First Commonwealth Financial (NYSE:FCF) now covered by StockNews.com

Investment analysts at StockNews.com assumed hedging on the shares of First Commonwealth Financial (NYSE: FCF – Get a rating) in a research report released Wednesday. The brokerage has placed a “hold” rating on the bank’s shares.

A number of other stock analysts also weighed in on the stock. Janney Montgomery Scott began covering First Commonwealth Financial shares in a research report on Thursday, September 29. They issued a “buy” rating and a price target of $16.00 for the company. Piper Sandler lowered her price target on shares of First Commonwealth Financial to $15.00 in a research report Wednesday, October 5. B. Riley raised his price target on First Commonwealth Financial shares from $16.00 to $17.00 in a Monday, August 1 research report. DA Davidson reaffirmed a “buy” rating on First Commonwealth Financial shares in a Wednesday, July 27 research report. Finally, Raymond James lowered his price target on First Commonwealth Financial shares from $17.00 to $16.00 and set an “outperform” rating for the company in a Tuesday, September 6 research report. Three equity research analysts rated the stock with a hold rating and five gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.42.

First Commonwealth Financial Stock up 1.4%

FCF stock opened at $13.38 on Wednesday. The company has a market capitalization of $1.25 billion, a P/E ratio of 9.91 and a beta of 0.97. First Commonwealth Financial has a 52-week low of $12.76 and a 52-week high of $17.63. The company’s 50-day moving average price is $13.91 and its 200-day moving average price is $13.94. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt ratio of 0.17.

First Commonwealth Financial (NYSE: FCF – Get a rating) last released its quarterly earnings data on Tuesday, July 26. The bank reported EPS of $0.33 for the quarter, meeting analyst consensus estimates of $0.33. The company posted revenue of $98.17 million for the quarter, versus a consensus estimate of $98.20 million. First Commonwealth Financial had a net margin of 32.04% and a return on equity of 11.74%. In the same quarter a year earlier, the company earned earnings per share of $0.31. On average, research analysts expect First Commonwealth Financial to post earnings per share of 1.39 for the current financial year.

Institutional entries and exits

Institutional investors and hedge funds have recently changed their positions in the company. Moisand Fitzgerald Tamayo LLC bought a new position in shares of First Commonwealth Financial in the second quarter worth $63,000. Psagot Value Holdings Ltd. Israel bought a new position in First Commonwealth Financial during Q1 worth $76,000. KBC Group NV acquired a new position in First Commonwealth Financial during the 2nd quarter for a value of $92,000. Captrust Financial Advisors increased its stake in First Commonwealth Financial by 59.3% during the first quarter. Captrust Financial Advisors now owns 8,689 shares of the bank valued at $132,000 after acquiring 3,233 additional shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in First Commonwealth Financial during Q2 worth $136,000. 70.36% of the shares are currently held by hedge funds and other institutional investors.

About First Commonwealth Financial

(Get a rating)

First Commonwealth Financial Corporation, a financial holding company, provides various retail and corporate banking services in the United States. Its consumer services include personal checking accounts, interest-bearing checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, interest rate certificates of deposit fixed and variable, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and ATM services ATMs, as well as internet, mobile and telephone banking.

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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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