Keefe, Bruyette & Woods Lowers First Commonwealth Financial Corp. (FCF) Price Target to $9.50
First Commonwealth Financial Corp. (NYSE:FCF) had its price target reduced by Keefe, Bruyette & Woods from $10.00 to $9.50 in a research note issued on Wednesday. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 5.09% from the stock’s previous close.
Separately, FBR & Co raised their target price on shares of First Commonwealth Financial Corp. from $9.50 to $10.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Six equities research analysts have rated the stock with a hold rating, First Commonwealth Financial Corp. has an average rating of “Hold” and an average target price of $9.40.
Shares of First Commonwealth Financial Corp. (NYSE:FCF) traded up 1.50% during midday trading on Wednesday, hitting $10.16. 59,637 shares of the stock were exchanged. The stock has a market cap of $902.52 million, a price-to-earnings ratio of 19.21 and a beta of 1.23. The firm’s 50-day moving average is $9.99 and its 200-day moving average is $9.31. First Commonwealth Financial Corp. has a 12 month low of $7.85 and a 12 month high of $10.36.
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First Commonwealth Financial Corp. (NYSE:FCF) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.02. First Commonwealth Financial Corp. had a net margin of 17.38% and a return on equity of 6.85%. During the same quarter in the prior year, the company earned $0.15 EPS. Equities research analysts predict that First Commonwealth Financial Corp. will post $0.61 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its position in First Commonwealth Financial Corp. by 2.9% in the second quarter. BlackRock Fund Advisors now owns 5,641,815 shares of the company’s stock worth $51,905,000 after buying an additional 161,343 shares in the last quarter. Victory Capital Management Inc. boosted its position in First Commonwealth Financial Corp. by 4.0% in the second quarter. Victory Capital Management Inc. now owns 2,561,124 shares of the company’s stock worth $23,562,000 after buying an additional 98,199 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in First Commonwealth Financial Corp. by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,491,423 shares of the company’s stock worth $22,074,000 after buying an additional 38,619 shares in the last quarter. Alliancebernstein L.P. boosted its position in First Commonwealth Financial Corp. by 2.5% in the second quarter. Alliancebernstein L.P. now owns 1,543,885 shares of the company’s stock worth $14,204,000 after buying an additional 36,950 shares in the last quarter. Finally, LSV Asset Management boosted its position in First Commonwealth Financial Corp. by 8.2% in the second quarter. LSV Asset Management now owns 1,376,422 shares of the company’s stock worth $12,663,000 after buying an additional 104,400 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.
First Commonwealth Financial Corp. 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.
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