First Commonwealth Financial (NYSE:FCF) Receives Buy Rating from DA Davidson

First Commonwealth Financial (NYSE:FCF - Get Free Report)'s stock had its "buy" rating restated by equities researchers at DA Davidson in a note issued to investors on Thursday,Benzinga reports. They presently have a $21.00 target price on the bank's stock. DA Davidson's target price would suggest a potential upside of 27.78% from the stock's current price.

FCF has been the topic of several other reports. StockNews.com downgraded First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an "outperform" rating and issued a $20.00 price objective on shares of First Commonwealth Financial in a research report on Thursday. Stephens reissued an "overweight" rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. Piper Sandler lowered their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on First Commonwealth Financial from $18.00 to $20.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $19.58.

First Commonwealth Financial Price Performance

Shares of NYSE FCF traded down $0.25 during mid-day trading on Thursday, hitting $16.44. 574,542 shares of the stock traded hands, compared to its average volume of 718,613. The company has a market cap of $1.67 billion, a PE ratio of 11.82 and a beta of 0.87. First Commonwealth Financial has a twelve month low of $12.41 and a twelve month high of $19.96. The firm has a 50 day simple moving average of $17.34 and a two-hundred day simple moving average of $17.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its 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 return on equity of 10.36% and a net margin of 20.38%. As a group, equities research analysts forecast that First Commonwealth Financial will post 1.41 EPS for the current fiscal year.

Institutional Trading of First Commonwealth Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB bought a new stake in First Commonwealth Financial during the 4th quarter worth approximately $257,000. Ieq Capital LLC bought a new stake in First Commonwealth Financial during the 4th quarter worth approximately $207,000. Principal Financial Group Inc. increased its holdings in First Commonwealth Financial by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 557,397 shares of the bank's stock worth $9,431,000 after purchasing an additional 18,433 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of First Commonwealth Financial in the 4th quarter worth approximately $2,147,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of First Commonwealth Financial by 18.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,859 shares of the bank's stock worth $1,256,000 after buying an additional 11,675 shares during the last quarter. 72.58% of the stock is 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.