Laurion Capital Management LP bought a new stake in First Commonwealth Financial (NYSE:FCF) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 38,340 shares of the bank’s stock, valued at approximately $483,000.
A number of other institutional investors have also recently made changes to their positions in FCF. Norges Bank acquired a new stake in First Commonwealth Financial in the 4th quarter valued at approximately $15,566,000. WINTON GROUP Ltd raised its position in First Commonwealth Financial by 2,360.4% in the 4th quarter. WINTON GROUP Ltd now owns 767,973 shares of the bank’s stock valued at $9,277,000 after buying an additional 736,760 shares during the last quarter. Ellis Investment Partners LLC raised its position in First Commonwealth Financial by 1,126.2% in the 1st quarter. Ellis Investment Partners LLC now owns 723,847 shares of the bank’s stock valued at $723,000 after buying an additional 664,816 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in First Commonwealth Financial in the 4th quarter valued at approximately $38,000. Finally, First Commonwealth Financial Corp PA raised its position in First Commonwealth Financial by 68.8% in the 4th quarter. First Commonwealth Financial Corp PA now owns 492,377 shares of the bank’s stock valued at $5,948,000 after buying an additional 200,655 shares during the last quarter. 66.79% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on FCF. Zacks Investment Research lowered First Commonwealth Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Boenning Scattergood reaffirmed a “hold” rating on shares of First Commonwealth Financial in a research report on Wednesday, April 24th. Finally, ValuEngine raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $16.20.
First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). The company had revenue of $84.80 million for the quarter, compared to analyst estimates of $84.91 million. First Commonwealth Financial had a return on equity of 11.25% and a net margin of 27.84%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. Research analysts forecast that First Commonwealth Financial will post 1.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Thursday, May 2nd. First Commonwealth Financial’s dividend payout ratio (DPR) is 36.36%.
First Commonwealth Financial Company Profile
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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