Vanguard Group Inc. Lowers Stock Holdings in First Commonwealth Financial (NYSE:FCF)

Vanguard Group Inc. lowered its holdings in shares of First Commonwealth Financial (NYSE:FCF) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,936,326 shares of the bank’s stock after selling 37,481 shares during the quarter. Vanguard Group […]

Vanguard Group Inc. lowered its holdings in shares of First Commonwealth Financial (NYSE:FCF) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,936,326 shares of the bank’s stock after selling 37,481 shares during the quarter. Vanguard Group Inc. owned approximately 11.14% of First Commonwealth Financial worth $90,553,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. First Citizens Bank & Trust Co. purchased a new position in First Commonwealth Financial during the second quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of First Commonwealth Financial by 97.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,066 shares of the bank’s stock valued at $110,000 after acquiring an additional 5,961 shares in the last quarter. S&T Bank PA purchased a new position in shares of First Commonwealth Financial in the first quarter valued at approximately $121,000. ProShare Advisors LLC purchased a new position in shares of First Commonwealth Financial in the second quarter valued at approximately $123,000. Finally, Advisor Group Holdings Inc. purchased a new position in shares of First Commonwealth Financial in the first quarter valued at approximately $129,000. Institutional investors own 68.74% of the company’s stock.

NYSE:FCF opened at $7.45 on Monday. First Commonwealth Financial has a one year low of $6.77 and a one year high of $14.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market cap of $731.09 million, a PE ratio of 8.98 and a beta of 1.08. The stock has a 50 day moving average price of $8.13 and a 200 day moving average price of $8.35.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, July 28th. The bank reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.15. The company had revenue of $88.86 million during the quarter, compared to analysts’ expectations of $87.56 million. First Commonwealth Financial had a return on equity of 8.02% and a net margin of 20.32%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. As a group, analysts predict that First Commonwealth Financial will post 0.75 earnings per share for the current fiscal year.

FCF has been the topic of several research reports. DA Davidson restated a “neutral” rating on shares of First Commonwealth Financial in a research report on Friday, July 31st. Boenning Scattergood initiated coverage on First Commonwealth Financial in a research report on Thursday. They issued an “outperform” rating and a $10.00 target price on the stock. ValuEngine downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Raymond James restated a “hold” rating on shares of First Commonwealth Financial in a research report on Thursday, September 10th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $9.00 target price on shares of First Commonwealth Financial in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $9.29.

First Commonwealth Financial Profile

First Commonwealth Financial Corporation, through its subsidiaries, 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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