Stonebridge Financial Group LLC Takes Position in First Commonwealth Financial Co. (NYSE:FCF)

Stonebridge Financial Group LLC bought a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) during the 4th quarter, Holdings Channel.com reports. The firm bought 126,876 shares of the bank’s stock, valued at approximately $2,147,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in First Commonwealth Financial by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after purchasing an additional 105,116 shares during the last quarter. Barclays PLC raised its holdings in shares of First Commonwealth Financial by 121.8% in the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after purchasing an additional 116,295 shares during the period. Royce & Associates LP purchased a new stake in shares of First Commonwealth Financial during the 3rd quarter worth about $678,000. BNP Paribas Financial Markets increased its position in First Commonwealth Financial by 64.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,892 shares of the bank’s stock worth $598,000 after purchasing an additional 13,643 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in First Commonwealth Financial by 7.2% during the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock valued at $9,243,000 after buying an additional 36,001 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Stock Down 1.4 %

NYSE:FCF opened at $16.48 on Tuesday. The stock has a 50-day simple moving average of $17.07 and a 200 day simple moving average of $17.16. First Commonwealth Financial Co. has a one year low of $12.41 and a one year high of $19.96. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.85 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.93.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly 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%. Sell-side analysts predict that First Commonwealth Financial Co. will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.16%. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.41%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stephens reissued an “overweight” rating and issued a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. StockNews.com downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Piper Sandler lowered their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. DA Davidson reissued a “buy” rating and issued a $21.00 price objective on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods increased 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.