Boston Partners Trims Stock Holdings in First Commonwealth Financial Co. (NYSE:FCF)

Boston Partners cut its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF) by 20.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,124 shares of the bank’s stock after selling 24,999 shares during the period. Boston Partners’ holdings in First Commonwealth Financial were worth $1,677,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in First Commonwealth Financial by 4.6% during the 4th 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. Franklin Resources Inc. boosted its stake in shares of First Commonwealth Financial by 15.3% during the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after buying an additional 456,119 shares during the period. Principal Financial Group Inc. grew its holdings in shares of First Commonwealth Financial by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 557,397 shares of the bank’s stock worth $9,431,000 after buying an additional 18,433 shares during the last quarter. Nordea Investment Management AB increased its position in First Commonwealth Financial by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 213,437 shares of the bank’s stock valued at $3,611,000 after acquiring an additional 6,091 shares during the period. Finally, Barclays PLC raised its stake in First Commonwealth Financial by 121.8% during the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank’s stock valued at $3,631,000 after acquiring an additional 116,295 shares during the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $15.58 on Friday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 11.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92. The business’s 50 day simple moving average is $16.29 and its 200-day simple moving average is $17.01. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.96.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. As a group, equities analysts forecast that First Commonwealth Financial Co. will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

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

Wall Street Analyst Weigh In

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