Todays Report: The First Commonwealth Financial Corp. (FCF) Downgraded by Zacks Investment Research

The First Commonwealth Financial Corp. (FCF) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of First Commonwealth Financial Corp. (NYSE:FCF) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

According to Zacks, “First Commonwealth Financial Corporation is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended. The Corporation operates two chartered banks, First Commonwealth Bank and Southwest Bank. Personal financial planning and other financial services and insurance products are also provided through First Commonwealth Trust Company and First Commonwealth Insurance Agency. The Corporation also operates through Commonwealth Systems Corporation, a data processing subsidiary. “

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods lifted their target price on First Commonwealth Financial Corp. from $9.00 to $9.50 and gave the stock a market perform rating in a research note on Friday, July 29th. FBR & Co boosted their price target on First Commonwealth Financial Corp. from $9.50 to $10.00 and gave the company a market perform rating in a research note on Friday, July 29th. Six equities research analysts have rated the stock with a hold rating, The company has a consensus rating of Hold and an average price target of $9.67.

Shares of First Commonwealth Financial Corp. (NYSE:FCF) opened at 9.90 on Thursday. First Commonwealth Financial Corp. has a 12 month low of $7.85 and a 12 month high of $10.36. The company has a market cap of $879.43 million, a PE ratio of 18.71 and a beta of 1.10. The firm’s 50-day moving average price is $10.06 and its 200-day moving average price is $9.43.

First Commonwealth Financial Corp. (NYSE:FCF) last issued its earnings results on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.02. First Commonwealth Financial Corp. had a return on equity of 6.85% and a net margin of 17.38%. During the same period in the prior year, the company earned $0.15 EPS. Equities analysts predict that First Commonwealth Financial Corp. will post $0.61 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in shares of First Commonwealth Financial Corp. by 0.8% in the first quarter. IFP Advisors Inc now owns 19,115 shares of the company’s stock valued at $169,000 after buying an additional 151 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of First Commonwealth Financial Corp. by 1.4% in the second quarter. Citadel Advisors LLC now owns 12,173 shares of the company’s stock valued at $112,000 after buying an additional 171 shares in the last quarter. PineBridge Investments L.P. boosted its position in shares of First Commonwealth Financial Corp. by 4.1% in the second quarter. PineBridge Investments L.P. now owns 11,085 shares of the company’s stock valued at $102,000 after buying an additional 440 shares in the last quarter. Arizona State Retirement System boosted its position in shares of First Commonwealth Financial Corp. by 1.1% in the second quarter. Arizona State Retirement System now owns 46,038 shares of the company’s stock valued at $424,000 after buying an additional 500 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of First Commonwealth Financial Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 12,439 shares of the company’s stock valued at $114,000 after buying an additional 1,506 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Corp. Company Profile

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

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