First Commonwealth Financial Corporation (NYSE:FCF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $14.00 price objective on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.02% 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. “

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 target price on shares of First Commonwealth Financial Corporation in a report on Thursday, August 10th. BidaskClub cut shares of First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada started coverage on shares of First Commonwealth Financial Corporation in a report on Monday, July 17th. They issued an “outperform” rating and a $14.00 target price on the stock. Canaccord Genuity raised shares of First Commonwealth Financial Corporation from a “speculative buy” rating to a “buy” rating and set a C$4.25 price objective on the stock in a report on Thursday, June 1st. Finally, FBR & Co reissued a “hold” rating on shares of First Commonwealth Financial Corporation in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $10.07.

First Commonwealth Financial Corporation (NYSE FCF) traded down 0.08% during midday trading on Wednesday, hitting $12.61. 261,227 shares of the stock were exchanged. The company has a market cap of $1.23 billion, a PE ratio of 17.81 and a beta of 0.97. The firm’s 50 day moving average price is $12.82 and its 200 day moving average price is $13.05. 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 issued its earnings results on Wednesday, July 26th. The bank reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The firm had revenue of $76.72 million for the quarter, compared to analysts’ expectations 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 company earned $0.14 earnings per share. On average, equities research analysts forecast that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current fiscal year.

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In related news, Director Stephen Reid acquired 35,700 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were bought at an average price of $3.35 per share, with a total value of $119,595.00. In the last three months, insiders have acquired 88,444 shares of company stock worth $271,168. 1.72% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new stake in First Commonwealth Financial Corporation during the first quarter worth $101,000. Quantbot Technologies LP bought a new stake in First Commonwealth Financial Corporation during the second quarter worth $113,000. State of Alaska Department of Revenue boosted its stake in First Commonwealth Financial Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 9,820 shares of the bank’s stock worth $130,000 after buying an additional 190 shares during the last quarter. Trexquant Investment LP bought a new stake in First Commonwealth Financial Corporation during the first quarter worth $138,000. Finally, Bank of Montreal Can boosted its stake 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 buying an additional 698 shares during the last quarter. 60.79% of the stock is currently owned by institutional investors.

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.

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

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