Northern Trust Corp Buys 84,936 Shares of First Commonwealth Financial Corporation (NYSE:FCF)

Northern Trust Corp boosted its position in First Commonwealth Financial Corporation (NYSE:FCF) by 5.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,552,863 shares of the bank’s stock after buying an additional 84,936 shares during the period. Northern Trust Corp owned approximately 1.59% of First Commonwealth Financial Corporation worth $19,689,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of FCF. Ameritas Investment Partners Inc. bought a new stake in First Commonwealth Financial Corporation during the 1st quarter worth approximately $101,000. Envestnet Asset Management Inc. grew its holdings in shares of First Commonwealth Financial Corporation by 15.7% in the first quarter. Envestnet Asset Management Inc. now owns 11,532 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,564 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of First Commonwealth Financial Corporation by 25.8% in the second quarter. Trexquant Investment LP now owns 13,127 shares of the bank’s stock valued at $166,000 after acquiring an additional 2,696 shares in the last quarter. Amalgamated Bank grew its holdings in shares of First Commonwealth Financial Corporation by 9.7% in the second quarter. Amalgamated Bank now owns 13,150 shares of the bank’s stock valued at $167,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in shares of First Commonwealth Financial Corporation in the second quarter valued at approximately $209,000. 63.14% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Corporation (NYSE FCF) remained flat at $$13.78 during trading on Friday. The company’s stock had a trading volume of 215,200 shares, compared to its average volume of 440,067. The stock has a market cap of $1,340.00, a P/E ratio of 16.60 and a beta of 0.97. First Commonwealth Financial Corporation has a 12-month low of $10.81 and a 12-month high of $14.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.86.

First Commonwealth Financial Corporation (NYSE:FCF) last released its earnings results on Wednesday, October 25th. The bank reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $80.46 million for the quarter, compared to analysts’ expectations of $79.29 million. First Commonwealth Financial Corporation had a return on equity of 9.53% and a net margin of 21.96%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. research analysts expect that First Commonwealth Financial Corporation will post 0.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.32%. First Commonwealth Financial Corporation’s dividend payout ratio is presently 43.24%.

Several research firms have recently issued reports on FCF. Zacks Investment Research raised First Commonwealth Financial Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Tuesday, September 19th. BidaskClub downgraded First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $14.00 price objective on shares of First Commonwealth Financial Corporation in a research note on Thursday, August 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $14.00 price objective on shares of First Commonwealth Financial Corporation in a research note on Friday, September 8th. Finally, Canaccord Genuity dropped their target price on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $9.96.

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First Commonwealth Financial Corporation 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.

Institutional Ownership by Quarter for First Commonwealth Financial Corporation (NYSE:FCF)

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