DA Davidson Reiterates Buy Rating for First Commonwealth Financial (NYSE:FCF)

First Commonwealth Financial (NYSE:FCF)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They presently have a $21.00 price objective on the bank’s stock. DA Davidson’s target price indicates a potential upside of 25.82% from the company’s current price.

A number of other brokerages have also recently issued reports on FCF. StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Keefe, Bruyette & Woods upped 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 report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of First Commonwealth Financial in a research note on Thursday. Stephens reissued an “overweight” rating and issued a $21.50 target price on shares of First Commonwealth Financial in a report on Wednesday. Finally, Piper Sandler dropped their price objective on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Price Performance

NYSE:FCF opened at $16.69 on Thursday. The company has a 50-day moving average of $17.34 and a 200-day moving average of $17.16. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 12.01 and a beta of 0.88. First Commonwealth Financial has a 52 week low of $12.41 and a 52 week high of $19.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.38%. As a group, equities research analysts anticipate that First Commonwealth Financial will post 1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Commonwealth Financial

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $64,876,000 after acquiring an additional 105,116 shares during the period. Barclays PLC grew its position in First Commonwealth Financial by 121.8% during the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock valued at $3,631,000 after acquiring an additional 116,295 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of First Commonwealth Financial during the third quarter valued at approximately $678,000. BNP Paribas Financial Markets lifted its stake in First Commonwealth Financial by 64.2% in the third quarter. BNP Paribas Financial Markets now owns 34,892 shares of the bank’s stock worth $598,000 after acquiring an additional 13,643 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in 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 period. 72.58% of the stock is currently owned by institutional investors.

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.