Federated Hermes Inc. Acquires 86,587 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Federated Hermes Inc. grew its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF) by 43.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,934 shares of the bank’s stock after buying an additional 86,587 shares during the quarter. Federated Hermes Inc. owned approximately 0.28% of First Commonwealth Financial worth $4,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Commonwealth Financial by 63.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,394 shares of the bank’s stock valued at $438,000 after purchasing an additional 11,040 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of First Commonwealth Financial in the 4th quarter valued at about $789,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of First Commonwealth Financial by 4.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,086 shares of the bank’s stock valued at $912,000 after purchasing an additional 2,721 shares during the period. International Assets Investment Management LLC bought a new stake in shares of First Commonwealth Financial in the 4th quarter valued at about $74,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of First Commonwealth Financial in the 4th quarter valued at about $1,269,000. 72.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FCF shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of First Commonwealth Financial in a report on Tuesday, April 9th. StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Stephens lowered their price target on shares of First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a report on Tuesday, February 6th.

First Commonwealth Financial Stock Down 0.1 %

First Commonwealth Financial stock opened at $13.54 on Friday. The company’s 50-day moving average price is $13.28 and its two-hundred day moving average price is $13.61. First Commonwealth Financial Co. has a twelve month low of $11.16 and a twelve month high of $15.90. The stock has a market cap of $1.38 billion, a P/E ratio of 8.41 and a beta of 0.87. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.14.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. First Commonwealth Financial had a net margin of 24.96% and a return on equity of 12.89%. The firm had revenue of $116.60 million for the quarter, compared to analyst estimates of $119.80 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue was down .9% compared to the same quarter last year. As a group, analysts expect that First Commonwealth Financial Co. will post 1.44 EPS for the current year.

First Commonwealth Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Thursday, May 2nd. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.13. First Commonwealth Financial’s dividend payout ratio is presently 31.06%.

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.