Bank of New York Mellon Corp Has $23.64 Million Position in First Commonwealth Financial Corporation (FCF)

Bank of New York Mellon Corp boosted its stake in First Commonwealth Financial Corporation (NYSE:FCF) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,864,415 shares of the bank’s stock after purchasing an additional 50,819 shares during the quarter. Bank of New York Mellon Corp owned about 1.92% of First Commonwealth Financial Corporation worth $23,641,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in First Commonwealth Financial Corporation in the first quarter valued at about $101,000. Trexquant Investment LP acquired a new position in First Commonwealth Financial Corporation in the first quarter valued at about $138,000. Bank of Montreal Can raised its stake in First Commonwealth Financial Corporation by 6.5% in the first quarter. Bank of Montreal Can now owns 11,470 shares of the bank’s stock valued at $153,000 after purchasing an additional 698 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in First Commonwealth Financial Corporation by 15.7% in the first quarter. Envestnet Asset Management Inc. now owns 11,532 shares of the bank’s stock valued at $153,000 after purchasing an additional 1,564 shares in the last quarter. Finally, Oxford Asset Management acquired a new position in First Commonwealth Financial Corporation in the first quarter valued at about $170,000. 63.10% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Corporation (FCF) opened at 13.01 on Friday. The company has a 50-day moving average price of $12.70 and a 200-day moving average price of $12.91. The firm has a market cap of $1.26 billion, a P/E ratio of 18.38 and a beta of 0.99. First Commonwealth Financial Corporation has a 1-year low of $9.62 and a 1-year high of $14.61.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.46%. First Commonwealth Financial Corporation’s dividend payout ratio (DPR) is 45.07%.

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A number of research firms recently commented on FCF. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $14.00 price target on shares of First Commonwealth Financial Corporation in a research note on Friday, September 8th. Zacks Investment Research raised First Commonwealth Financial Corporation from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, September 5th. Raymond James Financial, Inc. dropped their price target on First Commonwealth Financial Corporation from C$4.50 to C$3.75 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Canaccord Genuity dropped their price target on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a “buy” rating for the company in a research note on Wednesday, August 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 price target on shares of First Commonwealth Financial Corporation in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $9.82.

First Commonwealth Financial Corporation 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 Corporation (NYSE:FCF)

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