RBC Capital Reaffirms Their Hold Rating on First Commonwealth (FCF)


In a report released yesterday, Steven Duong from RBC Capital maintained a Hold rating on First Commonwealth (FCF), with a price target of $9.00. The company’s shares closed last Thursday at $8.51.

According to TipRanks.com, Duong is a 1-star analyst with an average return of -4.7% and a 51.2% success rate. Duong covers the Financial sector, focusing on stocks such as Provident Financial Services, People’s United Financial, and Valley National Bancorp.

First Commonwealth has an analyst consensus of Hold, with a price target consensus of $9.50, a 15.9% upside from current levels. In a report issued on October 28, Raymond James also maintained a Hold rating on the stock.

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Based on First Commonwealth’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $93.14 million and net profit of $19.19 million. In comparison, last year the company earned revenue of $90.62 million and had a net profit of $26.64 million.

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First Commonwealth Financial Corp. is a financial holding company, which provides a diversified array of consumer and commercial banking services through its bank subsidiary, First Commonwealth Bank (FCB). It also provides trust and wealth management services and offer insurance products through FCB and its other operating subsidiaries. The firm’s consumer services include Internet, mobile, and telephone banking; an automated teller machine network; personal checking accounts; interest-earning checking accounts; savings accounts; insured money market accounts; debit cards; investment certificates; fixed and variable rate certificates of deposit; secured and unsecured installment loans; construction and real estate loans; safe deposit facilities; credit lines with overdraft checking protection; and IRA accounts. Its commercial banking services include commercial lending, small and high-volume business checking accounts, on-line account management services, ACH origination, payroll direct deposit, commercial cash management services and repurchase agreements. The company was founded on November 15, 1982 and is headquartered in Indiana, PA.

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