Analysts Set First Commonwealth Financial Corporation (FCF) Price Target at $8.96

First Commonwealth Financial Corporation (NYSE:FCF) has been given an average rating of “Hold” by the eight brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $7.95.

A number of analysts recently commented on the company. Zacks Investment Research lowered First Commonwealth Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub downgraded First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $14.00 price objective on shares of First Commonwealth Financial Corporation in a report on Thursday, August 10th. Canaccord Genuity upgraded First Commonwealth Financial Corporation from a “speculative buy” rating to a “buy” rating and set a C$4.25 price objective for the company in a report on Thursday, June 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $14.00 price objective on shares of First Commonwealth Financial Corporation in a report on Friday, September 8th.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in First Commonwealth Financial Corporation by 6.5% in the first quarter. Bank of Montreal Can now owns 11,470 shares of the bank’s stock worth $153,000 after purchasing an additional 698 shares in the last quarter. AQR Capital Management LLC raised its holdings in 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 worth $5,170,000 after purchasing an additional 62,401 shares in the last quarter. Vanguard Group Inc. raised its holdings in 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 in the last quarter. BNP Paribas Arbitrage SA raised its holdings in 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 worth $242,000 after purchasing an additional 1,850 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in 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 in the last quarter. Institutional investors and hedge funds own 63.04% of the company’s stock.

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Shares of First Commonwealth Financial Corporation (FCF) traded up 0.15% during mid-day trading on Friday, reaching $13.11. 712,379 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $12.71 and a 200 day moving average of $12.87. The firm has a market capitalization of $1.27 billion, a P/E ratio of 18.52 and a beta of 0.99. First Commonwealth Financial Corporation has a one year low of $9.62 and a one year high of $14.61.

First Commonwealth Financial Corporation (NYSE:FCF) last announced its quarterly earnings results on Wednesday, July 26th. The bank reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. First Commonwealth Financial Corporation had a return on equity of 9.45% and a net margin of 21.61%. The company had revenue of $76.72 million during the quarter, compared to analyst estimates of $76.82 million. During the same quarter last year, the firm posted $0.14 earnings per share. On average, analysts forecast that First Commonwealth Financial Corporation will post $0.80 EPS for the current fiscal year.

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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