Boothbay Fund Management LLC Acquires New Holdings in First Commonwealth Financial Co. (NYSE:FCF)

Boothbay Fund Management LLC 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 institutional investor purchased 136,433 shares of the bank's stock, valued at approximately $2,308,000. Boothbay Fund Management LLC owned approximately 0.13% of First Commonwealth Financial at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FCF. Charles Schwab Investment Management Inc. boosted its stake in shares of First Commonwealth Financial by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank's stock valued at $66,947,000 after purchasing an additional 173,817 shares during the period. Franklin Resources Inc. boosted its position in First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank's stock valued at $58,601,000 after buying an additional 456,119 shares during the last quarter. American Century Companies Inc. grew its stake in shares of First Commonwealth Financial by 0.5% during the fourth quarter. American Century Companies Inc. now owns 1,992,712 shares of the bank's stock valued at $33,717,000 after acquiring an additional 9,588 shares in the last quarter. First Trust Advisors LP grew its stake in shares of 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 valued at $21,461,000 after acquiring an additional 210,876 shares in the last quarter. Finally, First Commonwealth Financial Corp PA increased its position in shares of First Commonwealth Financial by 0.5% during the fourth quarter. First Commonwealth Financial Corp PA now owns 930,673 shares of the bank's stock worth $15,747,000 after acquiring an additional 5,055 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Stock Performance

First Commonwealth Financial stock traded up $0.38 during mid-day trading on Friday, reaching $15.89. The company's stock had a trading volume of 725,159 shares, compared to its average volume of 618,587. The business has a 50 day moving average price of $15.27 and a 200-day moving average price of $16.61. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. First Commonwealth Financial Co. has a twelve month low of $12.71 and a twelve month high of $19.96. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 11.43 and a beta of 0.72.

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

First Commonwealth Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a dividend of $0.135 per share. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, May 9th. First Commonwealth Financial's dividend payout ratio is presently 40.30%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank of Canada dropped their price objective on First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Thursday. StockNews.com downgraded shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, April 23rd. 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. 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. Finally, Keefe, Bruyette & Woods dropped their target price on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, First Commonwealth Financial presently has an average rating of "Hold" and an average target price of $18.92.

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.