Bank of America Corp DE increased its position in First Commonwealth Financial Corporation (NYSE:FCF) by 47.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 280,600 shares of the bank’s stock after buying an additional 90,488 shares during the period. Bank of America Corp DE’s holdings in First Commonwealth Financial Corporation were worth $3,720,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in First Commonwealth Financial Corporation by 45,299.4% in the first quarter. BlackRock Inc. now owns 10,979,393 shares of the bank’s stock worth $145,588,000 after buying an additional 10,955,209 shares in the last quarter. Vanguard Group Inc. boosted its position in First Commonwealth Financial Corporation by 10.0% in the first quarter. Vanguard Group Inc. now owns 8,687,245 shares of the bank’s stock worth $115,193,000 after buying an additional 792,067 shares in the last quarter. Norges Bank bought a new position in First Commonwealth Financial Corporation during the fourth quarter worth about $9,506,000. Bank of New York Mellon Corp boosted its position in First Commonwealth Financial Corporation by 33.3% in the first quarter. Bank of New York Mellon Corp now owns 1,813,596 shares of the bank’s stock worth $24,049,000 after buying an additional 453,031 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in First Commonwealth Financial Corporation by 148.0% in the first quarter. American Century Companies Inc. now owns 464,273 shares of the bank’s stock worth $6,156,000 after buying an additional 277,066 shares in the last quarter. 60.11% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Corporation (NYSE FCF) traded up 1.33% on Friday, hitting $12.94. 268,288 shares of the company’s stock were exchanged. The company has a market cap of $1.26 billion, a PE ratio of 18.28 and a beta of 0.97. First Commonwealth Financial Corporation has a 12-month low of $9.52 and a 12-month high of $14.61. The company’s 50-day moving average price is $12.84 and its 200-day moving average price is $13.18.

First Commonwealth Financial Corporation (NYSE:FCF) last issued its earnings results on Wednesday, July 26th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. First Commonwealth Financial Corporation had a net margin of 21.61% and a return on equity of 9.45%. The business had revenue of $76.72 million during the quarter, compared to analysts’ expectations of $76.82 million. During the same quarter in the prior year, the business posted $0.14 EPS. Analysts forecast that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, August 3rd. First Commonwealth Financial Corporation’s payout ratio is 45.07%.

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A number of research analysts have issued reports on FCF shares. Canaccord Genuity decreased their price target on shares of First Commonwealth Financial Corporation from C$4.50 to C$4.25 and set a “speculative buy” rating for the company in a report on Monday, May 15th. Zacks Investment Research cut shares of First Commonwealth Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. FBR & Co reaffirmed a “hold” rating on shares of First Commonwealth Financial Corporation in a report on Wednesday, April 26th. BidaskClub cut shares of First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, Royal Bank Of Canada started coverage on shares of First Commonwealth Financial Corporation in a report on Monday, July 17th. They issued an “outperform” rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $9.57.

In other First Commonwealth Financial Corporation news, Director Stephen Reid purchased 35,700 shares of First Commonwealth Financial Corporation stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average price of $3.35 per share, for a total transaction of $119,595.00. Also, Director Bart E. Johnson purchased 3,267 shares of First Commonwealth Financial Corporation stock in a transaction that occurred on Monday, May 8th. The stock was acquired at an average price of $12.88 per share, with a total value of $42,078.96. Following the transaction, the director now owns 52,220 shares in the company, valued at $672,593.60. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 91,711 shares of company stock valued at $313,247. Company insiders own 1.72% of the company’s stock.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

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Institutional Ownership by Quarter for First Commonwealth Financial Corporation (NYSE:FCF)

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