Norges Bank Purchases New Shares in First Commonwealth Financial Co. (NYSE:FCF)

Norges Bank purchased a new stake in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 268,089 shares of the bank's stock, valued at approximately $4,536,000. Norges Bank owned approximately 0.26% of First Commonwealth Financial at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FCF. JPMorgan Chase & Co. boosted its position in First Commonwealth Financial by 46.6% during the 4th quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank's stock worth $15,693,000 after buying an additional 295,011 shares during the period. Crowley Wealth Management Inc. bought a new position in shares of First Commonwealth Financial during the fourth quarter valued at $42,000. LPL Financial LLC lifted its holdings in shares of First Commonwealth Financial by 10.7% during the fourth quarter. LPL Financial LLC now owns 32,879 shares of the bank's stock worth $556,000 after purchasing an additional 3,170 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of First Commonwealth Financial in the fourth quarter worth $338,000. Finally, Sei Investments Co. increased its holdings in First Commonwealth Financial by 3.9% in the fourth quarter. Sei Investments Co. now owns 23,857 shares of the bank's stock valued at $404,000 after purchasing an additional 895 shares during the period. 72.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FCF. StockNews.com lowered First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. DA Davidson reiterated a "buy" rating and issued a $21.00 target price on shares of First Commonwealth Financial in a report on Thursday, January 30th. Royal Bank of Canada restated an "outperform" rating and set a $20.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 30th. Finally, Stephens reaffirmed 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 analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.58.

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First Commonwealth Financial Trading Up 1.8 %

Shares of NYSE:FCF traded up $0.26 during mid-day trading on Tuesday, hitting $14.38. The company had a trading volume of 93,954 shares, compared to its average volume of 785,076. The company has a market capitalization of $1.46 billion, a PE ratio of 10.34 and a beta of 0.72. First Commonwealth Financial Co. has a one year low of $12.41 and a one year high of $19.96. The firm has a fifty day moving average price of $15.69 and a 200 day moving average price of $16.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share for the quarter, missing the consensus estimate 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, research analysts forecast that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.52 annualized dividend and a yield of 3.62%. First Commonwealth Financial's payout ratio is currently 37.41%.

About First Commonwealth Financial

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.