State of New Jersey Common Pension Fund D Sells 23,740 Shares of First Commonwealth Financial Co. (NYSE:FCF)

State of New Jersey Common Pension Fund D reduced its stake in First Commonwealth Financial Co. (NYSE:FCFGet Rating) by 13.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,909 shares of the bank’s stock after selling 23,740 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.16% of First Commonwealth Financial worth $2,333,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FCF. Lazard Asset Management LLC bought a new stake in First Commonwealth Financial during the 4th quarter worth about $27,000. UMB Bank N A MO bought a new stake in First Commonwealth Financial during the 4th quarter worth about $89,000. Confluence Wealth Services Inc. bought a new stake in First Commonwealth Financial during the 4th quarter worth about $156,000. Raymond James Financial Services Advisors Inc. lifted its stake in First Commonwealth Financial by 7.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,949 shares of the bank’s stock valued at $176,000 after purchasing an additional 775 shares during the last quarter. Finally, Wharton Business Group LLC bought a new position in First Commonwealth Financial during the fourth quarter worth about $188,000. 68.56% of the stock is owned by institutional investors.

First Commonwealth Financial Trading Down 1.1 %

Shares of FCF stock opened at $14.65 on Thursday. The firm has a 50 day moving average price of $13.79 and a two-hundred day moving average price of $14.74. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.38 billion, a PE ratio of 10.85 and a beta of 1.01. First Commonwealth Financial Co. has a 12-month low of $12.36 and a 12-month high of $17.63.

First Commonwealth Financial (NYSE:FCFGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The bank reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. First Commonwealth Financial had a net margin of 32.04% and a return on equity of 11.74%. During the same quarter in the prior year, the firm earned $0.31 earnings per share. As a group, analysts predict that First Commonwealth Financial Co. will post 1.41 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, August 5th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.28%. First Commonwealth Financial’s payout ratio is 35.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FCF. DA Davidson reiterated a “buy” rating on shares of First Commonwealth Financial in a report on Wednesday, July 27th. Raymond James reiterated a “maintains” rating on shares of First Commonwealth Financial in a report on Monday. B. Riley lifted their price target on First Commonwealth Financial from $16.00 to $17.00 in a report on Monday. Finally, Stephens cut First Commonwealth Financial from an “overweight” rating to an “equal weight” rating and set a $15.50 price target for the company. in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.17.

First Commonwealth Financial Profile

(Get Rating)

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.

Further Reading

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

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