Raymond James Financial Inc. Takes $1.68 Million Position in First Commonwealth Financial Co. (NYSE:FCF)

Raymond James Financial Inc. 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 and Exchange Commission (SEC). The firm purchased 99,317 shares of the bank's stock, valued at approximately $1,680,000. Raymond James Financial Inc. owned 0.10% of First Commonwealth Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of FCF. Sanctuary Advisors LLC increased its stake in First Commonwealth Financial by 4.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,623 shares of the bank's stock valued at $268,000 after buying an additional 633 shares during the period. Aigen Investment Management LP boosted its holdings in shares of First Commonwealth Financial by 6.0% in the fourth quarter. Aigen Investment Management LP now owns 17,398 shares of the bank's stock valued at $294,000 after acquiring an additional 983 shares in the last quarter. Jones Financial Companies Lllp increased its stake 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 period. Smartleaf Asset Management LLC raised its holdings in First Commonwealth Financial by 173.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank's stock worth $57,000 after purchasing an additional 2,154 shares in the last quarter. Finally, KBC Group NV lifted its position in 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 purchasing an additional 2,226 shares during the period. 72.58% of the stock is currently owned by institutional investors.

First Commonwealth Financial Trading Down 2.6 %

Shares of NYSE:FCF traded down $0.38 during midday trading on Friday, reaching $14.09. The company had a trading volume of 1,228,998 shares, compared to its average volume of 576,677. The company has a fifty day simple moving average of $16.07 and a two-hundred day simple moving average of $16.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 10.14 and a beta of 0.84. First Commonwealth Financial Co. has a 1-year low of $12.41 and a 1-year high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its earnings results 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%. Research analysts predict that First Commonwealth Financial Co. will post 1.45 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed 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. This represents a $0.52 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Friday, February 7th. First Commonwealth Financial's payout ratio is 37.41%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FCF. Royal Bank of Canada reiterated 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 reaffirmed a "buy" rating and set a $21.00 target price 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. Finally, Stephens restated an "overweight" rating and set a $21.50 price objective on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.