MetLife Investment Advisors LLC purchased a new stake in shares of First Commonwealth Financial (NYSE:FCF) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 45,936 shares of the bank’s stock, valued at approximately $658,000.
A number of other hedge funds also recently added to or reduced their stakes in FCF. Meeder Asset Management Inc. boosted its stake in First Commonwealth Financial by 130.2% during the 4th quarter. Meeder Asset Management Inc. now owns 8,882 shares of the bank’s stock valued at $127,000 after purchasing an additional 5,023 shares during the last quarter. Algert Global LLC acquired a new position in First Commonwealth Financial during the 3rd quarter valued at about $141,000. Janney Montgomery Scott LLC acquired a new position in First Commonwealth Financial during the 3rd quarter valued at about $282,000. Cubist Systematic Strategies LLC boosted its stake in First Commonwealth Financial by 25.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 25,998 shares of the bank’s stock valued at $367,000 after purchasing an additional 5,213 shares during the last quarter. Finally, OxFORD Asset Management LLP boosted its stake in First Commonwealth Financial by 144.5% during the 3rd quarter. OxFORD Asset Management LLP now owns 30,928 shares of the bank’s stock valued at $437,000 after purchasing an additional 18,278 shares during the last quarter. Institutional investors and hedge funds own 68.17% of the company’s stock.
A number of research firms have issued reports on FCF. ValuEngine upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research downgraded First Commonwealth Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $16.00 price target on shares of First Commonwealth Financial in a research note on Monday, January 29th. B. Riley reiterated a “hold” rating and set a $16.00 price target on shares of First Commonwealth Financial in a research note on Thursday, January 25th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of First Commonwealth Financial in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. First Commonwealth Financial presently has an average rating of “Hold” and a consensus price target of $11.86.
Shares of NYSE FCF opened at $14.41 on Tuesday. First Commonwealth Financial has a twelve month low of $12.05 and a twelve month high of $15.67. The company has a market capitalization of $1,390.69, a PE ratio of 17.57 and a beta of 0.92. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09.
First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. First Commonwealth Financial had a return on equity of 9.24% and a net margin of 16.67%. The firm had revenue of $80.98 million for the quarter, compared to the consensus estimate of $80.90 million. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. analysts forecast that First Commonwealth Financial will post 1.02 EPS for the current fiscal year.
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First Commonwealth Financial Profile
First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (ATM) services, as well as Internet, mobile, and telephone banking services.
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