Zurcher Kantonalbank Zurich Cantonalbank Has $438,000 Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Commonwealth Financial Co. (NYSE:FCF) by 63.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,394 shares of the bank’s stock after acquiring an additional 11,040 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Commonwealth Financial were worth $438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EMC Capital Management boosted its position in shares of First Commonwealth Financial by 7.0% during the 3rd quarter. EMC Capital Management now owns 12,300 shares of the bank’s stock valued at $150,000 after purchasing an additional 807 shares in the last quarter. Swiss National Bank boosted its holdings in shares of First Commonwealth Financial by 0.8% during the 3rd quarter. Swiss National Bank now owns 226,200 shares of the bank’s stock worth $2,762,000 after buying an additional 1,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of First Commonwealth Financial by 4.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,086 shares of the bank’s stock worth $912,000 after buying an additional 2,721 shares during the period. Teacher Retirement System of Texas increased its stake in shares of First Commonwealth Financial by 8.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 35,469 shares of the bank’s stock valued at $433,000 after acquiring an additional 2,878 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of First Commonwealth Financial by 1.6% during the 3rd quarter. Federated Hermes Inc. now owns 200,347 shares of the bank’s stock valued at $2,446,000 after acquiring an additional 3,207 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Trading Up 0.6 %

NYSE:FCF opened at $13.67 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.92. First Commonwealth Financial Co. has a one year low of $11.16 and a one year high of $15.90. The company has a market cap of $1.40 billion, a PE ratio of 8.49 and a beta of 0.86. The firm has a 50-day moving average of $13.29 and a 200-day moving average of $13.64.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. First Commonwealth Financial had a return on equity of 12.89% and a net margin of 24.96%. The business had revenue of $116.60 million for the quarter, compared to analysts’ expectations of $119.80 million. During the same period last year, the business earned $0.45 EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts expect that First Commonwealth Financial Co. will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.80%. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, May 2nd. First Commonwealth Financial’s dividend payout ratio is presently 32.30%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of First Commonwealth Financial in a report on Tuesday, April 9th. Stephens reduced their price objective on First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Finally, StockNews.com lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th.

About First Commonwealth Financial

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.