KLP Kapitalforvaltning AS Invests $338,000 in First Commonwealth Financial Co. (NYSE:FCF)

KLP Kapitalforvaltning AS acquired a new position in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,000 shares of the bank's stock, valued at approximately $338,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FCF. Wilmington Savings Fund Society FSB acquired a new position in shares of First Commonwealth Financial during the 3rd quarter worth about $46,000. Smartleaf Asset Management LLC increased its stake in First Commonwealth Financial by 173.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank's stock worth $57,000 after buying an additional 2,154 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of First Commonwealth Financial by 56.8% during the fourth quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank's stock valued at $57,000 after acquiring an additional 1,227 shares during the last quarter. AlphaQuest LLC lifted its position in shares of First Commonwealth Financial by 69.2% in the fourth quarter. AlphaQuest LLC now owns 4,578 shares of the bank's stock valued at $77,000 after acquiring an additional 1,873 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of First Commonwealth Financial by 61.6% in the fourth quarter. KBC Group NV now owns 5,842 shares of the bank's stock worth $99,000 after acquiring an additional 2,226 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Trading Down 4.3 %

FCF traded down $0.64 during trading hours on Thursday, reaching $14.19. The company's stock had a trading volume of 1,164,234 shares, compared to its average volume of 593,877. The business's 50-day moving average is $15.80 and its 200-day moving average is $16.81. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $1.44 billion, a PE ratio of 10.21 and a beta of 0.72. First Commonwealth Financial Co. has a fifty-two week low of $12.41 and a fifty-two week high of $19.96.

Remove Ads

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its earnings results on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. As a group, equities research analysts predict that First Commonwealth Financial Co. will post 1.45 earnings per share for the current fiscal 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 paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Friday, February 7th. First Commonwealth Financial's dividend payout ratio (DPR) is 37.41%.

Analysts Set New Price Targets

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

First Commonwealth Financial 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.