Inceptionr LLC Acquires New Shares in First Commonwealth Financial Co. (NYSE:FCF)

Inceptionr LLC acquired a new stake in shares of First Commonwealth Financial Co. (NYSE:FCF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,387 shares of the bank’s stock, valued at approximately $176,000.

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of First Commonwealth Financial during the fourth quarter valued at $1,680,000. Aigen Investment Management LP boosted its position in First Commonwealth Financial by 6.0% in the fourth quarter. Aigen Investment Management LP now owns 17,398 shares of the bank’s stock worth $294,000 after purchasing an additional 983 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in First Commonwealth Financial in the fourth quarter worth about $304,000. Victory Capital Management Inc. boosted its position in First Commonwealth Financial by 85.5% in the fourth quarter. Victory Capital Management Inc. now owns 52,473 shares of the bank’s stock worth $888,000 after purchasing an additional 24,185 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in First Commonwealth Financial by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank’s stock worth $66,947,000 after purchasing an additional 173,817 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Price Performance

FCF opened at $15.52 on Tuesday. The business has a fifty day moving average of $16.44 and a 200 day moving average of $17.10. First Commonwealth Financial Co. has a 52-week low of $12.41 and a 52-week high of $19.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.58 billion, a P/E ratio of 11.16 and a beta of 0.84.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share 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 anticipate that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Friday, February 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 37.41%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FCF shares. DA Davidson reissued a “buy” rating and issued a $21.00 target price on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Stephens reaffirmed an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of First Commonwealth Financial in a research note on Thursday, January 30th. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods raised their price target on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, First Commonwealth Financial currently has a consensus rating of “Hold” and an average price target of $19.58.

About First Commonwealth Financial

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.