Illinois Municipal Retirement Fund Sells 4,887 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Illinois Municipal Retirement Fund trimmed its stake in First Commonwealth Financial Co. (NYSE:FCF) by 8.0% in the 4th quarter, HoldingsChannel reports. The fund owned 56,215 shares of the bank’s stock after selling 4,887 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in First Commonwealth Financial were worth $868,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FCF. Emerald Advisers LLC bought a new position in shares of First Commonwealth Financial in the 3rd quarter worth $49,000. International Assets Investment Management LLC purchased a new position in First Commonwealth Financial during the 4th quarter worth $74,000. Quantbot Technologies LP purchased a new position in First Commonwealth Financial during the 3rd quarter worth $90,000. EMC Capital Management grew its stake in First Commonwealth Financial by 7.0% during the 3rd quarter. EMC Capital Management now owns 12,300 shares of the bank’s stock worth $150,000 after buying an additional 807 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new position in First Commonwealth Financial during the 3rd quarter worth $212,000. 72.58% of the stock is owned by institutional investors.

First Commonwealth Financial Stock Down 0.1 %

First Commonwealth Financial stock opened at $13.55 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50-day simple moving average is $13.28 and its two-hundred day simple moving average is $13.63. The company has a market cap of $1.38 billion, a PE ratio of 8.42 and a beta of 0.87. First Commonwealth Financial Co. has a fifty-two week low of $11.16 and a fifty-two week high of $15.90.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. First Commonwealth Financial had a return on equity of 12.89% and a net margin of 24.96%. The business had revenue of $116.60 million for the quarter, compared to the consensus estimate of $119.80 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. Equities analysts anticipate that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

First Commonwealth Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $0.13 dividend. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, May 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.84%. First Commonwealth Financial’s dividend payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCF. Stephens dropped their target price on First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of First Commonwealth Financial in a research note on Tuesday, April 9th.

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.