Analysts at Royal Bank Of Canada began coverage on shares of First Commonwealth Financial Corporation (NYSE:FCF) in a research note issued on Monday, Marketbeat reports. The brokerage set an “outperform” rating and a $14.00 price target on the bank’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 8.02% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of First Commonwealth Financial Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub raised First Commonwealth Financial Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Canaccord Genuity raised First Commonwealth Financial Corporation from a “speculative buy” rating to a “buy” rating and set a C$4.25 price target for the company in a research note on Thursday, June 1st. Finally, FBR & Co reaffirmed a “hold” rating on shares of First Commonwealth Financial Corporation in a research note on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $9.43.
First Commonwealth Financial Corporation (NYSE:FCF) opened at 12.96 on Monday. The stock has a 50 day moving average of $12.74 and a 200-day moving average of $13.25. The firm has a market cap of $1.15 billion, a PE ratio of 18.28 and a beta of 0.97. First Commonwealth Financial Corporation has a 52 week low of $9.25 and a 52 week high of $14.61.
First Commonwealth Financial Corporation (NYSE:FCF) last announced its earnings results on Tuesday, April 25th. The bank reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The company had revenue of $68.76 million during the quarter, compared to analysts’ expectations of $69.45 million. First Commonwealth Financial Corporation had a net margin of 21.86% and a return on equity of 8.68%. During the same quarter in the previous year, the business posted $0.14 earnings per share. Analysts expect that First Commonwealth Financial Corporation will post $0.77 earnings per share for the current year.
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In other First Commonwealth Financial Corporation news, Director Stephen Reid bought 35,700 shares of the stock in a transaction on Thursday, June 1st. The stock was purchased at an average price of $3.35 per share, with a total value of $119,595.00. Also, Director Bart E. Johnson bought 3,267 shares of the stock in a transaction on Monday, May 8th. The shares were acquired at an average cost of $12.88 per share, with a total value of $42,078.96. Following the purchase, the director now owns 52,220 shares of the company’s stock, valued at approximately $672,593.60. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 90,711 shares of company stock valued at $310,797. Insiders own 1.72% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of FCF. State Street Corp increased its position in shares of First Commonwealth Financial Corporation by 5.0% in the fourth quarter. State Street Corp now owns 2,622,520 shares of the bank’s stock valued at $37,183,000 after buying an additional 124,402 shares during the last quarter. Norges Bank acquired a new position in shares of First Commonwealth Financial Corporation during the fourth quarter valued at approximately $9,506,000. Comerica Bank increased its position in shares of First Commonwealth Financial Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 94,736 shares of the bank’s stock valued at $1,333,000 after buying an additional 5,128 shares during the last quarter. Bank of Montreal Can increased its position in shares of 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 valued at $153,000 after buying an additional 698 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of First Commonwealth Financial Corporation by 2.3% in the fourth quarter. AQR Capital Management LLC now owns 327,461 shares of the bank’s stock valued at $4,643,000 after buying an additional 7,307 shares during the last quarter. 60.04% of the stock is owned by hedge funds and other 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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