Louisiana State Employees Retirement System boosted its position in First Commonwealth Financial (NYSE:FCF) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,300 shares of the bank’s stock after buying an additional 500 shares during the period. Louisiana State Employees Retirement System’s holdings in First Commonwealth Financial were worth $481,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of FCF. BlackRock Inc. increased its position in First Commonwealth Financial by 2.7% in the third quarter. BlackRock Inc. now owns 27,014 shares of the bank’s stock valued at $272,000 after buying an additional 721 shares in the last quarter. BlackRock Fund Advisors increased its position in First Commonwealth Financial by 9.8% in the third quarter. BlackRock Fund Advisors now owns 6,195,357 shares of the bank’s stock valued at $62,511,000 after buying an additional 553,542 shares in the last quarter. Rhumbline Advisers increased its position in First Commonwealth Financial by 4.3% in the third quarter. Rhumbline Advisers now owns 151,599 shares of the bank’s stock valued at $1,530,000 after buying an additional 6,225 shares in the last quarter. Citadel Advisors LLC increased its position in First Commonwealth Financial by 162.9% in the third quarter. Citadel Advisors LLC now owns 32,005 shares of the bank’s stock valued at $323,000 after buying an additional 19,832 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in First Commonwealth Financial during the fourth quarter valued at approximately $6,803,000. Institutional investors and hedge funds own 62.05% of the company’s stock.
First Commonwealth Financial (FCF) traded up 2.32% during midday trading on Thursday, reaching $12.77. 868,017 shares of the company traded hands. The firm has a 50-day moving average price of $12.74 and a 200-day moving average price of $13.37. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 18.01 and a beta of 0.96. First Commonwealth Financial has a one year low of $8.46 and a one year high of $14.61.
First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, April 25th. The bank reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $68.76 million during the quarter, compared to analyst estimates of $69.45 million. First Commonwealth Financial had a return on equity of 8.27% and a net margin of 21.11%. During the same quarter in the previous year, the firm earned $0.14 EPS. Equities analysts predict that First Commonwealth Financial will post $0.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Friday, May 5th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Wednesday, May 3rd. First Commonwealth Financial’s payout ratio is presently 47.76%.
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A number of equities research analysts have recently issued reports on the stock. Raymond James Financial, Inc. reissued an “outperform” rating and issued a C$4.50 target price on shares of First Commonwealth Financial in a research report on Wednesday, March 1st. Zacks Investment Research cut shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 14th. Canaccord Genuity cut shares of First Commonwealth Financial from a “buy” rating to a “speculative buy” rating and reduced their target price for the company from C$4.50 to C$4.25 in a research report on Monday, May 8th. Finally, FBR & Co reissued a “hold” rating on shares of First Commonwealth Financial in a research report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. First Commonwealth Financial presently has a consensus rating of “Buy” and an average price target of $8.67.
In other First Commonwealth Financial news, Director Stephen Reid purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, April 18th. The stock was purchased at an average price of $3.36 per share, for a total transaction of $100,800.00. Also, Director Bart E. Johnson purchased 3,267 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were acquired at an average price of $12.88 per share, with a total value of $42,078.96. Following the transaction, the director now owns 52,220 shares in the company, valued at approximately $672,593.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 98,270 shares of company stock valued at $360,774 in the last ninety days. Insiders own 1.58% of the company’s stock.
First Commonwealth Financial Company Profile
First Commonwealth Financial Corporation 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 Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.
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