First Commonwealth Financial (FCF) Stake Increased by California Public Employees Retirement System

California Public Employees Retirement System lifted its position in First Commonwealth Financial (NYSE:FCF) by 17.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,545 shares of the bank’s stock after acquiring an additional 39,648 shares during the quarter. California Public Employees Retirement System owned approximately 0.27% of First Commonwealth Financial worth $4,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Willingdon Wealth Management bought a new stake in shares of First Commonwealth Financial in the 2nd quarter worth $104,000. A.R.T. Advisors LLC bought a new stake in shares of First Commonwealth Financial in the 1st quarter worth $152,000. Bank of Montreal Can bought a new stake in shares of First Commonwealth Financial in the 2nd quarter worth $188,000. Fox Run Management L.L.C. bought a new stake in shares of First Commonwealth Financial in the 2nd quarter worth $201,000. Finally, Jane Street Group LLC bought a new stake in shares of First Commonwealth Financial in the 1st quarter worth $208,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Several analysts have recently issued reports on FCF shares. Zacks Investment Research lowered shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. ValuEngine upgraded shares of First Commonwealth Financial from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Boenning Scattergood reiterated a “hold” rating on shares of First Commonwealth Financial in a research note on Wednesday, July 25th. DA Davidson started coverage on shares of First Commonwealth Financial in a research note on Thursday, August 23rd. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Sandler O’Neill started coverage on shares of First Commonwealth Financial in a research note on Thursday, August 30th. They issued a “hold” rating and a $18.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, First Commonwealth Financial presently has an average rating of “Hold” and a consensus target price of $16.67.

FCF opened at $14.78 on Friday. The stock has a market cap of $1.53 billion, a P/E ratio of 18.02 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.88. First Commonwealth Financial has a fifty-two week low of $13.50 and a fifty-two week high of $17.91.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, July 24th. The bank reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The company had revenue of $89.98 million during the quarter, compared to analyst estimates of $82.38 million. First Commonwealth Financial had a net margin of 22.17% and a return on equity of 10.81%. During the same quarter in the prior year, the business earned $0.21 earnings per share. Analysts predict that First Commonwealth Financial will post 1.06 earnings per share for the current year.

First Commonwealth Financial Profile

First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, 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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Institutional Ownership by Quarter for First Commonwealth Financial (NYSE:FCF)

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