Citigroup Inc. Increases Position in First Commonwealth Financial (FCF)

Citigroup Inc. increased its holdings in shares of First Commonwealth Financial (NYSE:FCF) by 56.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,581 shares of the bank’s stock after purchasing an additional 36,674 shares during the period. Citigroup Inc. owned 0.10% of First Commonwealth Financial worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Rafferty Asset Management LLC acquired a new stake in First Commonwealth Financial during the fourth quarter worth about $2,376,000. NEXT Financial Group Inc acquired a new stake in First Commonwealth Financial during the fourth quarter worth about $175,000. Texas Permanent School Fund raised its stake in First Commonwealth Financial by 3.0% during the fourth quarter. Texas Permanent School Fund now owns 65,061 shares of the bank’s stock worth $786,000 after acquiring an additional 1,911 shares during the period. BlackRock Inc. raised its stake in First Commonwealth Financial by 0.5% during the fourth quarter. BlackRock Inc. now owns 14,701,789 shares of the bank’s stock worth $177,598,000 after acquiring an additional 69,122 shares during the period. Finally, First Trust Advisors LP raised its stake in First Commonwealth Financial by 49.0% during the fourth quarter. First Trust Advisors LP now owns 197,031 shares of the bank’s stock worth $2,380,000 after acquiring an additional 64,788 shares during the period. 66.39% of the stock is owned by hedge funds and other institutional investors.

NYSE FCF opened at $13.48 on Friday. First Commonwealth Financial has a 52 week low of $11.33 and a 52 week high of $17.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.51 and a beta of 1.18.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, January 29th. The bank reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. First Commonwealth Financial had a net margin of 28.22% and a return on equity of 11.43%. The firm had revenue of $85.58 million during the quarter, compared to analysts’ expectations of $84.90 million. During the same quarter in the prior year, the firm earned $0.21 EPS. As a group, equities analysts expect that First Commonwealth Financial will post 1.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Friday, February 8th were given a $0.10 dividend. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 7th. This represents a $0.40 annualized dividend and a yield of 2.97%. First Commonwealth Financial’s dividend payout ratio is 36.36%.

Several equities research analysts recently weighed in on FCF shares. ValuEngine upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Raymond James restated a “hold” rating on shares of First Commonwealth Financial in a research report on Tuesday, December 11th. Finally, Zacks Investment Research upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 10th. One equities 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 company. The company presently has a consensus rating of “Hold” and a consensus target price of $16.20.

In other news, Director Luke A. Latimer bought 8,000 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was purchased at an average price of $12.24 per share, for a total transaction of $97,920.00. Following the transaction, the director now owns 145,918 shares in the company, valued at $1,786,036.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.42% of the stock is currently owned by corporate insiders.

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About First Commonwealth Financial

First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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.

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Institutional Ownership by Quarter for First Commonwealth Financial (NYSE:FCF)

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