Illinois Municipal Retirement Fund Has $847,000 Position in First Commonwealth Financial Corporation (NYSE:FCF)

Illinois Municipal Retirement Fund lessened its stake in First Commonwealth Financial Corporation (NYSE:FCF) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,519 shares of the bank’s stock after selling 732 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of First Commonwealth Financial worth $847,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of First Commonwealth Financial by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank’s stock worth $66,947,000 after acquiring an additional 173,817 shares during the period. American Century Companies Inc. raised its stake in shares of First Commonwealth Financial by 0.5% in the fourth quarter. American Century Companies Inc. now owns 1,992,712 shares of the bank’s stock valued at $33,717,000 after purchasing an additional 9,588 shares in the last quarter. Northern Trust Corp lifted its position in First Commonwealth Financial by 13.7% in the fourth quarter. Northern Trust Corp now owns 1,483,405 shares of the bank’s stock worth $25,099,000 after purchasing an additional 179,250 shares during the period. First Trust Advisors LP boosted its stake in First Commonwealth Financial by 19.9% during the fourth quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank’s stock worth $21,461,000 after buying an additional 210,876 shares in the last quarter. Finally, First Commonwealth Financial Corp PA increased its holdings in First Commonwealth Financial by 0.5% in the 4th quarter. First Commonwealth Financial Corp PA now owns 930,673 shares of the bank’s stock valued at $15,747,000 after buying an additional 5,055 shares during the period. 72.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of First Commonwealth Financial from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 2nd. Wall Street Zen lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada cut their target price on First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $18.92.

Insider Buying and Selling

In other news, Director Todd D. Brice bought 7,000 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was bought at an average price of $16.09 per share, for a total transaction of $112,630.00. Following the completion of the transaction, the director directly owned 10,500 shares in the company, valued at $168,945. The trade was a 200.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.17% of the company’s stock.

First Commonwealth Financial Stock Up 1.8%

Shares of NYSE FCF opened at $16.98 on Thursday. First Commonwealth Financial Corporation has a 12-month low of $13.54 and a 12-month high of $19.96. The firm’s 50-day simple moving average is $15.76 and its 200 day simple moving average is $15.94. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 12.67 and a beta of 0.81.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, April 29th. The bank reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $118.51 million for the quarter, compared to analyst estimates of $117.70 million. First Commonwealth Financial had a net margin of 19.68% and a return on equity of 9.80%. First Commonwealth Financial’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. On average, research analysts expect that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.18%. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, May 9th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 40.30%.

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.