Proficio Capital Partners LLC Acquires Shares of 17,953 First Commonwealth Financial Co. (NYSE:FCF)

Proficio Capital Partners LLC purchased a new stake in shares of First Commonwealth Financial Co. (NYSE:FCF) in the 4th quarter, Holdings Channel reports. The fund purchased 17,953 shares of the bank’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FCF. Wilmington Savings Fund Society FSB purchased a new stake in First Commonwealth Financial in the third quarter worth about $46,000. Smartleaf Asset Management LLC raised its stake in First Commonwealth Financial by 173.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank’s stock worth $57,000 after buying an additional 2,154 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in First Commonwealth Financial by 56.8% during the fourth quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank’s stock worth $57,000 after buying an additional 1,227 shares during the period. KBC Group NV boosted its position in First Commonwealth Financial by 61.6% during the 4th quarter. KBC Group NV now owns 5,842 shares of the bank’s stock valued at $99,000 after acquiring an additional 2,226 shares in the last quarter. Finally, Longboard Asset Management LP purchased a new position in shares of First Commonwealth Financial in the 4th quarter valued at $175,000. Institutional investors own 72.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FCF shares. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price objective on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Stephens reissued an “overweight” rating and set a $21.50 price target on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods increased their target price on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $21.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.58.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock opened at $15.76 on Thursday. The company has a 50 day moving average price of $16.25 and a 200 day moving average price of $16.99. The firm has a market capitalization of $1.60 billion, a P/E ratio of 11.33 and a beta of 0.84. First Commonwealth Financial Co. has a 52 week low of $12.41 and a 52 week high of $19.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.19.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. Sell-side analysts expect that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.52 dividend on an annualized basis and a yield of 3.30%. First Commonwealth Financial’s dividend payout ratio is presently 37.41%.

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.