Fuller & Thaler Asset Management Inc. Trims Stake in First Commonwealth Financial Co. (NYSE:FCF)

Fuller & Thaler Asset Management Inc. cut its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,161,600 shares of the bank’s stock after selling 28,526 shares during the quarter. Fuller & Thaler Asset Management Inc.’s holdings in First Commonwealth Financial were worth $36,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in First Commonwealth Financial by 15.3% during the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after purchasing an additional 456,119 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in First Commonwealth Financial by 46.6% during the 4th quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank’s stock worth $15,693,000 after acquiring an additional 295,011 shares in the last quarter. Norges Bank purchased a new position in First Commonwealth Financial during the 4th quarter valued at about $4,536,000. First Trust Advisors LP grew its position in First Commonwealth Financial by 19.9% in the 4th quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank’s stock valued at $21,461,000 after acquiring an additional 210,876 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in First Commonwealth Financial by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank’s stock worth $66,947,000 after purchasing an additional 173,817 shares during the period. 72.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCF has been the subject of several recent research reports. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Stephens restated an “overweight” rating and issued a $21.50 price target on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. DA Davidson reaffirmed a “buy” rating and set a $21.00 price objective on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of First Commonwealth Financial in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, First Commonwealth Financial has an average rating of “Hold” and an average target price of $19.58.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock opened at $15.25 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $15.37 and a 200-day simple moving average of $16.67. The stock has a market cap of $1.55 billion, a P/E ratio of 10.97 and a beta of 0.72. First Commonwealth Financial Co. has a 12-month low of $12.71 and a 12-month high of $19.96.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. Equities analysts expect that First Commonwealth Financial Co. will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Friday, February 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.41%.

First Commonwealth Financial Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health 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.