Comerica Bank increased its stake in First Commonwealth Financial Corporation (NYSE:FCF) by 4.1% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 98,618 shares of the bank’s stock after buying an additional 3,882 shares during the period. Comerica Bank owned about 0.11% of First Commonwealth Financial Corporation worth $1,303,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in First Commonwealth Financial Corporation during the fourth quarter valued at approximately $6,803,000. State Street Corp boosted its position in First Commonwealth Financial Corporation by 5.0% in the fourth quarter. State Street Corp now owns 2,622,520 shares of the bank’s stock valued at $37,183,000 after buying an additional 124,402 shares during the last quarter. Renaissance Technologies LLC boosted its position in First Commonwealth Financial Corporation by 24.4% in the fourth quarter. Renaissance Technologies LLC now owns 996,700 shares of the bank’s stock valued at $14,133,000 after buying an additional 195,500 shares during the last quarter. Menta Capital LLC bought a new position in First Commonwealth Financial Corporation during the fourth quarter valued at approximately $772,000. Finally, Capstone Investment Advisors LLC bought a new position in First Commonwealth Financial Corporation during the fourth quarter valued at approximately $711,000. 60.29% of the stock is owned by hedge funds and other institutional investors.

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

First Commonwealth Financial Corporation (FCF) opened at 12.90 on Friday. The stock’s 50 day moving average price is $12.73 and its 200 day moving average price is $13.39. First Commonwealth Financial Corporation has a 52-week low of $8.46 and a 52-week high of $14.61. The firm has a market capitalization of $1.15 billion, a PE ratio of 18.19 and a beta of 1.00.

First Commonwealth Financial Corporation (NYSE:FCF) last announced its earnings results on Tuesday, April 25th. The bank reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $68.76 million during the quarter, compared to the consensus estimate of $69.45 million. First Commonwealth Financial Corporation had a return on equity of 8.68% and a net margin of 21.86%. During the same period last year, the firm earned $0.14 earnings per share. Analysts expect that First Commonwealth Financial Corporation will post $0.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Friday, May 5th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $0.32 annualized dividend and a dividend yield of 2.48%. First Commonwealth Financial Corporation’s dividend payout ratio is presently 45.07%.

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FCF has been the subject of several analyst reports. Raymond James Financial, Inc. reissued an “outperform” rating and set a C$4.50 target price on shares of First Commonwealth Financial Corporation in a research note on Wednesday, March 1st. Zacks Investment Research raised First Commonwealth Financial Corporation from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, March 28th. FBR & Co reissued a “hold” rating on shares of First Commonwealth Financial Corporation in a research note on Wednesday, April 26th. Canaccord Genuity cut First Commonwealth Financial Corporation from a “buy” rating to a “speculative buy” rating and lowered their target price for the stock from C$4.50 to C$4.25 in a research note on Monday, May 8th. Finally, BidaskClub raised First Commonwealth Financial Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. First Commonwealth Financial Corporation currently has a consensus rating of “Hold” and an average price target of $8.67.

In other First Commonwealth Financial Corporation news, Director Bart E. Johnson bought 3,267 shares of the stock in a transaction dated Monday, May 8th. The stock was bought at an average cost of $12.88 per share, for a total transaction of $42,078.96. Following the completion of the purchase, the director now directly owns 52,220 shares of the company’s stock, valued at $672,593.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen Reid bought 15,000 shares of the stock in a transaction dated Tuesday, March 28th. The shares were acquired at an average price of $3.38 per share, with a total value of $50,700.00. Insiders have bought 108,195 shares of company stock valued at $390,032 over the last 90 days. Insiders own 1.72% of the company’s stock.

First Commonwealth Financial Corporation Company 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.

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