Wells Fargo & Company MN Buys 11,064 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Wells Fargo & Company MN raised its stake in First Commonwealth Financial Co. (NYSE:FCF) by 17.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,028 shares of the bank’s stock after purchasing an additional 11,064 shares during the period. Wells Fargo & Company MN’s holdings in First Commonwealth Financial were worth $1,269,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in First Commonwealth Financial by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank’s stock valued at $66,947,000 after purchasing an additional 173,817 shares during the period. Franklin Resources Inc. boosted its holdings in First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock valued at $58,601,000 after purchasing an additional 456,119 shares during the period. American Century Companies Inc. boosted its holdings in First Commonwealth Financial by 0.5% in the 4th quarter. American Century Companies Inc. now owns 1,992,712 shares of the bank’s stock valued at $33,717,000 after purchasing an additional 9,588 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of First Commonwealth Financial by 46.6% during the 4th quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank’s stock worth $15,693,000 after acquiring an additional 295,011 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of First Commonwealth Financial by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 557,397 shares of the bank’s stock worth $9,431,000 after acquiring an additional 18,433 shares during the period. 72.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FCF shares. DA Davidson reaffirmed a “buy” rating and set a $21.00 price objective on shares of First Commonwealth Financial in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Stephens restated an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. Finally, StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.58.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock opened at $15.31 on Tuesday. The firm has a fifty day moving average of $15.32 and a two-hundred day moving average of $16.66. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 11.01 and a beta of 0.72. First Commonwealth Financial Co. has a 52 week low of $12.71 and a 52 week high of $19.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.93.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. As a group, equities research analysts predict that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Company Profile

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.