First Commonwealth Financial (FCF) Holdings Lifted by First Trust Advisors LP

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First Trust Advisors LP boosted its holdings in First Commonwealth Financial (NYSE:FCF) by 49.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,031 shares of the bank’s stock after purchasing an additional 64,788 shares during the quarter. First Trust Advisors LP’s holdings in First Commonwealth Financial were worth $2,380,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FCF. Meeder Asset Management Inc. boosted its position in shares of First Commonwealth Financial by 243.7% during the 4th quarter. Meeder Asset Management Inc. now owns 2,275 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,613 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in shares of First Commonwealth Financial during the 4th quarter valued at approximately $38,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of First Commonwealth Financial by 62.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,177 shares of the bank’s stock valued at $87,000 after acquiring an additional 2,751 shares during the last quarter. West Chester Capital Advisors Inc. boosted its position in shares of First Commonwealth Financial by 7.7% during the 4th quarter. West Chester Capital Advisors Inc. now owns 11,240 shares of the bank’s stock valued at $136,000 after acquiring an additional 800 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of First Commonwealth Financial by 12.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 11,617 shares of the bank’s stock valued at $140,000 after acquiring an additional 1,292 shares during the last quarter. Institutional investors and hedge funds own 66.39% of the company’s stock.

NYSE:FCF opened at $13.48 on Monday. First Commonwealth Financial has a fifty-two week low of $11.33 and a fifty-two week high of $17.91. The firm has a market cap of $1.32 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.51 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.88 and a current ratio of 0.88.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, January 29th. The bank reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. First Commonwealth Financial had a return on equity of 11.43% and a net margin of 28.22%. The company had revenue of $85.58 million for the quarter, compared to analyst estimates of $84.90 million. During the same quarter in the prior year, the firm posted $0.21 EPS. Sell-side analysts forecast that First Commonwealth Financial will post 1.1 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.97%. The ex-dividend date was Thursday, February 7th. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.09. First Commonwealth Financial’s dividend payout ratio is presently 36.36%.

In related news, Director Luke A. Latimer purchased 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 18th. The shares were bought at an average price of $12.24 per share, for a total transaction of $97,920.00. Following the acquisition, the director now owns 145,918 shares of the company’s stock, valued at approximately $1,786,036.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.42% of the company’s stock.

FCF has been the subject of a number of research reports. Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday, January 31st. Raymond James reiterated a “hold” rating on shares of First Commonwealth Financial in a research report on Tuesday, December 11th. Finally, ValuEngine upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.20.

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About First Commonwealth Financial

First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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.

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Institutional Ownership by Quarter for First Commonwealth Financial (NYSE:FCF)

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