First Commonwealth Financial (NYSE: FCF – Get a rating) was downgraded by Stephens stock analysts from an “overweight” rating to an “equally weighted” rating in a report released Wednesday, market beat reports. They currently have a $15.50 price target on the bank’s stock. Stephens’ price target would suggest a potential upside of 7.04% from the company’s current price.
Several other brokerages have also recently weighed in on FCF. DA Davidson reissued a “buy” rating on First Commonwealth Financial shares in a research report on Wednesday July 27. Raymond James upgraded shares of First Commonwealth Financial from an “outperforming” rating to a “market performing” rating in a Thursday, July 7 research report. Finally, B. Riley raised his price target on shares of First Commonwealth Financial from $16.00 to $17.00 in a report on Monday. Three analysts gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.13.
First Commonwealth Financial Trading down 0.3%
Shares of FCF opened at $14.48 on Wednesday. The stock has a market capitalization of $1.37 billion, a P/E ratio of 10.73 and a beta of 1.01. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt ratio of 0.17. The company has a fifty-day simple moving average of $13.80 and a two-hundred-day simple moving average of $14.72. First Commonwealth Financial has a 12-month low of $12.36 and a 12-month high of $17.63.
First Commonwealth Financial (NYSE: FCF – Get a rating) last announced its quarterly results on Tuesday, July 26. The bank reported earnings per share of $0.33 for the quarter, matching the consensus estimate of $0.33. 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 posted earnings per share of $0.31. On average, research analysts expect First Commonwealth Financial to post EPS of 1.41 for the current year.
Institutional entries and exits
Several institutional investors have recently increased or reduced their stake in FCF. Citigroup Inc. increased its stake in shares of First Commonwealth Financial by 40.4% in the fourth quarter. Citigroup Inc. now owns 76,330 shares of the bank worth $1,228,000 after acquiring 21,948 additional shares last quarter. Victory Capital Management Inc. increased its stake in shares of First Commonwealth Financial by 17.1% in the fourth quarter. Victory Capital Management Inc. now owns 522,185 shares of the bank worth $8,402,000 after acquiring an additional 76,233 shares last quarter. Waldron Private Wealth LLC increased its equity stake in First Commonwealth Financial by 0.7% in Q1. Waldron Private Wealth LLC now owns 1,205,568 shares of the bank worth $18,276,000 after acquiring 8,757 additional shares last quarter. DA Davidson & CO. bought a new position in shares of First Commonwealth Financial in the 4th quarter for a value of approximately $341,000. Finally, Jennison Associates LLC bought a new position in shares of First Commonwealth Financial in Q4 for a value of approximately $1,348,000. 68.56% of the shares are currently held by institutional investors.
About First Commonwealth Financial
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 loans, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and automated teller machine (ATM) services ), as well as internet, mobile and telephone banking.
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