Ameriprise Financial Inc. Grows Stake in First Commonwealth Financial Corporation (FCF)

Ameriprise Financial Inc. raised its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 723,148 shares of the bank’s stock after buying an additional 78,360 shares during the quarter. Ameriprise Financial Inc. owned about 0.74% of First Commonwealth Financial worth $10,218,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of First Commonwealth Financial by 13.3% in the third quarter. Russell Investments Group Ltd. now owns 601,036 shares of the bank’s stock valued at $8,493,000 after purchasing an additional 70,750 shares during the period. Comerica Bank lifted its position in First Commonwealth Financial by 11.6% in the third quarter. Comerica Bank now owns 102,766 shares of the bank’s stock valued at $1,478,000 after buying an additional 10,651 shares during the last quarter. Rhumbline Advisers lifted its position in First Commonwealth Financial by 5.1% in the third quarter. Rhumbline Advisers now owns 214,406 shares of the bank’s stock valued at $3,030,000 after buying an additional 10,423 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in First Commonwealth Financial by 50.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 46,710 shares of the bank’s stock valued at $660,000 after buying an additional 15,680 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in First Commonwealth Financial by 8.8% in the third quarter. Principal Financial Group Inc. now owns 795,077 shares of the bank’s stock valued at $11,234,000 after buying an additional 64,458 shares during the last quarter. 65.64% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on the stock. Zacks Investment Research raised shares of First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, October 27th. FBR & Co reaffirmed a “neutral” rating and issued a $14.00 target price on shares of First Commonwealth Financial in a research report on Friday, October 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 target price on shares of First Commonwealth Financial in a research report on Wednesday, October 4th. ValuEngine cut shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Finally, Raymond James Financial reduced their price target on shares of First Commonwealth Financial from C$4.50 to C$3.75 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.83.

Shares of First Commonwealth Financial Corporation (FCF) opened at $14.74 on Thursday. The stock has a market cap of $1,445.32, a PE ratio of 17.87 and a beta of 0.97. First Commonwealth Financial Corporation has a 1 year low of $12.05 and a 1 year high of $15.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.86.

First Commonwealth Financial (NYSE:FCF) last issued 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 firm had revenue of $80.46 million for the quarter, compared to analysts’ expectations of $79.29 million. First Commonwealth Financial had a net margin of 21.96% and a return on equity of 9.53%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. research analysts expect that First Commonwealth Financial Corporation will post 0.82 EPS for the current fiscal year.

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About First Commonwealth Financial

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 (NYSE:FCF)

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