Price Change to Note: Is Buying 52-Week Stock Like First Commonwealth Financial a Winning Strategy?

Price Change to Note: Is Buying 52 Week Stock Like First Commonwealth Financial a Winning Strategy?

The stock of First Commonwealth Financial (NYSE:FCF) hit a new 52-week high and has $13.09 target or 25.00% above today’s $10.47 share price. The 8 months bullish chart indicates low risk for the $935.44 million company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $13.09 price target is reached, the company will be worth $233.86 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. The stock increased 3.51% or $0.36 during the last trading session, hitting $10.47. About 709,793 shares traded hands or 156.66% up from the average. First Commonwealth Financial (NYSE:FCF) has risen 21.20% since April 7, 2016 and is uptrending. It has outperformed by 16.42% 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 “Market Perform” rating on Wednesday, September 21 by Keefe Bruyette & Woods. The stock has “Mkt Perform” rating given by Raymond James on Wednesday, January 13. The firm earned “Neutral” rating on Monday, March 7 by Macquarie Research. The stock of First Commonwealth Financial (NYSE:FCF) has “Neutral” rating given on Wednesday, March 9 by Boenning & Scattergood.

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 Q2 2016. Its down 0.32, from 1.39 in 2016Q1. The ratio dropped, 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.
Blackrock Institutional Tru Na holds 0% or 2.47M shares in its portfolio. Mckinley Carter Wealth Services Incorporated owns 12,500 shares or 0.06% of their US portfolio. Fmr Limited Co last reported 0% of its portfolio in the stock. Kbc Grp Incorporated Nv has invested 0% of its portfolio in First Commonwealth Financial (NYSE:FCF). Amalgamated Commercial Bank holds 0.01% of its portfolio in First Commonwealth Financial (NYSE:FCF) for 10,546 shares. Somerset Trust holds 500 shares or 0% of its portfolio. Sei Invs last reported 0% of its portfolio in the stock. Federated Pa has 0% invested in the company for 83 shares. Raymond James & Associate holds 0% of its portfolio in First Commonwealth Financial (NYSE:FCF) for 26,353 shares. Alliancebernstein Limited Partnership holds 0.01% of its portfolio in First Commonwealth Financial (NYSE:FCF) for 1.54M shares. Teachers Advsrs reported 893,531 shares or 0.01% of all its holdings. Lsv Asset reported 1.38 million shares or 0.03% of all its holdings. Texas Permanent School Fund has 0.01% invested in the company for 67,845 shares. Profund Advsrs Ltd has 17,912 shares for 0.01% of their US portfolio. California Employees Retirement Systems holds 328,076 shares or 0% of 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 Nasdaq.com with their article: “Ex-Dividend Reminder: Synchrony Financial, First Commonwealth Financial and …” published on November 01, 2016, Reuters.com published: “BRIEF-First Commonwealth Financial Corp expands its Columbus, Ohio Footpri…” on October 03, 2016. More interesting news about First Commonwealth Financial (NYSE:FCF) were released by: Seekingalpha.com and their article: “First Commonwealth Financial’s (FCF) CEO Mike Price on Q3 2016 Results …” published on October 26, 2016 as well as Streetinsider.com‘s news article titled: “First Commonwealth Financial (FCF) Unit to Acquire FirstMerit Bank Branches” with publication date: July 27, 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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