The stock of First Commonwealth Financial (NYSE:FCF) hit a new 52-week high and has $12.84 target or 5.00% above today’s $12.23 share price. The 9 months bullish chart indicates low risk for the $1.11B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $12.84 price target is reached, the company will be worth $55.50 million 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 25,923 shares traded hands. First Commonwealth Financial (NYSE:FCF) has risen 31.64% since April 20, 2016 and is uptrending. It has outperformed by 27.08% 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. $10 is the highest target while $8.50 is the lowest. The $9.67 average target is -20.93% below today’s ($12.23) stock price. First Commonwealth Financial has been the topic of 6 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of First Commonwealth Financial (NYSE:FCF) has “Mkt Perform” rating given on Wednesday, January 13 by Raymond James. On Wednesday, March 9 the stock rating was downgraded by Boenning & Scattergood to “Neutral”. The rating was maintained by Keefe Bruyette & Woods with “Market Perform” on Wednesday, September 21. The stock of First Commonwealth Financial (NYSE:FCF) has “Neutral” rating given on Monday, March 7 by Macquarie Research.
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 increased to 1.4 in 2016 Q2. Its up 0.33, from 1.07 in 2016Q1. The ratio is positive, 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.
Alliancebernstein Ltd Partnership last reported 0.01% of its portfolio in the stock. Credit Suisse Ag accumulated 78,876 shares or 0% of the stock. Blackrock holds 0% of its portfolio in First Commonwealth Financial (NYSE:FCF) for 26,293 shares. First Trust Advsrs Lp has 0% invested in the company for 46,956 shares. Tower Capital Ltd (Trc) reported 1,361 shares or 0% of all its holdings. Advisory Serv Net Limited Company reported 7,658 shares or 0.02% of all its holdings. Envestnet Asset Mngmt last reported 7,888 shares in the company. Spot Trading Limited Liability Co has 0% invested in the company for 232 shares. Nationwide Fund Advisors has 187,341 shares for 0.01% of their US portfolio. First Tru Company holds 0.04% or 31,395 shares in its portfolio. Deutsche Natl Bank Ag holds 0% or 253,220 shares in its portfolio. Brandywine Global Invest Mgmt Lc, a Pennsylvania-based fund reported 380,059 shares. Bnp Paribas Arbitrage reported 27,695 shares or 0% of all its holdings. Guggenheim Cap Lc last reported 0% of its portfolio in the stock. Pub Sector Pension Board accumulated 61,391 shares or 0.01% of the stock.
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 Streetinsider.com with their article: “First Commonwealth Financial (FCF) Unit to Acquire FirstMerit Bank Branches” published on July 27, 2016, Seekingalpha.com published: “First Commonwealth Financial: The Small Bank That Just Keeps Going” on November 01, 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’s (FCF) CEO Mike Price on Q3 2016 Results …” with publication date: October 26, 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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