Victory Capital Management Inc. grew its position in First Commonwealth Financial (NYSE:FCF) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,744,340 shares of the bank’s stock after purchasing an additional 131,374 shares during the quarter. Victory Capital Management Inc. owned about 1.79% of First Commonwealth Financial worth $24,647,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its holdings in shares of First Commonwealth Financial by 130.2% during the fourth quarter. Meeder Asset Management Inc. now owns 8,882 shares of the bank’s stock valued at $127,000 after buying an additional 5,023 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Commonwealth Financial during the first quarter valued at $148,000. Xact Kapitalforvaltning AB purchased a new stake in shares of First Commonwealth Financial during the fourth quarter valued at $217,000. Algert Global LLC grew its holdings in shares of First Commonwealth Financial by 88.3% during the fourth quarter. Algert Global LLC now owns 18,850 shares of the bank’s stock valued at $270,000 after buying an additional 8,840 shares during the last quarter. Finally, D.B. Root & Company LLC purchased a new stake in shares of First Commonwealth Financial during the first quarter valued at $397,000. 67.99% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on FCF. Zacks Investment Research raised shares of First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday, April 27th. B. Riley reissued a “hold” rating and set a $16.00 price objective on shares of First Commonwealth Financial in a report on Thursday, January 25th. Boenning Scattergood reissued a “hold” rating on shares of First Commonwealth Financial in a report on Thursday, January 25th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $16.00 price objective on shares of First Commonwealth Financial in a report on Monday, January 29th. Finally, ValuEngine raised shares of First Commonwealth Financial from a “hold” rating to a “buy” rating in a report on Tuesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $12.00.
First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, April 24th. The bank reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $81.73 million during the quarter, compared to the consensus estimate of $79.69 million. First Commonwealth Financial had a net margin of 18.06% and a return on equity of 9.69%. During the same period in the previous year, the firm posted $0.18 earnings per share. equities analysts predict that First Commonwealth Financial will post 1.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 18th. Investors of record on Friday, May 4th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, May 3rd. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 2.29%. First Commonwealth Financial’s payout ratio is currently 43.90%.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, 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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