First Commonwealth Financial (NYSE:FCF – Get Free Report) had its price target lifted by research analysts at Keefe, Bruyette & Woods from $18.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 7.01% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Piper Sandler decreased their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.70.
Check Out Our Latest Stock Report on FCF
First Commonwealth Financial Stock Down 0.1 %
First Commonwealth Financial (NYSE:FCF – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The firm had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. On average, research analysts forecast that First Commonwealth Financial will post 1.4 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other First Commonwealth Financial news, EVP Michael P. Mccuen acquired 2,919 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average cost of $16.99 per share, with a total value of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at $979,014.77. This represents a 5.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.97% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in FCF. Price T Rowe Associates Inc. MD lifted its holdings in First Commonwealth Financial by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,117 shares of the bank’s stock worth $656,000 after purchasing an additional 3,676 shares during the period. CWM LLC lifted its stake in shares of First Commonwealth Financial by 451.1% in the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after acquiring an additional 1,633 shares during the period. Buckingham Capital Management Inc. boosted its holdings in shares of First Commonwealth Financial by 54.9% in the second quarter. Buckingham Capital Management Inc. now owns 45,355 shares of the bank’s stock valued at $626,000 after acquiring an additional 16,082 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of First Commonwealth Financial by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the bank’s stock valued at $708,000 after acquiring an additional 900 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in First Commonwealth Financial by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock worth $16,702,000 after purchasing an additional 33,759 shares in the last quarter. 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.
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