Dimensional Fund Advisors LP Sells 48,783 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Dimensional Fund Advisors LP trimmed its position in First Commonwealth Financial Co. (NYSE:FCF) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 6,990,254 shares of the bank’s stock after selling 48,783 shares during the quarter. Dimensional Fund Advisors LP owned 0.07% of First Commonwealth Financial worth $118,275,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new stake in First Commonwealth Financial in the 4th quarter worth approximately $42,000. Wilmington Savings Fund Society FSB purchased a new position in shares of First Commonwealth Financial in the third quarter valued at $46,000. Sterling Capital Management LLC increased its position in First Commonwealth Financial by 815.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank’s stock worth $54,000 after purchasing an additional 2,839 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in First Commonwealth Financial by 173.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank’s stock valued at $57,000 after purchasing an additional 2,154 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in First Commonwealth Financial by 56.8% during the fourth quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank’s stock valued at $57,000 after purchasing an additional 1,227 shares in the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

First Commonwealth Financial Stock Down 1.2 %

Shares of NYSE FCF opened at $15.05 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of 10.83 and a beta of 0.72. The firm has a 50-day simple moving average of $15.34 and a two-hundred day simple moving average of $16.67. First Commonwealth Financial Co. has a 1 year low of $12.71 and a 1 year high of $19.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data 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 net margin of 20.38% and a return on equity of 10.36%. Research analysts anticipate that First Commonwealth Financial Co. will post 1.45 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Friday, February 7th. First Commonwealth Financial’s payout ratio is presently 37.41%.

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.