Bank of New York Mellon Corp Lowers Holdings in First Commonwealth Financial Co. (NYSE:FCF)

Bank of New York Mellon Corp decreased its stake in First Commonwealth Financial Co. (NYSE:FCF) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,011,550 shares of the bank’s stock after selling 88,994 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of First Commonwealth Financial worth $17,115,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in First Commonwealth Financial by 2.9% in the 3rd 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 period. Franklin Resources Inc. raised its holdings in First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after purchasing an additional 456,119 shares during the period. Principal Financial Group Inc. raised its holdings in First Commonwealth Financial by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 557,397 shares of the bank’s stock worth $9,431,000 after purchasing an additional 18,433 shares during the period. Nordea Investment Management AB raised its holdings 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 worth $3,611,000 after purchasing an additional 6,091 shares during the period. Finally, Barclays PLC raised its holdings in 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. Hedge funds and other institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Down 0.7 %

FCF opened at $15.37 on Wednesday. The business’s 50-day simple moving average is $16.41 and its 200-day simple moving average is $17.09. 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 Co. has a one year low of $12.41 and a one year high of $19.96. The stock has a market capitalization of $1.57 billion, a P/E ratio of 11.06 and a beta of 0.84.

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 analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. Analysts anticipate that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.52 annualized dividend and a dividend yield of 3.38%. First Commonwealth Financial’s dividend payout ratio is currently 37.41%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. DA Davidson reissued a “buy” rating and set a $21.00 target price on shares of First Commonwealth Financial in a report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of First Commonwealth Financial in a report on Thursday, January 30th. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Stephens reissued an “overweight” rating and set a $21.50 target price on shares of First Commonwealth Financial in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods increased their target price 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.