First Commonwealth Financial Corporation (FCF) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of First Commonwealth Financial Corporation (NYSE:FCF) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $15.00 target price on the bank’s stock.

According to Zacks, “First Commonwealth Financial Corporation is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended. The Corporation operates two chartered banks, First Commonwealth Bank and Southwest Bank. Personal financial planning and other financial services and insurance products are also provided through First Commonwealth Trust Company and First Commonwealth Insurance Agency. The Corporation also operates through Commonwealth Systems Corporation, a data processing subsidiary. “

A number of other research firms also recently weighed in on FCF. BidaskClub raised First Commonwealth Financial Corporation from a sell rating to a hold rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $14.00 price target on shares of First Commonwealth Financial Corporation in a research report on Thursday, August 10th. Royal Bank Of Canada assumed coverage on First Commonwealth Financial Corporation in a research report on Monday, July 17th. They set an outperform rating and a $14.00 price target for the company. Raymond James Financial, Inc. reduced their price target on First Commonwealth Financial Corporation from C$4.50 to C$3.75 and set an outperform rating for the company in a research report on Wednesday, August 30th. Finally, Canaccord Genuity reduced their price target on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a buy rating for the company in a research report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $9.96.

First Commonwealth Financial Corporation (NYSE:FCF) opened at 13.38 on Tuesday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 18.90 and a beta of 0.99. The company’s 50-day moving average is $12.72 and its 200 day moving average is $12.87. First Commonwealth Financial Corporation has a 12 month low of $9.62 and a 12 month high of $14.61.

First Commonwealth Financial Corporation (NYSE:FCF) last released its quarterly earnings results on Wednesday, July 26th. The bank reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. First Commonwealth Financial Corporation had a return on equity of 9.45% and a net margin of 21.61%. The firm had revenue of $76.72 million during the quarter, compared to the consensus estimate of $76.82 million. During the same quarter in the prior year, the firm posted $0.14 EPS. Equities analysts forecast that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by BBNS and is the sole property of of BBNS. If you are reading this piece of content on another website, it was stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece of content can be accessed at https://baseballnewssource.com/markets/first-commonwealth-financial-corporation-fcf-upgraded-by-zacks-investment-research-to-buy-2/1660862.html.

Institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of First Commonwealth Financial Corporation during the 1st quarter worth approximately $101,000. Quantbot Technologies LP bought a new stake in shares of First Commonwealth Financial Corporation during the 2nd quarter worth approximately $113,000. Trexquant Investment LP bought a new stake in shares of First Commonwealth Financial Corporation during the 1st quarter worth approximately $138,000. Bank of Montreal Can raised its stake in shares of First Commonwealth Financial Corporation by 6.5% during the 1st quarter. Bank of Montreal Can now owns 11,470 shares of the bank’s stock worth $153,000 after purchasing an additional 698 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of First Commonwealth Financial Corporation by 15.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 11,532 shares of the bank’s stock worth $153,000 after purchasing an additional 1,564 shares in the last quarter. Institutional investors own 63.04% of the company’s stock.

First Commonwealth Financial Corporation Company Profile

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

Get a free copy of the Zacks research report on First Commonwealth Financial Corporation (FCF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for First Commonwealth Financial Corporation (NYSE:FCF)

Receive News & Ratings for First Commonwealth Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Bryce Harper Hoping to Return Monday from Knee Injury
Bryce Harper Hoping to Return Monday from Knee Injury
American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?


Leave a Reply

 
© 2006-2017 BBNS.