Deutsche Bank AG Increases Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Deutsche Bank AG increased its stake in First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 60.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,661 shares of the bank's stock after buying an additional 29,858 shares during the period. Deutsche Bank AG owned 0.08% of First Commonwealth Financial worth $1,348,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pictet Asset Management Holding SA increased its stake in shares of First Commonwealth Financial by 5.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 13,402 shares of the bank's stock valued at $227,000 after purchasing an additional 705 shares in the last quarter. Sei Investments Co. boosted its holdings in First Commonwealth Financial by 3.9% in the fourth quarter. Sei Investments Co. now owns 23,857 shares of the bank's stock worth $404,000 after purchasing an additional 895 shares during the last quarter. Aigen Investment Management LP boosted its holdings in First Commonwealth Financial by 6.0% in the fourth quarter. Aigen Investment Management LP now owns 17,398 shares of the bank's stock worth $294,000 after purchasing an additional 983 shares during the last quarter. Bank of Montreal Can boosted its holdings in First Commonwealth Financial by 6.2% in the fourth quarter. Bank of Montreal Can now owns 17,932 shares of the bank's stock worth $303,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in First Commonwealth Financial by 8.0% in the fourth quarter. Cetera Investment Advisers now owns 14,154 shares of the bank's stock worth $239,000 after purchasing an additional 1,053 shares during the last quarter. Institutional investors own 72.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating on the stock in a research note on Friday, May 2nd. 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. Stephens reiterated an "overweight" rating and set a $21.50 price target on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Royal Bank of Canada dropped their price target on shares of First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.92.

First Commonwealth Financial Price Performance

FCF stock traded up $0.36 during mid-day trading on Tuesday, hitting $15.80. The company had a trading volume of 467,806 shares, compared to its average volume of 629,395. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 11.37 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. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $15.26 and a 200 day moving average price of $16.46.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $118.51 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. On average, research analysts anticipate that First Commonwealth Financial Co. will post 1.45 earnings per share for the current year.

First Commonwealth Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 3.42%. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, May 9th. First Commonwealth Financial's dividend payout ratio is presently 40.30%.

Insider Activity at First Commonwealth Financial

In related news, Director Todd D. Brice acquired 7,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was bought at an average cost of $16.09 per share, with a total value of $112,630.00. Following the transaction, the director now directly owns 10,500 shares in the company, valued at approximately $168,945. This represents a 200.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.17% of the stock is currently owned by insiders.

First Commonwealth Financial 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.