First Commonwealth Financial (NYSE:FCF) Earns Outperform Rating from Royal Bank of Canada

First Commonwealth Financial (NYSE:FCF)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They currently have a $20.00 price target on the bank’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 19.83% from the company’s previous close.

FCF has been the topic of several other reports. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Keefe, Bruyette & Woods increased 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. Stephens restated an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a report on Wednesday. Finally, Piper Sandler cut their price objective on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, First Commonwealth Financial currently has a consensus rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Price Performance

FCF opened at $16.69 on Thursday. First Commonwealth Financial has a one year low of $12.41 and a one year high of $19.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50 day simple moving average is $17.34 and its 200-day simple moving average is $17.16. The stock has a market capitalization of $1.70 billion, a P/E ratio of 12.01 and a beta of 0.88.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.43%. Sell-side analysts anticipate that First Commonwealth Financial will post 1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Commonwealth Financial

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in First Commonwealth Financial by 2,572.6% in the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock worth $28,000 after purchasing an additional 1,595 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of First Commonwealth Financial during the third quarter worth $46,000. CWM LLC raised its holdings in shares of First Commonwealth Financial by 92.0% during the third quarter. CWM LLC now owns 3,830 shares of the bank’s stock worth $66,000 after acquiring an additional 1,835 shares during the period. nVerses Capital LLC acquired a new stake in shares of First Commonwealth Financial during the third quarter worth $72,000. Finally, KBC Group NV raised its holdings in shares of First Commonwealth Financial by 61.6% during the fourth quarter. KBC Group NV now owns 5,842 shares of the bank’s stock worth $99,000 after acquiring an additional 2,226 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.

About First Commonwealth Financial

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.