First Commonwealth Financial (FCF) Shares Bought by Mason Street Advisors LLC
Mason Street Advisors LLC increased its holdings in shares of First Commonwealth Financial (NYSE:FCF) by 2.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 31,679 shares of the bank’s stock after acquiring an additional 803 shares during the quarter. Mason Street Advisors LLC’s holdings in First Commonwealth Financial were worth $399,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. West Chester Capital Advisors Inc. raised its stake in First Commonwealth Financial by 7.7% during the 4th quarter. West Chester Capital Advisors Inc. now owns 11,240 shares of the bank’s stock worth $136,000 after buying an additional 800 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in First Commonwealth Financial by 3.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 22,492 shares of the bank’s stock worth $283,000 after buying an additional 830 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in First Commonwealth Financial by 12.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 11,617 shares of the bank’s stock worth $140,000 after buying an additional 1,292 shares during the period. Comerica Bank raised its stake in First Commonwealth Financial by 1.4% during the 1st quarter. Comerica Bank now owns 97,882 shares of the bank’s stock worth $1,308,000 after buying an additional 1,351 shares during the period. Finally, Versant Capital Management Inc raised its stake in First Commonwealth Financial by 86.3% during the 1st quarter. Versant Capital Management Inc now owns 3,000 shares of the bank’s stock worth $37,000 after buying an additional 1,390 shares during the period. 66.58% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on FCF. ValuEngine raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research raised First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, April 30th. Finally, Boenning Scattergood reissued a “hold” rating on shares of First Commonwealth Financial in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.20.
First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). First Commonwealth Financial had a net margin of 27.84% and a return on equity of 11.25%. The firm had revenue of $84.80 million during the quarter, compared to analyst estimates of $84.91 million. During the same period in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts expect that First Commonwealth Financial will post 1.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, May 2nd. First Commonwealth Financial’s dividend payout ratio is 36.36%.
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First Commonwealth Financial Profile
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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