Royal Bank of Canada Reaffirms "Outperform" Rating for First Commonwealth Financial (NYSE:FCF)

First Commonwealth Financial (NYSE:FCF - Get Free Report)'s stock had its "outperform" rating restated by Royal Bank of Canada in a report released on Thursday,Benzinga reports. They presently have a $20.00 price objective on the bank's stock. Royal Bank of Canada's target price would suggest a potential upside of 21.69% from the company's current price.

Other analysts have also recently issued reports about the company. Piper Sandler cut 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. StockNews.com cut First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective on First Commonwealth Financial from $18.00 to $20.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Stephens reiterated an "overweight" rating and set a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $19.58.

First Commonwealth Financial Stock Down 1.5 %

Shares of FCF stock traded down $0.25 on Thursday, hitting $16.44. 574,542 shares of the stock were exchanged, compared to its average volume of 718,613. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.67 billion, a P/E ratio of 11.82 and a beta of 0.87. The business has a 50-day moving average of $17.34 and a 200 day moving average of $17.17. First Commonwealth Financial has a fifty-two week low of $12.41 and a fifty-two week high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 earnings per share 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%. Equities analysts anticipate that First Commonwealth Financial will post 1.41 EPS for the current year.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds have recently added to or reduced their stakes in FCF. Farther Finance Advisors LLC increased its stake in First Commonwealth Financial by 2,572.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank's stock worth $28,000 after acquiring an additional 1,595 shares during the period. Wilmington Savings Fund Society FSB bought a new position in First Commonwealth Financial during the 3rd quarter worth $46,000. CWM LLC increased its stake in First Commonwealth Financial by 92.0% during the 3rd 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 bought a new position in First Commonwealth Financial during the 3rd quarter worth $72,000. Finally, KBC Group NV increased its stake in First Commonwealth Financial by 61.6% during the 4th 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. Institutional investors own 72.58% of the company's stock.

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.