First Commonwealth Financial Co. (NYSE:FCF) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in First Commonwealth Financial Co. (NYSE:FCF) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 206,399 shares of the bank’s stock after selling 3,341 shares during the period. New York State Teachers Retirement System’s holdings in First Commonwealth Financial were worth $3,187,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Mariner LLC purchased a new position in First Commonwealth Financial in the third quarter worth approximately $32,855,000. Illinois Municipal Retirement Fund purchased a new position in First Commonwealth Financial in the third quarter worth approximately $746,000. Charles Schwab Investment Management Inc. lifted its stake in First Commonwealth Financial by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,774,932 shares of the bank’s stock worth $33,882,000 after acquiring an additional 84,832 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in First Commonwealth Financial by 6.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,365 shares of the bank’s stock worth $688,000 after acquiring an additional 3,208 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of First Commonwealth Financial during the 3rd quarter worth approximately $332,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of First Commonwealth Financial in a research report on Tuesday, April 9th. Finally, Stephens reduced their price objective on shares of First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating for the company in a research report on Tuesday, February 6th.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock opened at $12.63 on Tuesday. The firm’s fifty day simple moving average is $13.31 and its 200-day simple moving average is $13.57. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 8.20 and a beta of 0.87. First Commonwealth Financial Co. has a 12 month low of $11.16 and a 12 month high of $15.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, January 30th. The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $168.55 million for the quarter, compared to analysts’ expectations of $123.17 million. First Commonwealth Financial had a net margin of 25.07% and a return on equity of 13.78%. During the same period in the previous year, the company posted $0.39 EPS. As a group, equities analysts forecast that First Commonwealth Financial Co. will post 1.44 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.96%. First Commonwealth Financial’s payout ratio is 32.47%.

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.