First Commonwealth Financial (NYSE:FCF) Receives Overweight Rating from Stephens

First Commonwealth Financial (NYSE:FCF)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a report released on Wednesday,Benzinga reports. They presently have a $21.50 price objective on the bank’s stock. Stephens’ target price indicates a potential upside of 29.09% from the company’s previous close.

A number of other research firms also recently issued reports on FCF. Piper Sandler cut their price objective on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 1st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Stock Up 3.1 %

First Commonwealth Financial stock opened at $16.66 on Wednesday. First Commonwealth Financial has a 1-year low of $12.41 and a 1-year high of $19.96. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 11.25 and a beta of 0.88. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average price is $17.39 and its two-hundred day moving average price is $17.15.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. On average, equities research analysts predict that First Commonwealth Financial will post 1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Commonwealth Financial

A number of hedge funds have recently modified their holdings of FCF. Charles Schwab Investment Management Inc. grew its holdings in First Commonwealth Financial by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock valued at $64,876,000 after purchasing an additional 105,116 shares during the period. Barclays PLC increased its holdings in First Commonwealth Financial by 121.8% in the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after acquiring an additional 116,295 shares during the last quarter. Royce & Associates LP bought a new stake in First Commonwealth Financial in the 3rd quarter valued at about $678,000. BNP Paribas Financial Markets lifted its holdings in First Commonwealth Financial by 64.2% during the third quarter. BNP Paribas Financial Markets now owns 34,892 shares of the bank’s stock valued at $598,000 after purchasing an additional 13,643 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in First Commonwealth Financial by 7.2% during the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock worth $9,243,000 after purchasing an additional 36,001 shares during the period. Institutional investors own 72.58% of the company’s stock.

About First Commonwealth Financial

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.