First Commonwealth Financial Corp. (FCF) Lowered to “Hold” at Zacks Investment Research
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. “
FCF has been the subject of a number of other reports. Keefe, Bruyette & Woods reduced their target price on shares of First Commonwealth Financial Corp. from $10.00 to $9.50 and set a market perform rating for the company in a report on Wednesday, September 21st. FBR & Co upped their target price on shares of First Commonwealth Financial Corp. from $9.50 to $10.00 and gave the company a market perform rating in a report on Friday, July 29th. Six research analysts have rated the stock with a hold rating, First Commonwealth Financial Corp. presently has an average rating of Hold and a consensus price target of $9.67.
First Commonwealth Financial Corp. (NYSE:FCF) traded down 0.60% during mid-day trading on Thursday, hitting $9.88. 89,154 shares of the stock were exchanged. First Commonwealth Financial Corp. has a 52 week low of $7.85 and a 52 week high of $10.36. The stock has a market capitalization of $877.65 million, a PE ratio of 18.68 and a beta of 1.10. The company has a 50-day moving average of $10.06 and a 200-day moving average of $9.40.
First Commonwealth Financial Corp. (NYSE:FCF) last announced its earnings results on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.02. First Commonwealth Financial Corp. had a net margin of 17.38% and a return on equity of 6.85%. During the same quarter in the previous year, the firm earned $0.15 EPS. On average, equities analysts predict that First Commonwealth Financial Corp. will post $0.61 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in FCF. Amalgamated Bank bought a new position in First Commonwealth Financial Corp. during the second quarter worth approximately $104,000. PineBridge Investments L.P. boosted its position in 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 worth $102,000 after buying an additional 440 shares during the last quarter. Citadel Advisors LLC boosted its position in First Commonwealth Financial Corp. by 1.4% in the second quarter. Citadel Advisors LLC now owns 12,173 shares of the company’s stock worth $112,000 after buying an additional 171 shares during the last quarter. Teacher Retirement System of Texas boosted its position in 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 worth $114,000 after buying an additional 1,506 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new position in First Commonwealth Financial Corp. during the second quarter worth approximately $160,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.
About First Commonwealth Financial Corp.
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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