Arizona State Retirement System trimmed its position in shares of First Commonwealth Financial (NYSE:FCF) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,107 shares of the bank’s stock after selling 7,796 shares during the period. Arizona State Retirement System’s holdings in First Commonwealth Financial were worth $2,266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FCF. Waldron LP bought a new stake in shares of First Commonwealth Financial during the 1st quarter valued at $21,209,000. Dimensional Fund Advisors LP raised its position in shares of First Commonwealth Financial by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,971,080 shares of the bank’s stock valued at $112,631,000 after purchasing an additional 242,840 shares during the period. BlackRock Inc. raised its position in shares of First Commonwealth Financial by 1.7% during the 1st quarter. BlackRock Inc. now owns 12,941,680 shares of the bank’s stock valued at $182,868,000 after purchasing an additional 213,829 shares during the period. Russell Investments Group Ltd. raised its position in shares of First Commonwealth Financial by 25.9% during the 1st quarter. Russell Investments Group Ltd. now owns 748,615 shares of the bank’s stock valued at $10,578,000 after purchasing an additional 154,111 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of First Commonwealth Financial by 8.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,744,340 shares of the bank’s stock valued at $24,647,000 after purchasing an additional 131,374 shares during the period. Hedge funds and other institutional investors own 68.71% of the company’s stock.

Shares of NYSE FCF opened at $16.79 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 20.48 and a beta of 1.00. First Commonwealth Financial has a 52-week low of $12.06 and a 52-week high of $17.91.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 24th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $89.98 million for the quarter, compared to the consensus estimate of $82.38 million. First Commonwealth Financial had a net margin of 22.17% and a return on equity of 10.81%. During the same period in the previous year, the firm posted $0.21 EPS. equities analysts forecast that First Commonwealth Financial will post 1.06 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Friday, August 3rd were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 2.14%. First Commonwealth Financial’s dividend payout ratio is currently 43.90%.

A number of brokerages have issued reports on FCF. Zacks Investment Research upgraded shares of First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, August 1st. ValuEngine upgraded shares of First Commonwealth Financial from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Boenning Scattergood reiterated a “hold” rating on shares of First Commonwealth Financial in a report on Wednesday, July 25th. Sandler O’Neill began coverage on shares of First Commonwealth Financial in a report on Thursday, August 30th. They issued a “hold” rating and a $18.00 price target on the stock. Finally, DA Davidson began coverage on shares of First Commonwealth Financial in a report on Thursday, August 23rd. They issued a “neutral” rating and a $18.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $16.43.

About First Commonwealth Financial

First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, 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.

Read More: Technical Analysis of Stocks, How Can It Help

Want to see what other hedge funds are holding FCF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Commonwealth Financial (NYSE:FCF).

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

Receive News & Ratings for First Commonwealth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial and related companies with MarketBeat.com's FREE daily email newsletter.