JPMorgan Chase & Co. Increases Stake in First Commonwealth Financial Co. (NYSE:FCF)

JPMorgan Chase & Co. increased its stake in First Commonwealth Financial Co. (NYSE:FCF – Free Report) by 46.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 927,453 shares of the bank’s stock after buying an additional 295,011 shares during the period. JPMorgan Chase & Co.’s holdings in First Commonwealth Financial were worth $15,693,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Sanctuary Advisors LLC boosted its holdings in shares of First Commonwealth Financial by 4.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,623 shares of the bank’s stock valued at $268,000 after purchasing an additional 633 shares during the last quarter. Sei Investments Co. raised its position in shares of First Commonwealth Financial by 3.9% in the 4th quarter. Sei Investments Co. now owns 23,857 shares of the bank’s stock worth $404,000 after buying an additional 895 shares during the period. Aigen Investment Management LP boosted its holdings 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 valued at $294,000 after acquiring an additional 983 shares during the last quarter. Jones Financial Companies Lllp grew its position in First Commonwealth Financial by 56.8% during the fourth quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank’s stock valued at $57,000 after acquiring an additional 1,227 shares during the period. Finally, Swiss National Bank grew its position in First Commonwealth Financial by 0.8% during the fourth quarter. Swiss National Bank now owns 201,400 shares of the bank’s stock valued at $3,408,000 after acquiring an additional 1,600 shares during the period. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

First Commonwealth Financial Stock Down 0.9 %

Shares of NYSE:FCF opened at $14.09 on Friday. The company has a 50 day moving average of $15.75 and a two-hundred day moving average of $16.79. 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 company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 10.13 and a beta of 0.72.

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First Commonwealth Financial (NYSE:FCF – Get Free Report) 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, analysts forecast that First Commonwealth Financial Co. will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Friday, February 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.41%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FCF. 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 cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 4th. Stephens reiterated an “overweight” rating and set a $21.50 price objective on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Finally, DA Davidson reissued a “buy” rating and issued a $21.00 target price on shares of First Commonwealth Financial in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.58.

Read Our Latest Analysis on First Commonwealth Financial

First Commonwealth Financial Profile

(Free Report)

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.