Proficio Capital Partners LLC Takes Position in First Commonwealth Financial Co. (NYSE:FCF)

Proficio Capital Partners LLC purchased a new stake in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 17,953 shares of the bank's stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank's stock worth $64,876,000 after purchasing an additional 105,116 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of First Commonwealth Financial by 15.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank's stock worth $58,601,000 after purchasing an additional 456,119 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of First Commonwealth Financial by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 557,397 shares of the bank's stock worth $9,431,000 after purchasing an additional 18,433 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of First Commonwealth Financial by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 213,437 shares of the bank's stock worth $3,611,000 after purchasing an additional 6,091 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of First Commonwealth Financial by 121.8% during 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. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Stock Down 0.7 %

Shares of NYSE FCF opened at $15.37 on Wednesday. First Commonwealth Financial Co. has a 52-week low of $12.41 and a 52-week high of $19.96. The firm has a fifty day moving average of $16.41 and a 200-day moving average of $17.09. The stock has a market capitalization of $1.57 billion, a PE ratio of 11.06 and a beta of 0.84. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.19.

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First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) 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%. On average, analysts anticipate that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.52 dividend on an annualized basis and a yield of 3.38%. First Commonwealth Financial's dividend payout ratio (DPR) is 37.41%.

Analyst Upgrades and Downgrades

FCF has been the subject of several recent analyst reports. Stephens reaffirmed an "overweight" rating and issued a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com raised shares of First Commonwealth Financial from a "sell" rating to a "hold" rating in a research note on Friday, February 14th. DA Davidson reaffirmed a "buy" rating and issued a $21.00 target price on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $20.00 target price on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.58.

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.

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