Alps Advisors Inc. raised its position in First Commonwealth Financial (NYSE:FCF) by 6.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,207 shares of the bank’s stock after buying an additional 1,942 shares during the quarter. Alps Advisors Inc.’s holdings in First Commonwealth Financial were worth $381,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in First Commonwealth Financial by 0.5% in the 4th quarter. BlackRock Inc. now owns 14,701,789 shares of the bank’s stock valued at $177,598,000 after buying an additional 69,122 shares during the period. Vanguard Group Inc. increased its stake in First Commonwealth Financial by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,401,264 shares of the bank’s stock valued at $167,876,000 after buying an additional 240,823 shares during the period. Victory Capital Management Inc. increased its stake in First Commonwealth Financial by 9.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,035,057 shares of the bank’s stock valued at $24,583,000 after buying an additional 175,012 shares during the period. Bank of New York Mellon Corp increased its stake in First Commonwealth Financial by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,456,527 shares of the bank’s stock valued at $23,508,000 after buying an additional 45,827 shares during the period. Finally, Norges Bank acquired a new position in First Commonwealth Financial in the 4th quarter valued at $15,566,000. 68.31% of the stock is currently owned by institutional investors.
NYSE:FCF opened at $13.42 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.89 and a current ratio of 0.89. First Commonwealth Financial has a fifty-two week low of $11.33 and a fifty-two week high of $17.91. The firm has a market cap of $1.32 billion, a PE ratio of 12.20, a P/E/G ratio of 1.55 and a beta of 1.17.
The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, May 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.98%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 36.36%.
Several brokerages have issued reports on FCF. Zacks Investment Research cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. ValuEngine cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Finally, Boenning Scattergood reissued a “hold” rating on shares of First Commonwealth Financial in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. First Commonwealth Financial presently has an average rating of “Hold” and an average target price of $16.20.
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About First Commonwealth Financial
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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