Janney Montgomery Scott LLC Purchases 6,968 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Janney Montgomery Scott LLC boosted its position in shares of First Commonwealth Financial Co. (NYSE:FCFGet Rating) by 35.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,721 shares of the bank’s stock after acquiring an additional 6,968 shares during the period. Janney Montgomery Scott LLC’s holdings in First Commonwealth Financial were worth $343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FCF. Raymond James & Associates raised its position in shares of First Commonwealth Financial by 14.2% during the first quarter. Raymond James & Associates now owns 22,914 shares of the bank’s stock valued at $347,000 after buying an additional 2,845 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of First Commonwealth Financial by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 1,284,307 shares of the bank’s stock valued at $19,471,000 after buying an additional 6,988 shares during the last quarter. American Century Companies Inc. raised its position in shares of First Commonwealth Financial by 50.9% during the first quarter. American Century Companies Inc. now owns 106,278 shares of the bank’s stock valued at $1,611,000 after buying an additional 35,836 shares during the last quarter. Citigroup Inc. raised its position in shares of First Commonwealth Financial by 11.1% during the first quarter. Citigroup Inc. now owns 84,794 shares of the bank’s stock valued at $1,285,000 after buying an additional 8,464 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of First Commonwealth Financial by 55.4% during the first quarter. MetLife Investment Management LLC now owns 50,415 shares of the bank’s stock valued at $764,000 after buying an additional 17,976 shares during the last quarter. Institutional investors own 69.47% of the company’s stock.

Analysts Set New Price Targets

FCF has been the topic of several research reports. StockNews.com initiated coverage on shares of First Commonwealth Financial in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Janney Montgomery Scott initiated coverage on shares of First Commonwealth Financial in a research report on Thursday, September 29th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Piper Sandler reduced their price target on shares of First Commonwealth Financial to $15.00 in a research report on Wednesday, October 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, First Commonwealth Financial currently has an average rating of “Moderate Buy” and an average price target of $15.90.

First Commonwealth Financial Stock Down 1.1 %

NYSE FCF opened at $13.90 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $14.18 and a two-hundred day moving average of $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 Co. has a 52 week low of $12.76 and a 52 week high of $17.41.

First Commonwealth Financial (NYSE:FCFGet Rating) last issued its earnings results on Tuesday, October 25th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $108.27 million for the quarter, compared to analysts’ expectations of $105.48 million. First Commonwealth Financial had a net margin of 31.21% and a return on equity of 12.01%. On average, analysts predict that First Commonwealth Financial Co. will post 1.42 earnings per share 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.

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

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