Comerica Bank Has $1.48 Million Stake in First Commonwealth Financial Corporation (FCF)

Comerica Bank boosted its holdings in First Commonwealth Financial Corporation (NYSE:FCF) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,766 shares of the bank’s stock after acquiring an additional 10,651 shares during the quarter. Comerica Bank owned about 0.11% of First Commonwealth Financial worth $1,478,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. IFP Advisors Inc raised its position in First Commonwealth Financial by 0.6% in the second quarter. IFP Advisors Inc now owns 20,524 shares of the bank’s stock worth $260,000 after acquiring an additional 120 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in First Commonwealth Financial by 11.1% in the second quarter. Ameritas Investment Partners Inc. now owns 8,496 shares of the bank’s stock worth $108,000 after acquiring an additional 846 shares in the last quarter. Nisa Investment Advisors LLC raised its position in First Commonwealth Financial by 2.8% in the second quarter. Nisa Investment Advisors LLC now owns 31,350 shares of the bank’s stock worth $398,000 after acquiring an additional 850 shares in the last quarter. Amalgamated Bank raised its position in First Commonwealth Financial by 9.7% in the second quarter. Amalgamated Bank now owns 13,150 shares of the bank’s stock worth $167,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its position in First Commonwealth Financial by 6.6% in the second quarter. Wedge Capital Management L L P NC now owns 26,676 shares of the bank’s stock worth $338,000 after acquiring an additional 1,656 shares in the last quarter. Hedge funds and other institutional investors own 65.70% of the company’s stock.

Shares of First Commonwealth Financial Corporation (NYSE FCF) opened at $15.15 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $1,476.50, a price-to-earnings ratio of 18.25 and a beta of 0.97. First Commonwealth Financial Corporation has a twelve month low of $12.05 and a twelve month high of $15.42.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Wednesday, October 25th. The bank reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The company had revenue of $80.46 million for the quarter, compared to analyst estimates of $79.29 million. First Commonwealth Financial had a return on equity of 9.53% and a net margin of 21.96%. First Commonwealth Financial’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. equities research analysts forecast that First Commonwealth Financial Corporation will post 0.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.11%. The ex-dividend date was Friday, November 3rd. First Commonwealth Financial’s dividend payout ratio (DPR) is 43.24%.

FCF has been the subject of several research analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $14.00 price objective on shares of First Commonwealth Financial in a research report on Wednesday, October 4th. Raymond James Financial cut their price objective on First Commonwealth Financial from C$4.50 to C$3.75 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Zacks Investment Research cut First Commonwealth Financial from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Canaccord Genuity cut their price objective on First Commonwealth Financial from C$4.25 to C$3.25 and set a “buy” rating for the company in a research report on Wednesday, August 30th. Finally, FBR & Co reiterated a “neutral” rating and issued a $14.00 price objective on shares of First Commonwealth Financial in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $10.83.

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

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