Zacks Investment Research upgraded shares of First Commonwealth Financial Corporation (NYSE:FCF) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $15.00 price target 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 equities research analysts have also weighed in on the company. Royal Bank Of Canada initiated coverage on First Commonwealth Financial Corporation in a research note on Monday, July 17th. They set an outperform rating and a $14.00 price target on the stock. Canaccord Genuity dropped their price target on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a buy rating on the stock in a research note on Wednesday, August 30th. BidaskClub lowered First Commonwealth Financial Corporation from a hold rating to a sell rating in a research note on Thursday, June 22nd. Raymond James Financial, Inc. dropped their price target on First Commonwealth Financial Corporation from C$4.50 to C$3.75 and set an outperform rating on the stock in a research note on Wednesday, August 30th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $14.00 price target on shares of First Commonwealth Financial Corporation in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $9.96.

Shares of First Commonwealth Financial Corporation (FCF) remained flat at $13.28 during trading on Tuesday. The stock had a trading volume of 67,630 shares. First Commonwealth Financial Corporation has a 12 month low of $9.62 and a 12 month high of $14.61. The stock’s 50-day moving average is $12.72 and its 200 day moving average is $12.87. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 18.76 and a beta of 0.99.

First Commonwealth Financial Corporation (NYSE:FCF) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $76.72 million for the quarter, compared to analyst estimates of $76.82 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. On average, equities research analysts expect that First Commonwealth Financial Corporation will post $0.80 EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its holdings in shares of First Commonwealth Financial Corporation by 6.5% during the first quarter. Bank of Montreal Can now owns 11,470 shares of the bank’s stock worth $153,000 after purchasing an additional 698 shares during the period. AQR Capital Management LLC lifted its holdings in shares of First Commonwealth Financial Corporation by 19.1% during the first quarter. AQR Capital Management LLC now owns 389,862 shares of the bank’s stock worth $5,170,000 after purchasing an additional 62,401 shares during the period. Vanguard Group Inc. lifted its holdings in shares of First Commonwealth Financial Corporation by 10.0% during the first quarter. Vanguard Group Inc. now owns 8,687,245 shares of the bank’s stock worth $115,193,000 after purchasing an additional 792,067 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of First Commonwealth Financial Corporation during the second quarter worth about $2,731,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of First Commonwealth Financial Corporation by 11.3% during the first quarter. BNP Paribas Arbitrage SA now owns 18,239 shares of the bank’s stock worth $242,000 after purchasing an additional 1,850 shares during the period. 63.04% of the stock is owned by hedge funds and other institutional investors.

About First Commonwealth Financial Corporation

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.

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

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