of 10.49%. During the same quarter in the prior year, the business earned $0.33 EPS. Research analysts expect that First Commonwealth Financial will post 1.1 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc increased its stake in First Commonwealth Financial by 2,233.3% in the 1st quarter. NumerixS Investment Technologies Inc now owns 7,000 shares of the bank’s stock valued at $88,000 after buying an additional 6,700 shares during the period. Everence Capital Management Inc. acquired a new position in First Commonwealth Financial in the 1st quarter valued at approximately $160,000. NEXT Financial Group Inc acquired a new position in First Commonwealth Financial in the 2nd quarter valued at approximately $197,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in First Commonwealth Financial in the 2nd quarter valued at approximately $213,000. Finally, BNP Paribas Arbitrage SA increased its stake in First Commonwealth Financial by 880.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 22,841 shares of the bank’s stock valued at $288,000 after buying an additional 20,512 shares during the period. Hedge funds and other institutional investors own 67.06% of the company’s stock.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiaries, 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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