New York State Teachers Retirement System Sells 3,341 Shares of First Commonwealth Financial Co. (NYSE:FCF)

New York State Teachers Retirement System decreased its stake in shares of First Commonwealth Financial Co. (NYSE:FCF) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,399 shares of the bank’s stock after selling 3,341 shares during the quarter. New York State Teachers Retirement System owned approximately 0.20% of First Commonwealth Financial worth $3,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCF. Raymond James & Associates lifted its holdings in First Commonwealth Financial by 14.2% during the 1st quarter. Raymond James & Associates now owns 22,914 shares of the bank’s stock valued at $347,000 after buying an additional 2,845 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of First Commonwealth Financial by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,284,307 shares of the bank’s stock valued at $19,471,000 after purchasing an additional 6,988 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of First Commonwealth Financial by 50.9% in the 1st quarter. American Century Companies Inc. now owns 106,278 shares of the bank’s stock valued at $1,611,000 after purchasing an additional 35,836 shares in the last quarter. Citigroup Inc. raised its holdings in shares of First Commonwealth Financial by 11.1% in the 1st quarter. Citigroup Inc. now owns 84,794 shares of the bank’s stock valued at $1,285,000 after purchasing an additional 8,464 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of First Commonwealth Financial by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 50,415 shares of the bank’s stock valued at $764,000 after purchasing an additional 17,976 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

Analyst Ratings Changes

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

First Commonwealth Financial Stock Down 0.9 %

Shares of First Commonwealth Financial stock opened at $12.63 on Tuesday. The firm’s 50 day moving average price is $13.31 and its 200-day moving average price is $13.57. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.14. First Commonwealth Financial Co. has a 52-week low of $11.16 and a 52-week high of $15.90. The company has a market cap of $1.29 billion, a P/E ratio of 8.20 and a beta of 0.87.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, January 30th. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $168.55 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.39 EPS. On average, sell-side analysts predict that First Commonwealth Financial Co. will post 1.44 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

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

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.