First Commonwealth Financial (NYSE:FCF) Price Target Increased to $18.00 by Analysts at Royal Bank of Canada

First Commonwealth Financial (NYSE:FCF) had its price target lifted by Royal Bank of Canada from $17.00 to $18.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the bank’s stock.

A number of other research analysts also recently weighed in on FCF. StockNews.com upgraded First Commonwealth Financial from a sell rating to a hold rating in a report on Saturday, May 25th. Piper Sandler lifted their price target on First Commonwealth Financial from $14.00 to $17.00 and gave the company a neutral rating in a report on Thursday. Finally, Keefe, Bruyette & Woods lifted their price target on First Commonwealth Financial from $16.00 to $18.00 and gave the company a market perform rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Commonwealth Financial has a consensus rating of Hold and an average price target of $17.13.

First Commonwealth Financial Stock Up 7.5 %

Shares of First Commonwealth Financial stock opened at $18.60 on Thursday. The stock’s fifty day moving average is $14.12 and its 200-day moving average is $13.79. The firm has a market capitalization of $1.90 billion, a PE ratio of 11.56 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial has a 12-month low of $11.16 and a 12-month high of $19.01.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The business had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.34 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. First Commonwealth Financial’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts anticipate that First Commonwealth Financial will post 1.38 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 2.80%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 32.30%.

Institutional Trading of First Commonwealth Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its position in shares of First Commonwealth Financial by 451.1% during the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after purchasing an additional 1,633 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of First Commonwealth Financial in the 4th quarter valued at approximately $74,000. Tower Research Capital LLC TRC grew its position in First Commonwealth Financial by 50.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,666 shares of the bank’s stock worth $103,000 after acquiring an additional 2,236 shares during the last quarter. Entropy Technologies LP bought a new stake in First Commonwealth Financial during the 1st quarter worth approximately $152,000. Finally, EMC Capital Management grew its position in First Commonwealth Financial by 28.6% during the 1st quarter. EMC Capital Management now owns 15,823 shares of the bank’s stock worth $220,000 after acquiring an additional 3,523 shares during the last quarter. Institutional investors and hedge funds 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.