Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of First Commonwealth Financial (NYSE:FCF) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 46,400 shares of the bank’s stock, valued at approximately $656,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in FCF. SG Americas Securities LLC acquired a new stake in First Commonwealth Financial during the 1st quarter valued at approximately $148,000. A.R.T. Advisors LLC acquired a new stake in First Commonwealth Financial during the 1st quarter valued at approximately $152,000. Jane Street Group LLC acquired a new stake in First Commonwealth Financial during the 1st quarter valued at approximately $208,000. Xact Kapitalforvaltning AB acquired a new stake in First Commonwealth Financial during the 4th quarter valued at approximately $217,000. Finally, Koch Industries Inc. acquired a new stake in First Commonwealth Financial during the 1st quarter valued at approximately $230,000. Institutional investors and hedge funds own 66.85% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, May 30th. ValuEngine raised shares of First Commonwealth Financial from a “hold” rating to a “buy” rating in a report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $12.00.
First Commonwealth Financial opened at $15.69 on Thursday, Marketbeat Ratings reports. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.60 billion, a PE ratio of 18.15 and a beta of 0.93. First Commonwealth Financial has a 1-year low of $12.06 and a 1-year high of $16.40.
First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, April 24th. The bank reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $81.73 million during the quarter, compared to analyst estimates of $79.69 million. First Commonwealth Financial had a net margin of 18.06% and a return on equity of 9.69%. During the same period in the previous year, the firm earned $0.18 EPS. analysts expect that First Commonwealth Financial will post 1.03 earnings per share for the current fiscal year.
In other news, CEO T Michael Price sold 50,127 shares of First Commonwealth Financial stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $15.75, for a total transaction of $789,500.25. Following the completion of the transaction, the chief executive officer now directly owns 182,510 shares of the company’s stock, valued at approximately $2,874,532.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.42% of the stock is owned by insiders.
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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