99,317 Shares in First Commonwealth Financial Co. (NYSE:FCF) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in First Commonwealth Financial Co. (NYSE:FCF - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 99,317 shares of the bank's stock, valued at approximately $1,680,000. Raymond James Financial Inc. owned about 0.10% of First Commonwealth Financial as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of FCF. Crowley Wealth Management Inc. acquired a new position in First Commonwealth Financial in the fourth quarter valued at $42,000. Wilmington Savings Fund Society FSB acquired a new position in shares of First Commonwealth Financial during the third quarter worth $46,000. Jones Financial Companies Lllp boosted its position in First Commonwealth Financial by 56.8% in the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank's stock valued at $57,000 after buying an additional 1,227 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in First Commonwealth Financial by 173.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank's stock valued at $57,000 after purchasing an additional 2,154 shares in the last quarter. Finally, AlphaQuest LLC grew its position in shares of First Commonwealth Financial by 69.2% during the fourth quarter. AlphaQuest LLC now owns 4,578 shares of the bank's stock worth $77,000 after buying an additional 1,873 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FCF shares. DA Davidson reiterated a "buy" rating and set a $21.00 price objective on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Stephens restated an "overweight" rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a report on Wednesday, January 29th. StockNews.com downgraded First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada reduced their price target on shares of First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.25.

First Commonwealth Financial Stock Up 1.5 %

FCF opened at $15.55 on Friday. The business has a 50-day moving average of $15.28 and a 200-day moving average of $16.63. First Commonwealth Financial Co. has a fifty-two week low of $12.71 and a fifty-two week high of $19.96. The company has a market capitalization of $1.58 billion, a PE ratio of 11.18 and a beta of 0.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. The company had revenue of $118.51 million during the quarter, compared to the consensus estimate of $117.70 million. During the same quarter in the prior year, the company posted $0.37 EPS. The firm's revenue was up 1.5% on a year-over-year basis. Equities research analysts forecast that First Commonwealth Financial Co. will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a yield of 3.47%. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's dividend payout ratio (DPR) is 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.

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 Co. (NYSE:FCF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.