Icon Advisers Inc. Co. Cuts Stake in First Commonwealth Financial (FCF)
Icon Advisers Inc. Co. trimmed its position in First Commonwealth Financial (NYSE:FCF) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 380,760 shares of the bank’s stock after selling 10,100 shares during the period. Icon Advisers Inc. Co.’s holdings in First Commonwealth Financial were worth $5,452,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its holdings in shares of First Commonwealth Financial by 11.1% in the second quarter. Ameritas Investment Partners Inc. now owns 8,496 shares of the bank’s stock valued at $108,000 after purchasing an additional 846 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of First Commonwealth Financial by 130.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,882 shares of the bank’s stock valued at $127,000 after purchasing an additional 5,023 shares in the last quarter. Algert Global LLC bought a new stake in shares of First Commonwealth Financial in the third quarter valued at about $141,000. Amalgamated Bank lifted its holdings in shares of First Commonwealth Financial by 9.7% in the second quarter. Amalgamated Bank now owns 13,150 shares of the bank’s stock valued at $167,000 after purchasing an additional 1,160 shares in the last quarter. Finally, NEXT Financial Group Inc bought a new stake in shares of First Commonwealth Financial in the third quarter valued at about $181,000. Institutional investors own 65.93% of the company’s stock.
A number of analysts have recently commented on the company. B. Riley restated a “hold” rating and issued a $16.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 25th. Boenning Scattergood restated a “hold” rating on shares of First Commonwealth Financial in a report on Thursday, January 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $16.00 price target on shares of First Commonwealth Financial in a report on Monday, January 29th. Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday, October 27th. Finally, FBR & Co reiterated a “neutral” rating and set a $14.00 target price on shares of First Commonwealth Financial in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. First Commonwealth Financial has a consensus rating of “Hold” and an average target price of $11.86.
First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, January 23rd. The bank reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. First Commonwealth Financial had a return on equity of 9.24% and a net margin of 16.67%. The business had revenue of $80.98 million for the quarter, compared to analyst estimates of $80.90 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. First Commonwealth Financial’s revenue was up 15.2% on a year-over-year basis. analysts expect that First Commonwealth Financial will post 1.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Friday, February 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.32 annualized dividend and a yield of 2.30%. First Commonwealth Financial’s payout ratio is presently 55.17%.
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First Commonwealth Financial Profile
First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.
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