Royal Bank of Canada Reiterates “Outperform” Rating for First Commonwealth Financial (NYSE:FCF)

First Commonwealth Financial (NYSE:FCFGet Free Report)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research note issued on Thursday,Benzinga reports. They currently have a $20.00 price target on the bank’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 20.03% from the company’s previous close.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Piper Sandler lowered their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Stephens restated an “overweight” rating and set a $21.50 target price on shares of First Commonwealth Financial in a research report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock 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 issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.58.

Read Our Latest Stock Analysis on FCF

First Commonwealth Financial Stock Up 3.1 %

Shares of NYSE:FCF traded up $0.50 during trading hours on Thursday, hitting $16.66. The company’s stock had a trading volume of 158,686 shares, compared to its average volume of 685,444. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 11.26 and a beta of 0.88. First Commonwealth Financial has a 52 week low of $12.41 and a 52 week high of $19.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s fifty day moving average price is $17.43 and its 200 day moving average price is $17.15.

First Commonwealth Financial (NYSE:FCFGet Free Report) last released its quarterly earnings results 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 net margin of 21.87% and a return on equity of 11.19%. As a group, research analysts expect that First Commonwealth Financial will post 1.4 EPS for the current year.

Hedge Funds Weigh In On First Commonwealth Financial

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after buying an additional 105,116 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of First Commonwealth Financial by 15.3% during the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after buying an additional 456,119 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of First Commonwealth Financial by 7.2% in the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock valued at $9,243,000 after purchasing an additional 36,001 shares during the period. Nordea Investment Management AB increased its stake in First Commonwealth Financial by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 213,437 shares of the bank’s stock valued at $3,611,000 after buying an additional 6,091 shares during the period. Finally, Barclays PLC raised its holdings in First Commonwealth Financial by 121.8% during the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after purchasing an additional 116,295 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Company Profile

(Get Free Report)

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.

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