State of Tennessee Department of Treasury Has $1.01 Million Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

State of Tennessee Department of Treasury cut its stake in First Commonwealth Financial Co. (NYSE:FCF) by 30.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,497 shares of the bank’s stock after selling 25,692 shares during the quarter. State of Tennessee Department of Treasury owned 0.06% of First Commonwealth Financial worth $1,007,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MetLife Investment Management LLC raised its stake in shares of First Commonwealth Financial by 7.6% in the fourth quarter. MetLife Investment Management LLC now owns 61,236 shares of the bank’s stock worth $1,036,000 after purchasing an additional 4,349 shares during the last quarter. First Trust Advisors LP raised its stake in shares of First Commonwealth Financial by 19.9% in the fourth quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank’s stock worth $21,461,000 after purchasing an additional 210,876 shares during the last quarter. First Commonwealth Financial Corp PA raised its stake in shares of First Commonwealth Financial by 0.5% in the fourth quarter. First Commonwealth Financial Corp PA now owns 930,673 shares of the bank’s stock worth $15,747,000 after purchasing an additional 5,055 shares during the last quarter. Barclays PLC raised its stake in shares of First Commonwealth Financial by 2.4% in the fourth quarter. Barclays PLC now owns 216,965 shares of the bank’s stock worth $3,671,000 after purchasing an additional 5,168 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of First Commonwealth Financial by 815.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank’s stock worth $54,000 after purchasing an additional 2,839 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FCF has been the subject of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and set a $21.50 price target on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. DA Davidson reaffirmed a “buy” rating and set a $21.00 price target on shares of First Commonwealth Financial in a research report on Thursday, January 30th. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada decreased their price target on First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, First Commonwealth Financial presently has an average rating of “Hold” and an average target price of $19.25.

First Commonwealth Financial Price Performance

Shares of NYSE FCF opened at $15.55 on Friday. The stock has a fifty day simple moving average of $15.28 and a two-hundred day simple moving average of $16.63. First Commonwealth Financial Co. has a 1-year low of $12.71 and a 1-year high of $19.96. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 11.18 and a beta of 0.72. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. The business had revenue of $118.51 million during the quarter, compared to analyst estimates of $117.70 million. During the same period in the prior year, the company earned $0.37 earnings per share. First Commonwealth Financial’s revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that First Commonwealth Financial Co. will post 1.45 earnings per share for the current year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 3.47%. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, May 9th. First Commonwealth Financial’s dividend payout ratio is 40.30%.

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.