Alliancebernstein L.P. lifted its holdings in First Commonwealth Financial (NYSE:FCF) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,854 shares of the bank’s stock after acquiring an additional 3,850 shares during the quarter. Alliancebernstein L.P. owned 0.16% of First Commonwealth Financial worth $1,461,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. S&T Bank PA acquired a new stake in shares of First Commonwealth Financial in the first quarter worth $121,000. AJO LP acquired a new stake in shares of First Commonwealth Financial in the first quarter worth $179,000. Parametric Portfolio Associates LLC increased its stake in shares of First Commonwealth Financial by 0.6% in the first quarter. Parametric Portfolio Associates LLC now owns 1,235,720 shares of the bank’s stock worth $11,294,000 after acquiring an additional 7,495 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in First Commonwealth Financial by 344.6% during the first quarter. BNP Paribas Arbitrage SA now owns 104,914 shares of the bank’s stock worth $959,000 after buying an additional 81,316 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in First Commonwealth Financial by 7.3% during the first quarter. JPMorgan Chase & Co. now owns 2,055,077 shares of the bank’s stock worth $18,784,000 after buying an additional 139,320 shares in the last quarter. Hedge funds and other institutional investors own 68.03% of the company’s stock.
FCF opened at $8.01 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. The company has a market cap of $740.92 million, a price-to-earnings ratio of 9.21 and a beta of 1.08. First Commonwealth Financial has a 52-week low of $6.77 and a 52-week high of $14.93. The firm’s fifty day simple moving average is $8.08 and its two-hundred day simple moving average is $10.93.
A number of analysts recently issued reports on FCF shares. DA Davidson lowered their price target on shares of First Commonwealth Financial from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Royal Bank of Canada downgraded shares of First Commonwealth Financial from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $12.00 to $9.00 in a report on Wednesday, May 13th. Piper Sandler downgraded shares of First Commonwealth Financial from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $11.00 to $10.00 in a report on Friday, May 1st. B. Riley downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $16.00 to $9.00 in a report on Wednesday, March 25th. Finally, ValuEngine downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Friday, April 3rd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $10.40.
In other First Commonwealth Financial news, EVP Matthew C. Tomb purchased 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $6.93 per share, with a total value of $27,720.00. Following the completion of the purchase, the executive vice president now owns 63,647 shares in the company, valued at approximately $441,073.71. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.53% of the company’s stock.
First Commonwealth Financial Company Profile
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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