Fort Pitt Capital Group LLC bought a new stake in First Commonwealth Financial (NYSE:FCF) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,430 shares of the bank’s stock, valued at approximately $151,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Man Group plc purchased a new stake in First Commonwealth Financial during the 4th quarter worth approximately $180,000. Cubist Systematic Strategies LLC raised its stake in shares of First Commonwealth Financial by 41.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 19,892 shares of the bank’s stock valued at $289,000 after purchasing an additional 5,858 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in shares of First Commonwealth Financial in the 4th quarter valued at about $658,000. AQR Capital Management LLC acquired a new stake in shares of First Commonwealth Financial in the fourth quarter valued at about $146,000. Finally, Jane Street Group LLC acquired a new stake in shares of First Commonwealth Financial in the fourth quarter valued at about $217,000. 69.18% of the stock is currently owned by institutional investors.
In other First Commonwealth Financial news, EVP Matthew C. Tomb acquired 3,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was purchased at an average price of $9.92 per share, for a total transaction of $29,760.00. Corporate insiders own 1.53% of the company’s stock.
Several research analysts have commented on the stock. ValuEngine upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 16th. Zacks Investment Research cut shares of First Commonwealth Financial from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, B. Riley cut shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $9.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.33.
Shares of NYSE FCF traded up $0.34 during midday trading on Thursday, reaching $8.82. The stock had a trading volume of 3,891 shares, compared to its average volume of 692,482. The stock has a 50-day moving average of $11.75 and a 200-day moving average of $13.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $833.16 million, a price-to-earnings ratio of 8.08 and a beta of 1.13. First Commonwealth Financial has a 12-month low of $7.86 and a 12-month high of $14.93.
First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, January 28th. The bank reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). First Commonwealth Financial had a net margin of 25.64% and a return on equity of 10.51%. The business had revenue of $91.73 million for the quarter, compared to analysts’ expectations of $91.27 million. During the same period last year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts forecast that First Commonwealth Financial will post 1.06 EPS for the current fiscal year.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiaries, 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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