First Commonwealth Financial (NYSE:FCF) Earns Buy Rating from DA Davidson

First Commonwealth Financial (NYSE:FCF)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a research report issued on Thursday,Benzinga reports. They presently have a $21.00 target price on the bank’s stock. DA Davidson’s target price indicates a potential upside of 26.04% from the stock’s previous close.

Several other analysts have also commented on FCF. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Stephens reiterated an “overweight” rating and issued a $21.50 price target on shares of First Commonwealth Financial in a report on Wednesday. Keefe, Bruyette & Woods raised their price objective on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of First Commonwealth Financial in a research report on Thursday. Finally, Piper Sandler reduced their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Trading Up 3.1 %

FCF traded up $0.50 during trading on Thursday, hitting $16.66. 158,686 shares of the stock traded hands, compared to its average volume of 685,444. The firm has a 50-day moving average of $17.43 and a 200 day moving average of $17.15. First Commonwealth Financial has a 12-month low of $12.41 and a 12-month high of $19.96. The firm has a market capitalization of $1.70 billion, a P/E ratio of 11.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. Equities research analysts anticipate that First Commonwealth Financial will post 1.4 EPS for the current year.

Hedge Funds Weigh In On First Commonwealth Financial

Several hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in First Commonwealth Financial by 2,572.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock worth $28,000 after purchasing an additional 1,595 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in First Commonwealth Financial in the 3rd quarter valued at about $46,000. CWM LLC lifted its stake in First Commonwealth Financial by 92.0% in the 3rd quarter. CWM LLC now owns 3,830 shares of the bank’s stock worth $66,000 after purchasing an additional 1,835 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of First Commonwealth Financial in the third quarter valued at approximately $72,000. Finally, KBC Group NV increased its holdings in shares of First Commonwealth Financial by 61.6% in the fourth quarter. KBC Group NV now owns 5,842 shares of the bank’s stock valued at $99,000 after purchasing an additional 2,226 shares during the last quarter. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health 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.