Raymond James Financial Inc. Purchases Shares of 99,317 First Commonwealth Financial Co. (NYSE:FCF)

Raymond James Financial Inc. acquired a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 99,317 shares of the bank’s stock, valued at approximately $1,680,000. Raymond James Financial Inc. owned approximately 0.10% of First Commonwealth Financial at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Aigen Investment Management LP lifted its holdings in First Commonwealth Financial by 6.0% in the 4th quarter. Aigen Investment Management LP now owns 17,398 shares of the bank’s stock valued at $294,000 after purchasing an additional 983 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of First Commonwealth Financial during the fourth quarter valued at approximately $304,000. Victory Capital Management Inc. boosted its position in First Commonwealth Financial by 85.5% during the fourth quarter. Victory Capital Management Inc. now owns 52,473 shares of the bank’s stock worth $888,000 after acquiring an additional 24,185 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in First Commonwealth Financial by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank’s stock worth $66,947,000 after acquiring an additional 173,817 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of First Commonwealth Financial by 56.8% during the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank’s stock worth $57,000 after purchasing an additional 1,227 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Trading Up 0.4 %

Shares of FCF opened at $15.55 on Tuesday. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.96. The stock’s 50-day moving average is $16.20 and its two-hundred day moving average is $16.98. 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 stock has a market cap of $1.58 billion, a PE ratio of 11.18 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 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%. Equities 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 company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Friday, February 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Stephens reaffirmed an “overweight” rating and set a $21.50 price target on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. DA Davidson reissued a “buy” rating and set a $21.00 price objective on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lifted 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. Finally, StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.58.

First Commonwealth Financial Company 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.