Stephens Reaffirms Overweight Rating for First Commonwealth Financial (NYSE:FCF)

First Commonwealth Financial (NYSE:FCF)‘s stock had its “overweight” rating reissued by investment analysts at Stephens in a research report issued on Wednesday,Benzinga reports. They presently have a $21.50 target price on the bank’s stock. Stephens’ price objective would suggest a potential upside of 30.74% from the company’s previous close.

A number of other research firms have also commented on FCF. Keefe, Bruyette & Woods raised 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. Piper Sandler lowered their price target 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. Finally, StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 1st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.90.

First Commonwealth Financial Stock Performance

First Commonwealth Financial stock traded down $0.38 during mid-day trading on Wednesday, hitting $16.45. 123,770 shares of the company’s stock traded hands, compared to its average volume of 671,064. First Commonwealth Financial has a one year low of $12.41 and a one year high of $19.96. The company has a market cap of $1.67 billion, a PE ratio of 11.12 and a beta of 0.88. The firm has a 50 day moving average price of $17.48 and a 200 day moving average price of $17.16. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 earnings per share 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 analysts forecast that First Commonwealth Financial will post 1.4 EPS for the current year.

Institutional Investors Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently modified their holdings of FCF. Charles Schwab Investment Management Inc. grew its holdings in shares of First Commonwealth Financial by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after acquiring an additional 105,116 shares during the last quarter. Franklin Resources Inc. grew its holdings in First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock valued at $58,601,000 after buying an additional 456,119 shares during the last quarter. Principal Financial Group Inc. grew its stake 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 worth $9,243,000 after acquiring an additional 36,001 shares during the last quarter. Nordea Investment Management AB increased its position in First Commonwealth Financial by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 213,437 shares of the bank’s stock worth $3,611,000 after acquiring an additional 6,091 shares during the period. Finally, Barclays PLC raised its stake in First Commonwealth Financial by 121.8% during the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank’s stock valued at $3,631,000 after purchasing an additional 116,295 shares during the last quarter. Institutional investors and hedge funds 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.