BlueCrest Capital Management Ltd Acquires New Holdings in First Commonwealth Financial Corporation (FCF)

BlueCrest Capital Management Ltd acquired a new stake in shares of First Commonwealth Financial Corporation (NYSE:FCF) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 22,456 shares of the bank’s stock, valued at approximately $285,000.

Several other institutional investors and hedge funds have also modified their holdings of FCF. BlackRock Inc. lifted its holdings in shares of First Commonwealth Financial Corporation by 45,299.4% during the 1st quarter. BlackRock Inc. now owns 10,979,393 shares of the bank’s stock valued at $145,588,000 after purchasing an additional 10,955,209 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Commonwealth Financial Corporation by 10.0% during the 1st quarter. Vanguard Group Inc. now owns 8,687,245 shares of the bank’s stock valued at $115,193,000 after purchasing an additional 792,067 shares during the last quarter. State Street Corp lifted its holdings in shares of First Commonwealth Financial Corporation by 14.5% during the 1st quarter. State Street Corp now owns 3,001,842 shares of the bank’s stock valued at $39,802,000 after purchasing an additional 379,322 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of First Commonwealth Financial Corporation during the 2nd quarter valued at $3,416,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of First Commonwealth Financial Corporation during the 2nd quarter valued at $2,731,000. Hedge funds and other institutional investors own 63.04% of the company’s stock.

First Commonwealth Financial Corporation (FCF) opened at 14.02 on Thursday. The firm has a market capitalization of $1.36 billion, a P/E ratio of 19.80 and a beta of 1.01. The company has a 50 day moving average price of $13.48 and a 200 day moving average price of $12.95. First Commonwealth Financial Corporation has a 52-week low of $9.76 and a 52-week high of $14.61.

First Commonwealth Financial Corporation (NYSE:FCF) last announced its earnings results on Wednesday, July 26th. The bank reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. First Commonwealth Financial Corporation had a net margin of 21.61% and a return on equity of 9.45%. The business had revenue of $76.72 million during the quarter, compared to analysts’ expectations of $76.82 million. During the same period in the prior year, the company earned $0.14 earnings per share. On average, equities analysts forecast that First Commonwealth Financial Corporation will post $0.80 EPS for the current fiscal year.

Several brokerages have recently commented on FCF. Zacks Investment Research lowered First Commonwealth Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. BidaskClub lowered First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 target price on shares of First Commonwealth Financial Corporation in a research report on Thursday, August 10th. Royal Bank Of Canada reissued a “buy” rating and issued a $14.00 target price on shares of First Commonwealth Financial Corporation in a research report on Friday, September 8th. Finally, Canaccord Genuity cut their target price on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $9.96.

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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.

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

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