Stephens Downgrades First Commonwealth Financial (NYSE:FCF) to Equal Weight

First Commonwealth Financial (NYSE:FCFGet Rating) was downgraded by investment analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, Marketbeat reports. They currently have a $15.50 price objective on the bank’s stock. Stephens’ target price would indicate a potential upside of 7.04% from the company’s current price.

Several other research firms have also recently weighed in on FCF. B. Riley boosted their price target on shares of First Commonwealth Financial from $16.00 to $17.00 in a report on Monday. DA Davidson restated a “buy” rating on shares of First Commonwealth Financial in a report on Wednesday, July 27th. Finally, Raymond James cut shares of First Commonwealth Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, July 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.13.

First Commonwealth Financial Stock Down 0.3 %

Shares of NYSE FCF opened at $14.48 on Wednesday. The stock has a market capitalization of $1.37 billion, a P/E ratio of 10.73 and a beta of 1.01. The company has a 50-day moving average price of $13.80 and a 200-day moving average price of $14.72. First Commonwealth Financial has a 1 year low of $12.36 and a 1 year high of $17.63. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.90 and a quick ratio of 0.90.

First Commonwealth Financial (NYSE:FCFGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The bank reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. First Commonwealth Financial had a net margin of 32.04% and a return on equity of 11.74%. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, equities research analysts forecast that First Commonwealth Financial will post 1.41 EPS for the current fiscal year.

Institutional Trading of First Commonwealth Financial

Several hedge funds and other institutional investors have recently modified their holdings of FCF. Allspring Global Investments Holdings LLC bought a new stake in shares of First Commonwealth Financial in the fourth quarter valued at approximately $1,017,000. Commonwealth Equity Services LLC raised its position in shares of First Commonwealth Financial by 9.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 47,244 shares of the bank’s stock valued at $760,000 after purchasing an additional 4,066 shares during the period. Yousif Capital Management LLC bought a new stake in shares of First Commonwealth Financial in the fourth quarter valued at approximately $1,414,000. D.A. Davidson & CO. bought a new stake in shares of First Commonwealth Financial in the fourth quarter valued at approximately $341,000. Finally, Assenagon Asset Management S.A. raised its position in shares of First Commonwealth Financial by 542.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 386,816 shares of the bank’s stock valued at $6,224,000 after purchasing an additional 326,622 shares during the period. Institutional investors own 68.56% of the company’s stock.

First Commonwealth Financial Company Profile

(Get Rating)

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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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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