First Commonwealth Financial (NYSE:FCF) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

First Commonwealth Financial (NYSE:FCF) had its price target hoisted by analysts at Royal Bank Of Canada from $23.00 to $24.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Royal Bank Of Canada’s target price points to a potential upside of 11.65% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price objective on shares of First Commonwealth Financial in a research report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

First Commonwealth Financial Price Performance

NYSE:FCF traded down $0.29 on Thursday, reaching $21.50. The stock had a trading volume of 527,837 shares, compared to its average volume of 811,925. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.19 billion, a P/E ratio of 13.18 and a beta of 0.74. First Commonwealth Financial has a 1-year low of $15.00 and a 1-year high of $22.34. The stock has a fifty day moving average price of $19.95 and a 200-day moving average price of $18.67.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $139.42 million during the quarter, compared to analysts’ expectations of $137.48 million. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.82%. Research analysts forecast that First Commonwealth Financial will post 1.71 EPS for the current year.

Insider Activity at First Commonwealth Financial

In other First Commonwealth Financial news, CFO James R. Reske sold 2,072 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.50, for a total value of $42,476.00. Following the completion of the sale, the chief financial officer directly owned 77,204 shares in the company, valued at $1,582,682. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Mccuen sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total value of $97,545.00. Following the sale, the executive vice president directly owned 56,861 shares in the company, valued at approximately $1,056,477.38. This represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,430 shares of company stock worth $455,766 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of First Commonwealth Financial

A number of large investors have recently bought and sold shares of the business. State Street Corp lifted its stake in First Commonwealth Financial by 4.7% in the fourth quarter. State Street Corp now owns 4,854,021 shares of the bank’s stock valued at $81,839,000 after buying an additional 216,099 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of First Commonwealth Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,376,999 shares of the bank’s stock worth $73,796,000 after acquiring an additional 34,594 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of First Commonwealth Financial by 0.5% during the third quarter. Franklin Resources Inc. now owns 3,943,604 shares of the bank’s stock worth $67,238,000 after acquiring an additional 21,061 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in First Commonwealth Financial by 6.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank’s stock valued at $42,422,000 after acquiring an additional 162,079 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in First Commonwealth Financial by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,467,460 shares of the bank’s stock valued at $41,607,000 after acquiring an additional 6,421 shares in the last quarter. 72.58% of the stock is owned by institutional investors.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.