First Commonwealth price target lowered to $18 from $20 at RBC Capital

RBC Capital lowered the firm’s price target on First Commonwealth (FCF) to $18 from $20 and keeps an Outperform rating on the shares following quarterly results. The firm says this was a solid quarter with margin expansion, core loan and deposit growth, offsetting higher expenses trends. RBC remains encouraged by the guidance for 2025, which calls for margin expansion, solid loan growth, and more disciplined near-term expense management.