Today’s Price Action: What’s Next for First Commonwealth Financial After Reaching 52-Week High?

Today's Price Action: What's Next for First Commonwealth Financial After Reaching 52 Week High?

The stock of First Commonwealth Financial (NYSE:FCF) hit a new 52-week high and has $18.03 target or 52.00% above today’s $11.86 share price. The 6 months bullish chart indicates low risk for the $1.07 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $18.03 price target is reached, the company will be worth $556.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 230,209 shares traded hands. First Commonwealth Financial (NYSE:FCF) has risen 29.01% since April 15, 2016 and is uptrending. It has outperformed by 24.39% the S&P500.

First Commonwealth Financial (NYSE:FCF) Ratings Coverage

Out of 5 analysts covering First Commonwealth Financial (NYSE:FCF), 0 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 0 are positive. First Commonwealth Financial has been the topic of 6 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Wednesday, March 9 by Boenning & Scattergood. The company was maintained on Monday, March 7 by Macquarie Research. The company was initiated on Wednesday, January 13 by Raymond James. The rating was maintained by Keefe Bruyette & Woods with “Market Perform” on Wednesday, September 21.

According to Zacks Investment Research, “First Commonwealth Financial Corporation is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended. The Corporation operates two chartered banks, First Commonwealth Bank and Southwest Bank. Personal financial planning and other financial services and insurance products are also provided through First Commonwealth Trust Company and First Commonwealth Insurance Agency. The Corporation also operates through Commonwealth Systems Corporation, a data processing subsidiary.”

Insitutional Activity: The institutional sentiment decreased to 1.07 in 2016 Q2. Its down 0.32, from 1.39 in 2016Q1. The ratio is negative, as 8 funds sold all First Commonwealth Financial shares owned while 36 reduced positions. 8 funds bought stakes while 39 increased positions. They now own 52.95 million shares or 1.20% less from 53.60 million shares in 2016Q1.
Bridgeway Cap Mgmt accumulated 279,500 shares or 0.04% of the stock. Bnp Paribas Arbitrage holds 0% or 27,695 shares in its portfolio. Moreover, Lsv Asset has 0.03% invested in First Commonwealth Financial (NYSE:FCF) for 1.38M shares. Ls Inv Advsr Limited Liability Co owns 3,063 shares or 0% of their US portfolio. Teachers Advsrs holds 0.01% of its portfolio in First Commonwealth Financial (NYSE:FCF) for 893,531 shares. The California-based Wells Fargo And Mn has invested 0% in First Commonwealth Financial (NYSE:FCF). Partners Ltd Limited Liability Company last reported 33,400 shares in the company. Parametric Port Assoc Limited Liability Corp holds 0.01% or 833,468 shares in its portfolio. Ny State Common Retirement Fund has 84,200 shares for 0% of their US portfolio. The New York-based Alliancebernstein Limited Partnership has invested 0.01% in First Commonwealth Financial (NYSE:FCF). Moreover, Teachers Retirement Of The State Of Kentucky has 0% invested in First Commonwealth Financial (NYSE:FCF) for 25,200 shares. Manufacturers Life The has 0% invested in the company for 59,740 shares. Blackrock Investment Ltd Llc, a New Jersey-based fund reported 405,593 shares. Nationwide Fund Advisors has 187,341 shares for 0.01% of their US portfolio. Kbc Group Inc Nv holds 0% or 29,630 shares in its portfolio.

More notable recent First Commonwealth Financial (NYSE:FCF) news were published by: Bizjournals.com which released: “First Commonwealth buying Ohio bank for $106M” on October 03, 2016, also Reuters.com with their article: “BRIEF-First Commonwealth Financial Corp expands its Columbus, Ohio Footpri…” published on October 03, 2016, Streetinsider.com published: “First Commonwealth Financial (FCF) Unit to Acquire FirstMerit Bank Branches” on July 27, 2016. More interesting news about First Commonwealth Financial (NYSE:FCF) were released by: Nasdaq.com and their article: “Ex-Dividend Reminder: Synchrony Financial, First Commonwealth Financial and …” published on November 01, 2016 as well as Seekingalpha.com‘s news article titled: “First Commonwealth Financial: The Small Bank That Just Keeps Going” with publication date: November 01, 2016.

FCF Company Profile

First Commonwealth Financial Corporation, incorporated on November 15, 1982, is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Firm also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries. The Bank is a Pennsylvania bank and trust company. The Bank operates approximately 110 community banking offices throughout western and central Pennsylvania, over four community banking offices in Central Ohio and loan production offices in Akron and Cleveland, Ohio. The Bank also operates a network of approximately 110 automated teller machines (ATMs) at various branch offices and offsite locations.

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