First Commonwealth Financial (NYSE:FCF) Raised to “Buy” at DA Davidson

DA Davidson upgraded shares of First Commonwealth Financial (NYSE:FCF) from a neutral rating to a buy rating in a report released on Monday morning, AR Network reports.

FCF has been the subject of a number of other reports. Boenning Scattergood lowered First Commonwealth Financial from an outperform rating to a neutral rating in a research note on Tuesday, November 10th. B. Riley raised their target price on First Commonwealth Financial from $12.00 to $13.00 and gave the company a neutral rating in a research note on Thursday, January 7th. ValuEngine upgraded First Commonwealth Financial from a sell rating to a hold rating in a research report on Thursday, December 3rd. BidaskClub upgraded First Commonwealth Financial from a buy rating to a strong-buy rating in a research report on Tuesday, December 8th. Finally, Zacks Investment Research lowered First Commonwealth Financial from a buy rating to a hold rating in a research report on Friday, January 8th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $10.50.

Shares of NYSE:FCF opened at $12.56 on Monday. First Commonwealth Financial has a twelve month low of $6.77 and a twelve month high of $14.45. The firm has a market cap of $1.21 billion, a PE ratio of 16.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.93 and a current ratio of 0.93. The business has a fifty day moving average of $10.78 and a 200-day moving average of $8.94.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, October 27th. The bank reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. First Commonwealth Financial had a return on equity of 7.42% and a net margin of 18.68%. The company had revenue of $93.14 million during the quarter, compared to analyst estimates of $91.57 million. On average, analysts anticipate that First Commonwealth Financial will post 0.75 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of FCF. American International Group Inc. boosted its holdings in First Commonwealth Financial by 2.5% during the second quarter. American International Group Inc. now owns 69,060 shares of the bank’s stock worth $572,000 after buying an additional 1,696 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in First Commonwealth Financial by 15.6% during the second quarter. State of Tennessee Treasury Department now owns 50,928 shares of the bank’s stock worth $422,000 after buying an additional 6,860 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in First Commonwealth Financial during the second quarter worth about $311,000. Bank of America Corp DE boosted its holdings in First Commonwealth Financial by 1.0% during the second quarter. Bank of America Corp DE now owns 176,133 shares of the bank’s stock worth $1,459,000 after buying an additional 1,782 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in First Commonwealth Financial during the second quarter worth about $30,000. Hedge funds and other institutional investors own 64.74% of the company’s stock.

About First Commonwealth Financial

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 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.

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Analyst Recommendations for First Commonwealth Financial (NYSE:FCF)

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