Intech Investment Management LLC Raises Holdings in First Commonwealth Financial Co. (NYSE:FCF)

Intech Investment Management LLC raised its stake in First Commonwealth Financial Co. (NYSE:FCF) by 48.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,667 shares of the bank’s stock after acquiring an additional 31,134 shares during the quarter. Intech Investment Management LLC owned approximately 0.09% of First Commonwealth Financial worth $1,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCF. Victory Capital Management Inc. boosted its holdings in First Commonwealth Financial by 35.9% during the third quarter. Victory Capital Management Inc. now owns 28,288 shares of the bank’s stock worth $485,000 after buying an additional 7,469 shares in the last quarter. Natixis Advisors LLC grew its position in shares of First Commonwealth Financial by 5.9% during the 3rd quarter. Natixis Advisors LLC now owns 15,882 shares of the bank’s stock valued at $272,000 after acquiring an additional 883 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock valued at $64,876,000 after acquiring an additional 105,116 shares during the period. Alpha DNA Investment Management LLC purchased a new position in shares of First Commonwealth Financial in the 3rd quarter valued at about $409,000. Finally, FMR LLC raised its holdings in First Commonwealth Financial by 22.0% in the 3rd quarter. FMR LLC now owns 24,190 shares of the bank’s stock worth $415,000 after purchasing an additional 4,360 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Stock Performance

FCF opened at $15.58 on Friday. The firm has a market capitalization of $1.59 billion, a PE ratio of 11.21 and a beta of 0.84. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. First Commonwealth Financial Co. has a twelve month low of $12.41 and a twelve month high of $19.96. The firm’s 50-day moving average price is $16.29 and its 200 day moving average price is $17.01.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that First Commonwealth Financial Co. will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Friday, February 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 37.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FCF shares. Stephens restated an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price objective on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson reiterated a “buy” rating and issued a $21.00 target price on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Finally, StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, First Commonwealth Financial has a consensus rating of “Hold” and a consensus target price of $19.58.

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.