First Commonwealth Financial (NYSE:FCF) PT Raised to $18.00 at Royal Bank of Canada

First Commonwealth Financial (NYSE:FCF) had its target price lifted by equities research analysts at Royal Bank of Canada from $17.00 to $18.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s price target would suggest a potential downside of 4.86% from the stock’s current price.

FCF has been the subject of several other reports. Keefe, Bruyette & Woods raised their price target on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday. Piper Sandler upped their target price on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.13.

First Commonwealth Financial Stock Up 9.4 %

NYSE:FCF traded up $1.62 during mid-day trading on Thursday, hitting $18.92. 790,868 shares of the company’s stock were exchanged, compared to its average volume of 499,122. The company has a market cap of $1.94 billion, a PE ratio of 11.75 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.92. First Commonwealth Financial has a one year low of $11.16 and a one year high of $18.99. The business has a fifty day moving average price of $14.03 and a 200 day moving average price of $13.76.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. First Commonwealth Financial had a return on equity of 12.29% and a net margin of 23.39%. The firm had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.34 million. During the same period in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts predict that First Commonwealth Financial will post 1.38 EPS for the current year.

Institutional Trading of First Commonwealth Financial

A number of large investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp lifted its position in First Commonwealth Financial by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 89,097 shares of the bank’s stock valued at $1,240,000 after purchasing an additional 887 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of First Commonwealth Financial by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the bank’s stock worth $708,000 after buying an additional 900 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of First Commonwealth Financial by 4.0% in the first quarter. Inspire Investing LLC now owns 25,775 shares of the bank’s stock worth $359,000 after acquiring an additional 995 shares during the period. ProShare Advisors LLC increased its position in First Commonwealth Financial by 6.3% during the first quarter. ProShare Advisors LLC now owns 20,434 shares of the bank’s stock valued at $284,000 after acquiring an additional 1,217 shares during the last quarter. Finally, CWM LLC increased its position in First Commonwealth Financial by 451.1% during the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,633 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors.

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.