Rhumbline Advisers Acquires 8,422 Shares of First Commonwealth Financial Corporation (FCF)

Rhumbline Advisers boosted its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,983 shares of the bank’s stock after purchasing an additional 8,422 shares during the quarter. Rhumbline Advisers owned about 0.21% of First Commonwealth Financial Corporation worth $2,587,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in First Commonwealth Financial Corporation by 0.6% during the second quarter. IFP Advisors Inc now owns 20,524 shares of the bank’s stock valued at $260,000 after purchasing an additional 120 shares in the last quarter. State of Alaska Department of Revenue raised its stake in First Commonwealth Financial Corporation by 2.0% during the first quarter. State of Alaska Department of Revenue now owns 9,820 shares of the bank’s stock valued at $130,000 after purchasing an additional 190 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in First Commonwealth Financial Corporation by 1.3% during the first quarter. Municipal Employees Retirement System of Michigan now owns 20,330 shares of the bank’s stock valued at $270,000 after purchasing an additional 260 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in First Commonwealth Financial Corporation by 1.4% during the first quarter. Louisiana State Employees Retirement System now owns 36,300 shares of the bank’s stock valued at $481,000 after purchasing an additional 500 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in First Commonwealth Financial Corporation by 1.1% during the first quarter. Arizona State Retirement System now owns 46,338 shares of the bank’s stock valued at $614,000 after purchasing an additional 500 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

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First Commonwealth Financial Corporation (FCF) opened at 12.52 on Tuesday. The company has a 50-day moving average of $12.71 and a 200 day moving average of $12.91. The stock has a market cap of $1.22 billion, a P/E ratio of 17.68 and a beta of 0.99. First Commonwealth Financial Corporation has a 1-year low of $9.62 and a 1-year high of $14.61.

First Commonwealth Financial Corporation (NYSE:FCF) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. The company had revenue of $76.72 million for the quarter, compared to analyst estimates of $76.82 million. First Commonwealth Financial Corporation had a net margin of 21.61% and a return on equity of 9.45%. During the same period in the prior year, the firm earned $0.14 earnings per share. Analysts predict that First Commonwealth Financial Corporation will post $0.80 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.56%. First Commonwealth Financial Corporation’s dividend payout ratio (DPR) is presently 45.07%.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of First Commonwealth Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub downgraded shares of First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 target price on shares of First Commonwealth Financial Corporation in a research note on Thursday, August 10th. Canaccord Genuity raised shares of First Commonwealth Financial Corporation from a “speculative buy” rating to a “buy” rating and set a C$4.25 target price on the stock in a research note on Thursday, June 1st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $14.00 target price on shares of First Commonwealth Financial Corporation in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. First Commonwealth Financial Corporation presently has an average rating of “Buy” and an average price target of $9.82.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

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

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