First Commonwealth Financial (FCF) Shares Bought by Arizona State Retirement System

Arizona State Retirement System increased its holdings in First Commonwealth Financial (NYSE:FCF) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,110 shares of the bank’s stock after acquiring an additional 7,517 shares during the period. Arizona State Retirement System’s holdings in First Commonwealth Financial were worth $1,850,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FCF. Lynch & Associates IN increased its position in First Commonwealth Financial by 7.6% in the 4th quarter. Lynch & Associates IN now owns 14,100 shares of the bank’s stock worth $170,000 after purchasing an additional 1,000 shares during the last quarter. Meeder Asset Management Inc. increased its position in First Commonwealth Financial by 243.7% in the 4th quarter. Meeder Asset Management Inc. now owns 2,275 shares of the bank’s stock worth $27,000 after purchasing an additional 1,613 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Commonwealth Financial by 62.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,177 shares of the bank’s stock worth $87,000 after purchasing an additional 2,751 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in First Commonwealth Financial by 4.2% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 102,891 shares of the bank’s stock worth $1,661,000 after purchasing an additional 4,146 shares during the last quarter. Finally, FMR LLC increased its position in First Commonwealth Financial by 0.3% in the 3rd quarter. FMR LLC now owns 1,366,889 shares of the bank’s stock worth $22,062,000 after purchasing an additional 4,689 shares during the last quarter. 70.48% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE FCF opened at $13.69 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.36 billion, a PE ratio of 12.45, a P/E/G ratio of 1.55 and a beta of 1.17. First Commonwealth Financial has a 52 week low of $11.33 and a 52 week high of $17.91.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, January 29th. The bank reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. The business had revenue of $85.58 million for the quarter, compared to analyst estimates of $84.90 million. First Commonwealth Financial had a return on equity of 11.43% and a net margin of 28.22%. During the same quarter in the prior year, the firm posted $0.21 EPS. Research analysts expect that First Commonwealth Financial will post 1.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Friday, February 8th will be issued a dividend of $0.10 per share. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, February 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.92%. First Commonwealth Financial’s dividend payout ratio is currently 36.36%.

First Commonwealth Financial declared that its Board of Directors has approved a share buyback plan on Tuesday, October 23rd that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 1.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

FCF has been the topic of several research reports. Zacks Investment Research lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Raymond James reaffirmed a “hold” rating on shares of First Commonwealth Financial in a research report on Tuesday, December 11th. Sandler O’Neill raised First Commonwealth Financial from a “hold” rating to a “buy” rating in a research report on Thursday, October 25th. Boenning Scattergood raised First Commonwealth Financial from a “neutral” rating to an “outperform” rating and set a $14.00 target price on the stock in a research report on Thursday, October 25th. Finally, B. Riley raised First Commonwealth Financial from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $18.00 to $16.00 in a research report on Thursday, November 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.20.

In related news, Director Luke A. Latimer acquired 8,000 shares of the stock in a transaction dated Tuesday, December 18th. The shares were acquired at an average price of $12.24 per share, with a total value of $97,920.00. Following the acquisition, the director now owns 145,918 shares in the company, valued at approximately $1,786,036.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.42% of the company’s stock.

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First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, 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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