Comerica Bank Sells 8,670 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Comerica Bank lowered its holdings in shares of First Commonwealth Financial Co. (NYSE:FCFGet Rating) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,659 shares of the bank’s stock after selling 8,670 shares during the period. Comerica Bank owned about 0.08% of First Commonwealth Financial worth $999,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Moisand Fitzgerald Tamayo LLC bought a new position in shares of First Commonwealth Financial during the second quarter valued at about $63,000. KBC Group NV bought a new position in First Commonwealth Financial during the 2nd quarter worth approximately $92,000. Financial Enhancement Group LLC purchased a new position in First Commonwealth Financial in the 3rd quarter worth approximately $116,000. Captrust Financial Advisors lifted its position in First Commonwealth Financial by 59.3% in the first quarter. Captrust Financial Advisors now owns 8,689 shares of the bank’s stock valued at $132,000 after purchasing an additional 3,233 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of First Commonwealth Financial during the second quarter valued at approximately $136,000. Hedge funds and other institutional investors own 69.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FCF has been the topic of several analyst reports. Janney Montgomery Scott started coverage on shares of First Commonwealth Financial in a research note on Thursday, September 29th. They issued a “buy” rating and a $16.00 target price on the stock. StockNews.com began coverage on shares of First Commonwealth Financial in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Piper Sandler cut their target price on First Commonwealth Financial to $15.00 in a research note on Wednesday, October 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.90.

First Commonwealth Financial Trading Down 1.1 %

Shares of FCF opened at $13.90 on Wednesday. First Commonwealth Financial Co. has a 1-year low of $12.76 and a 1-year high of $17.41. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $14.18 and its 200-day moving average price is $14.07. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 10.30 and a beta of 0.99.

First Commonwealth Financial (NYSE:FCFGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). First Commonwealth Financial had a net margin of 31.21% and a return on equity of 12.01%. The firm had revenue of $108.27 million for the quarter, compared to the consensus estimate of $105.48 million. Sell-side analysts anticipate that First Commonwealth Financial Co. will post 1.42 EPS for the current year.

About First Commonwealth Financial

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First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health 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.

Further Reading

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

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