Mariner LLC Lowers Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Mariner LLC decreased its position in First Commonwealth Financial Co. (NYSE:FCF) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,106,128 shares of the bank’s stock after selling 39,898 shares during the period. Mariner LLC owned about 2.07% of First Commonwealth Financial worth $35,636,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FCF. 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. JPMorgan Chase & Co. raised its position in First Commonwealth Financial by 46.6% during the fourth quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank’s stock worth $15,693,000 after acquiring an additional 295,011 shares during the period. Norges Bank purchased a new position in First Commonwealth Financial during the fourth quarter valued at $4,536,000. Charles Schwab Investment Management Inc. grew its position in shares of First Commonwealth Financial by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank’s stock valued at $66,947,000 after purchasing an additional 173,817 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of First Commonwealth Financial during the fourth quarter worth about $2,456,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

Analyst Upgrades and Downgrades

FCF has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of First Commonwealth Financial in a report on Thursday, January 30th. Stephens reaffirmed an “overweight” rating and set a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, DA Davidson restated a “buy” rating and set a $21.00 price target on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Trading Up 1.6 %

Shares of FCF opened at $14.35 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $15.63 and a 200 day moving average price of $16.76. First Commonwealth Financial Co. has a 12-month low of $12.41 and a 12-month high of $19.96. The firm has a market capitalization of $1.46 billion, a P/E ratio of 10.32 and a beta of 0.72.

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 net margin of 20.38% and a return on equity of 10.36%. Sell-side analysts forecast that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Friday, February 7th. First Commonwealth Financial’s dividend 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.