Everence Capital Management Inc. Takes $160,000 Position in First Commonwealth Financial (FCF)

Everence Capital Management Inc. bought a new position in First Commonwealth Financial (NYSE:FCF) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,660 shares of the bank’s stock, valued at approximately $160,000.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. raised its position in First Commonwealth Financial by 0.5% in the 4th quarter. BlackRock Inc. now owns 14,701,789 shares of the bank’s stock worth $177,598,000 after buying an additional 69,122 shares during the last quarter. Vanguard Group Inc. raised its position 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 worth $167,876,000 after buying an additional 240,823 shares during the last quarter. Victory Capital Management Inc. raised its position 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 worth $24,583,000 after buying an additional 175,012 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 worth $23,508,000 after buying an additional 45,827 shares during the last quarter. Finally, Norges Bank purchased a new position in First Commonwealth Financial in the 4th quarter worth about $15,566,000. 68.31% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of First Commonwealth Financial in a research report on Wednesday, April 24th. ValuEngine raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research raised shares of First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Thursday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $16.20.

NYSE FCF opened at $13.42 on Wednesday. First Commonwealth Financial has a 52 week low of $11.33 and a 52 week high of $17.91. The stock has a market cap of $1.32 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.17. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). First Commonwealth Financial had a net margin of 27.84% and a return on equity of 11.25%. The business had revenue of $84.80 million for the quarter, compared to analysts’ expectations of $84.91 million. During the same period in the previous year, the company earned $0.24 EPS. First Commonwealth Financial’s revenue for the quarter was up 6.8% compared to the same quarter last year. Sell-side analysts forecast that First Commonwealth Financial will post 1.09 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Thursday, May 2nd. First Commonwealth Financial’s payout ratio is currently 36.36%.

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First Commonwealth Financial Company Profile

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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Institutional Ownership by Quarter for First Commonwealth Financial (NYSE:FCF)

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