Franklin Resources Inc. Sells 344,286 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Franklin Resources Inc. reduced its stake in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 10.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,090,716 shares of the bank's stock after selling 344,286 shares during the period. Franklin Resources Inc. owned about 3.04% of First Commonwealth Financial worth $52,295,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in First Commonwealth Financial in the 4th quarter valued at $2,147,000. Proficio Capital Partners LLC purchased a new position in First Commonwealth Financial during the fourth quarter worth about $304,000. Barclays PLC grew its position in First Commonwealth Financial by 121.8% in the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank's stock worth $3,631,000 after purchasing an additional 116,295 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of First Commonwealth Financial by 64.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,892 shares of the bank's stock worth $598,000 after buying an additional 13,643 shares in the last quarter. Finally, Amundi boosted its stake in shares of First Commonwealth Financial by 187.4% in the 4th quarter. Amundi now owns 51,631 shares of the bank's stock worth $847,000 after buying an additional 33,666 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Price Performance

Shares of First Commonwealth Financial stock traded down $0.63 on Thursday, reaching $14.20. The stock had a trading volume of 195,456 shares, compared to its average volume of 589,756. The business's 50 day moving average is $15.85 and its two-hundred day moving average is $16.83. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. First Commonwealth Financial Co. has a 1 year low of $12.41 and a 1 year high of $19.96. The company has a market cap of $1.45 billion, a P/E ratio of 10.23 and a beta of 0.72.

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First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. As a group, research analysts anticipate that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 7th. This represents a $0.52 dividend on an annualized basis and a yield of 3.66%. First Commonwealth Financial's payout ratio is 37.41%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FCF shares. DA Davidson reiterated a "buy" rating and set a $21.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 30th. StockNews.com downgraded shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Friday, April 4th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $20.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 30th. Finally, Stephens reiterated an "overweight" rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, First Commonwealth Financial currently has a consensus rating of "Hold" and an average target price of $19.58.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health 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.