Stephens Reaffirms “Overweight” Rating for First Commonwealth Financial (NYSE:FCF)

First Commonwealth Financial (NYSE:FCF)‘s stock had its “overweight” rating reissued by equities researchers at Stephens in a research note issued on Wednesday,Benzinga reports. They presently have a $21.50 target price on the bank’s stock. Stephens’ price target points to a potential upside of 29.09% from the company’s previous close.

Several other equities analysts have also recently weighed in on FCF. Keefe, Bruyette & Woods lifted their price objective on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 1st. Finally, Piper Sandler decreased their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.58.

First Commonwealth Financial Stock Up 3.1 %

FCF opened at $16.66 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a fifty day moving average of $17.39 and a 200-day moving average of $17.15. First Commonwealth Financial has a fifty-two week low of $12.41 and a fifty-two week high of $19.96. The company has a market capitalization of $1.70 billion, a P/E ratio of 11.25 and a beta of 0.88.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data 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 net margin of 21.87% and a return on equity of 11.19%. On average, equities analysts expect that First Commonwealth Financial will post 1.4 EPS for the current year.

Hedge Funds Weigh In On First Commonwealth Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its position in shares of First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after acquiring an additional 456,119 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in First Commonwealth Financial in the fourth quarter worth approximately $2,147,000. Barclays PLC lifted its stake in First Commonwealth Financial by 121.8% in the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock valued at $3,631,000 after buying an additional 116,295 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after buying an additional 105,116 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of First Commonwealth Financial by 39.5% during the 3rd quarter. Jane Street Group LLC now owns 150,590 shares of the bank’s stock worth $2,583,000 after buying an additional 42,632 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

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.