First Commonwealth Financial Corporation (FCF) Shares Sold by BlackRock Investment Management LLC

First Commonwealth Financial Corporation (FCF) Shares Sold by BlackRock Investment Management LLC

BlackRock Investment Management LLC reduced its position in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 0.5% during the third quarter, Holdings Channel reports. The fund owned 403,724 shares of the company’s stock after selling 1,869 shares during the period. BlackRock Investment Management LLC owned about 0.45% of First Commonwealth Financial Corporation worth $4,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. PineBridge Investments L.P. boosted its position in shares of First Commonwealth Financial Corporation by 4.1% in the second quarter. PineBridge Investments L.P. now owns 11,085 shares of the company’s stock worth $102,000 after buying an additional 440 shares during the last quarter. Amalgamated Bank purchased a new position in shares of First Commonwealth Financial Corporation during the second quarter worth $104,000. Citadel Advisors LLC raised its position in First Commonwealth Financial Corporation by 1.4% in the second quarter. Citadel Advisors LLC now owns 12,173 shares of the company’s stock valued at $112,000 after buying an additional 171 shares during the period. Teacher Retirement System of Texas raised its position in First Commonwealth Financial Corporation by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 12,439 shares of the company’s stock valued at $114,000 after buying an additional 1,506 shares during the period. Finally, McKinley Carter Wealth Services Inc. raised its position in First Commonwealth Financial Corporation by 3.4% in the third quarter. McKinley Carter Wealth Services Inc. now owns 12,929 shares of the company’s stock valued at $130,000 after buying an additional 429 shares during the period. Hedge funds and other institutional investors own 61.26% of the company’s stock.

Shares of First Commonwealth Financial Corporation (NYSE:FCF) traded up 0.42% during mid-day trading on Friday, hitting $14.45. The stock had a trading volume of 249,227 shares. First Commonwealth Financial Corporation has a one year low of $7.89 and a one year high of $14.61. The firm’s 50 day moving average price is $13.93 and its 200-day moving average price is $11.19. The company has a market cap of $1.28 billion, a PE ratio of 21.54 and a beta of 0.97.

First Commonwealth Financial Corporation (NYSE:FCF) last posted its quarterly earnings results on Wednesday, January 25th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. First Commonwealth Financial Corporation had a net margin of 21.11% and a return on equity of 8.27%. During the same quarter in the previous year, the company posted $0.11 EPS. On average, equities research analysts anticipate that First Commonwealth Financial Corporation will post $0.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Monday, February 6th will be issued a dividend of $0.08 per share. This is a boost from First Commonwealth Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, February 2nd. First Commonwealth Financial Corporation’s payout ratio is currently 41.79%.

Several research analysts have commented on FCF shares. Zacks Investment Research raised First Commonwealth Financial Corporation from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Wednesday, October 5th. Canaccord Genuity reissued a “buy” rating and issued a C$4.50 price objective on shares of First Commonwealth Financial Corporation in a research report on Tuesday, January 17th. Desjardins started coverage on First Commonwealth Financial Corporation in a research report on Tuesday, November 29th. They issued a “buy” rating and a C$4.75 price objective on the stock. Finally, FBR & Co raised their price objective on First Commonwealth Financial Corporation from $14.00 to $15.00 and gave the company a “mkt perform” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. First Commonwealth Financial Corporation has a consensus rating of “Buy” and a consensus price target of $9.68.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

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