Raymond James Financial Inc. Purchases New Shares in First Commonwealth Financial Co. (NYSE:FCF)

Raymond James Financial Inc. acquired a new stake in First Commonwealth Financial Co. (NYSE:FCF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of First Commonwealth Financial by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank's stock valued at $66,947,000 after acquiring an additional 173,817 shares during the last quarter. Franklin Resources Inc. increased its holdings in First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank's stock valued at $58,601,000 after purchasing an additional 456,119 shares during the last quarter. Principal Financial Group Inc. increased its holdings in First Commonwealth Financial by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 557,397 shares of the bank's stock valued at $9,431,000 after purchasing an additional 18,433 shares during the last quarter. Nordea Investment Management AB lifted its stake in First Commonwealth Financial by 2.9% during the fourth 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 lifted its stake in First Commonwealth Financial by 121.8% during the third 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 hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

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

First Commonwealth Financial Stock Up 0.5 %

FCF stock traded up $0.08 during trading on Wednesday, hitting $15.63. 410,720 shares of the company's stock were exchanged, compared to its average volume of 570,392. The business has a 50-day moving average price of $16.17 and a two-hundred day moving average price of $16.97. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 11.24 and a beta of 0.84. First Commonwealth Financial Co. has a 52-week low of $12.41 and a 52-week high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its earnings results 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%. As a group, equities research analysts expect that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Friday, February 7th. First Commonwealth Financial's dividend payout ratio (DPR) is currently 37.41%.

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.