First Commonwealth Financial Corporation (FCF) Becoming More Attractive for Investors


First Commonwealth Financial Corporation’s recent filing unveils that its Director CHARLEY RAY T acquired Company’s shares for reported $50115.0 on Mar 17. In the deal valued at $12.85 per share,3,900 shares were bought. As a result of this transaction, CHARLEY RAY T now holds 325,074 shares worth roughly $ 4.32 million.

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Then, CHARLEY RAY T bought 8,000 shares, generating $104,240 in total proceeds. Upon buying the shares at $13.03, the Director now owns 321,174 shares.

Before that, CHARLEY RAY T bought 4,000 shares. First Commonwealth Financial Corporation shares valued at $53,040 were divested by the Director at a price of $13.26 per share. As a result of the transaction, CHARLEY RAY T now holds 313,174 shares, worth roughly $4.17 million.

Stephens upgraded its First Commonwealth Financial Corporation [FCF] rating to an Overweight from a an Equal-weight in a research note published on Friday. PT values the company’s stock at a premium of 5.0 to its Friday closing price.

Price Performance Review of FCF

On Friday, First Commonwealth Financial Corporation [NYSE:FCF] saw its stock jump 1.76% to $13.30. On the same session, the stock had its day’s lowest price of $13.19, but rose to a high of $13.35. Over the last five days, the stock has gained 2.86%. First Commonwealth Financial Corporation shares have fallen nearly -4.80% since the year began. Nevertheless, the stocks have fallen -1.34% over the past one year. While a 52-week high of $16.53 was reached on 02/17/23, a 52-week low of $11.32 was recorded on 05/04/23. SMA at 50 days reached $13.46, while 200 days put it at $13.64. A total of 0.44 million shares were traded, compared to the trading of 0.37 million shares in the previous session.

Levels Of Support And Resistance For FCF Stock

The 24-hour chart illustrates a support level at 13.21, which if violated will result in even more drops to 13.12. On the upside, there is a resistance level at 13.37. A further resistance level may holdings at 13.44. The Relative Strength Index (RSI) on the 14-day chart is 47.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.27%. Stochastics %K at 37.95% indicates the stock is a holding.

How much short interest is there in First Commonwealth Financial Corporation?

A steep rise in short interest was recorded in First Commonwealth Financial Corporation stocks on Aug 14, 2023, dropping by 90000.0 shares to a total of 1.51 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.6 million shares. There was a decline of -5.96%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.98% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.18.

First Commonwealth Financial Corporation [FCF] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 14,115,038 shares, or roughly 13.72% of the outstanding FCF shares. In other words, the investor’s shares have fallen by -95,792 from its previous 13-F filing of 14210830.0. Additionally, The Vanguard Group, Inc. decreased -1.64% of its stake after which the total value it holdings stand at $166,215,952, while Dimensional Fund Advisors LP reduced -0.40% of its stake to hold $93.14 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 123,236 shares of First Commonwealth Financial Corporation, while Charles Schwab Investment Managem bought 255,607 shares. At present, Fuller & Thaler Asset Management, is holding 2,526,718 shares valued at $36.49 million. Geode Capital Management LLC owned 2,025,719 shares of the company at the time of its most recent 13F filing, worth $29.25 million.

According to FactSet, First Commonwealth Financial Corporation’s share price will average $16.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 22.42 percent from its previous closing price of $13.07. Analysts expect First Commonwealth Financial Corporation stock to reach the higher price of $18.00, while the lowest price estimate is $15.00. However, 7 analysts have rated FCF stock as an Overweight in their predictions for 2023.


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