DA Davidson Reiterates “Buy” Rating for First Commonwealth Financial (NYSE:FCF)

First Commonwealth Financial (NYSE:FCF)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a research report issued on Thursday,Benzinga reports. They presently have a $21.00 price target on the bank’s stock. DA Davidson’s price target suggests a potential upside of 26.04% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of First Commonwealth Financial in a research report on Thursday. Keefe, Bruyette & Woods upped their target price on shares of 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, 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 research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Trading Up 3.1 %

FCF traded up $0.50 during midday trading on Thursday, hitting $16.66. The company’s stock had a trading volume of 158,686 shares, compared to its average volume of 685,444. The firm has a market cap of $1.70 billion, a P/E ratio of 11.26 and a beta of 0.88. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $17.43 and a two-hundred day moving average price of $17.15. First Commonwealth Financial has a 52-week low of $12.41 and a 52-week high of $19.96.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. On average, research analysts anticipate that First Commonwealth Financial will post 1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sei Investments Co. raised its stake in shares of First Commonwealth Financial by 12.8% during the second quarter. Sei Investments Co. now owns 21,053 shares of the bank’s stock valued at $291,000 after acquiring an additional 2,381 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of First Commonwealth Financial in the 2nd quarter valued at about $245,000. AQR Capital Management LLC increased its stake in shares of First Commonwealth Financial by 53.8% in the second quarter. AQR Capital Management LLC now owns 75,340 shares of the bank’s stock valued at $1,040,000 after buying an additional 26,348 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of First Commonwealth Financial during the second quarter worth about $231,000. Finally, Algert Global LLC acquired a new position in shares of First Commonwealth Financial in the second quarter worth approximately $142,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

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.