Parametric Portfolio Associates LLC Increases Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Parametric Portfolio Associates LLC grew its stake in shares of First Commonwealth Financial Co. (NYSE:FCF) by 11.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,225,585 shares of the bank’s stock after buying an additional 122,864 shares during the period. Parametric Portfolio Associates LLC owned 1.28% of First Commonwealth Financial worth $17,244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eaton Vance Management purchased a new stake in shares of First Commonwealth Financial during the 1st quarter valued at $33,000. Berman Capital Advisors LLC boosted its position in First Commonwealth Financial by 46.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 4,153 shares of the bank’s stock worth $58,000 after purchasing an additional 1,309 shares during the period. USA Financial Portformulas Corp purchased a new stake in First Commonwealth Financial during the 2nd quarter worth $60,000. Captrust Financial Advisors boosted its position in First Commonwealth Financial by 3,180.5% during the 1st quarter. Captrust Financial Advisors now owns 6,397 shares of the bank’s stock worth $92,000 after purchasing an additional 6,202 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in First Commonwealth Financial during the 2nd quarter worth $141,000. 68.02% of the stock is owned by institutional investors.

FCF has been the subject of a number of research reports. B. Riley decreased their price target on shares of First Commonwealth Financial from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, August 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of First Commonwealth Financial in a research report on Wednesday, July 28th. Royal Bank of Canada raised shares of First Commonwealth Financial from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $16.00 to $19.00 in a research report on Thursday, October 28th. Boenning Scattergood reiterated a “neutral” rating on shares of First Commonwealth Financial in a report on Thursday, October 28th. Finally, Zacks Investment Research upgraded shares of First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, First Commonwealth Financial presently has an average rating of “Buy” and an average target price of $17.13.

Shares of FCF stock opened at $16.12 on Thursday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 11.94 and a beta of 1.13. The company’s fifty day moving average price is $14.60 and its two-hundred day moving average price is $14.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.87 and a quick ratio of 0.87. First Commonwealth Financial Co. has a 12 month low of $9.64 and a 12 month high of $16.28.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Monday, October 25th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $97.89 million for the quarter, compared to analyst estimates of $94.52 million. First Commonwealth Financial had a net margin of 32.22% and a return on equity of 11.87%. During the same quarter in the prior year, the business posted $0.24 EPS. On average, sell-side analysts anticipate that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Friday, November 5th were paid a $0.115 dividend. The ex-dividend date was Thursday, November 4th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.85%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 34.07%.

First Commonwealth Financial Profile

First Commonwealth Financial Corp. is a financial holding company, which engages in the provision of a diversified array of consumer and commercial banking services through its bank subsidiary, First Commonwealth Bank (FCB). It also offers trust and wealth management services and offer insurance products through FCB and its other operating subsidiaries.

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

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