Xact Kapitalforvaltning AB trimmed its stake in shares of First Commonwealth Financial (NYSE:FCF) by 34.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,669 shares of the bank’s stock after selling 11,600 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in First Commonwealth Financial were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCF. BlackRock Inc. raised its stake in shares of First Commonwealth Financial by 0.5% in the fourth quarter. BlackRock Inc. now owns 14,701,789 shares of the bank’s stock valued at $177,598,000 after acquiring an additional 69,122 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of First Commonwealth Financial by 3.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,427,337 shares of the bank’s stock valued at $30,584,000 after acquiring an additional 85,816 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of First Commonwealth Financial by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,035,057 shares of the bank’s stock valued at $24,583,000 after acquiring an additional 175,012 shares during the last quarter. Norges Bank bought a new stake in shares of First Commonwealth Financial during the 4th quarter valued at $15,566,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of First Commonwealth Financial by 0.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,116,064 shares of the bank’s stock valued at $14,062,000 after acquiring an additional 4,994 shares during the last quarter. 66.58% of the stock is currently owned by institutional investors.

Shares of NYSE:FCF opened at $12.91 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.19. First Commonwealth Financial has a one year low of $11.33 and a one year high of $17.91. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.48 and a beta of 1.18.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.01). The firm had revenue of $84.80 million during the quarter, compared to the consensus estimate of $84.91 million. First Commonwealth Financial had a net margin of 27.84% and a return on equity of 11.25%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, equities analysts forecast that First Commonwealth Financial will post 1.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.10%. First Commonwealth Financial’s payout ratio is 36.36%.

Several analysts have commented on the stock. Zacks Investment Research cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. ValuEngine lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Finally, Boenning Scattergood reissued a “hold” rating on shares of First Commonwealth Financial in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.20.

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First Commonwealth Financial Profile

First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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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Institutional Ownership by Quarter for First Commonwealth Financial (NYSE:FCF)

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