First Commonwealth Financial (NYSE:FCF) Receives $16.00 Average Target Price from Analysts

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First Commonwealth Financial (NYSE:FCF) has been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $16.00.

Several analysts have issued reports on the company. B. Riley set a $16.00 price target on First Commonwealth Financial and gave the company a “buy” rating in a research note on Wednesday, July 24th. Zacks Investment Research downgraded First Commonwealth Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Boenning Scattergood reissued a “neutral” rating on shares of First Commonwealth Financial in a research note on Thursday, June 20th.

FCF opened at $13.50 on Thursday. The business’s 50-day moving average price is $12.67 and its two-hundred day moving average price is $13.09. First Commonwealth Financial has a 1 year low of $11.33 and a 1 year high of $16.65. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.54 and a beta of 1.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.90 and a quick ratio of 0.90.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. First Commonwealth Financial had a return on equity of 10.49% and a net margin of 26.30%. The firm had revenue of $89.03 million for the quarter, compared to the consensus estimate of $88.15 million. During the same quarter last year, the business posted $0.33 EPS. Sell-side analysts anticipate that First Commonwealth Financial will post 1.1 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCF. NumerixS Investment Technologies Inc grew its holdings in First Commonwealth Financial by 2,233.3% during the first quarter. NumerixS Investment Technologies Inc now owns 7,000 shares of the bank’s stock worth $88,000 after purchasing an additional 6,700 shares during the period. Everence Capital Management Inc. acquired a new position in First Commonwealth Financial during the first quarter valued at approximately $160,000. NEXT Financial Group Inc acquired a new position in shares of First Commonwealth Financial during the second quarter worth $197,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of First Commonwealth Financial during the second quarter worth $213,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of First Commonwealth Financial by 880.7% during the first quarter. BNP Paribas Arbitrage SA now owns 22,841 shares of the bank’s stock worth $288,000 after buying an additional 20,512 shares in the last quarter. 67.06% of the stock is currently owned by hedge funds and other institutional investors.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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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