Franklin Resources Inc. Lowers Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Franklin Resources Inc. trimmed its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF) by 10.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,090,716 shares of the bank’s stock after selling 344,286 shares during the quarter. Franklin Resources Inc. owned approximately 3.04% of First Commonwealth Financial worth $52,295,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Sanctuary Advisors LLC increased 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 acquiring an additional 633 shares during the period. Pictet Asset Management Holding SA raised its holdings in First Commonwealth Financial by 5.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 13,402 shares of the bank’s stock worth $227,000 after purchasing an additional 705 shares in the last quarter. Sei Investments Co. lifted its position in shares of First Commonwealth Financial by 3.9% during the fourth quarter. Sei Investments Co. now owns 23,857 shares of the bank’s stock valued at $404,000 after buying an additional 895 shares during the last quarter. Aigen Investment Management LP lifted its position in shares of First Commonwealth Financial by 6.0% during the fourth quarter. Aigen Investment Management LP now owns 17,398 shares of the bank’s stock valued at $294,000 after buying an additional 983 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of First Commonwealth Financial by 56.8% in the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank’s stock worth $57,000 after buying an additional 1,227 shares during the last quarter. Institutional investors own 72.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. DA Davidson reissued a “buy” rating and set a $21.00 target price on shares of First Commonwealth Financial in a research report on Thursday, January 30th. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Friday. Stephens reiterated an “overweight” rating and issued a $21.50 price target on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of First Commonwealth Financial in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Stock Down 2.6 %

FCF stock opened at $14.09 on Friday. 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 firm’s fifty day simple moving average is $16.07 and its 200-day simple moving average is $16.92. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.96. The company has a market capitalization of $1.43 billion, a P/E ratio of 10.14 and a beta of 0.84.

First Commonwealth Financial (NYSE:FCF) last posted 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 net margin of 20.38% and a return on equity of 10.36%. As a group, equities research analysts forecast that First Commonwealth Financial Co. will post 1.45 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Friday, February 7th. First Commonwealth Financial’s payout ratio is presently 37.41%.

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.