Brandywine Global Investment Management LLC Sells 11,409 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Brandywine Global Investment Management LLC lowered its position in First Commonwealth Financial Co. (NYSE:FCF) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 247,898 shares of the bank’s stock after selling 11,409 shares during the period. Brandywine Global Investment Management LLC owned 0.24% of First Commonwealth Financial worth $4,194,000 at the end of the most recent reporting period.

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

First Commonwealth Financial Trading Down 0.1 %

NYSE FCF opened at $15.52 on Wednesday. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.96. The stock has a 50-day simple moving average of $16.17 and a 200 day simple moving average of $16.97. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.58 billion, a PE ratio of 11.17 and a beta of 0.84.

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

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.52 annualized dividend and a yield of 3.35%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 37.41%.

Wall Street Analysts Forecast Growth

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

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.