BNP Paribas Financial Markets Lowers Stock Holdings in First Commonwealth Financial Co. (NYSE:FCF)

BNP Paribas Financial Markets reduced its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 49.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,565 shares of the bank's stock after selling 17,327 shares during the period. BNP Paribas Financial Markets' holdings in First Commonwealth Financial were worth $297,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FCF. Crowley Wealth Management Inc. purchased a new position in shares of First Commonwealth Financial in the 4th quarter valued at $42,000. Sterling Capital Management LLC boosted its stake in First Commonwealth Financial by 815.8% during the 4th quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank's stock worth $54,000 after purchasing an additional 2,839 shares during the period. Smartleaf Asset Management LLC boosted 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 worth $57,000 after purchasing an additional 2,154 shares during the period. Jones Financial Companies Lllp boosted its stake 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 purchasing an additional 1,227 shares during the period. Finally, AlphaQuest LLC boosted its stake in First Commonwealth Financial by 69.2% during the 4th quarter. AlphaQuest LLC now owns 4,578 shares of the bank's stock worth $77,000 after purchasing an additional 1,873 shares during the period. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Price Performance

Shares of FCF traded up $0.15 during trading hours on Thursday, reaching $15.71. The company had a trading volume of 335,731 shares, compared to its average volume of 629,657. The firm has a 50 day simple moving average of $15.26 and a 200-day simple moving average of $16.45. 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 $1.65 billion, a price-to-earnings ratio of 11.30 and a beta of 0.77. First Commonwealth Financial Co. has a 12-month low of $12.71 and a 12-month high of $19.96.

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

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's dividend payout ratio (DPR) is currently 40.30%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FCF shares. Wall Street Zen cut shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, May 7th. DA Davidson reiterated a "buy" rating and set a $21.00 price target on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Royal Bank of Canada decreased 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 note on Thursday, May 1st. Stephens restated an "overweight" rating and issued a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reduced 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 note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.92.

Insider Activity

In related news, Director Todd D. Brice purchased 7,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average price of $16.09 per share, for a total transaction of $112,630.00. Following the acquisition, the director now directly owns 10,500 shares of the company's stock, valued at $168,945. This trade represents a 200.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.17% of the company's stock.

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.