Ameriprise Financial Inc. Sells 27,892 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Ameriprise Financial Inc. reduced its position in First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,946 shares of the bank's stock after selling 27,892 shares during the quarter. Ameriprise Financial Inc. owned about 0.26% of First Commonwealth Financial worth $4,551,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FCF. Northern Trust Corp lifted its position in First Commonwealth Financial by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,483,405 shares of the bank's stock worth $25,099,000 after acquiring an additional 179,250 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of First Commonwealth Financial during the fourth quarter worth $629,000. Aquatic Capital Management LLC grew its position in First Commonwealth Financial by 128.9% in the 4th quarter. Aquatic Capital Management LLC now owns 8,011 shares of the bank's stock valued at $136,000 after buying an additional 4,511 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in First Commonwealth Financial in the 4th quarter valued at $2,308,000. Finally, Price T Rowe Associates Inc. MD raised its position in First Commonwealth Financial by 9.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,742 shares of the bank's stock worth $1,282,000 after buying an additional 6,733 shares during the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

First Commonwealth Financial Stock Down 0.3%

NYSE FCF traded down $0.06 during mid-day trading on Friday, reaching $15.68. 24,546 shares of the company's stock traded hands, compared to its average volume of 748,838. 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 1-year low of $12.71 and a 1-year high of $19.96. The company has a fifty day simple moving average of $15.26 and a 200-day simple moving average of $16.42. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 11.28 and a beta of 0.77.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The firm had revenue of $118.51 million for 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 firm's revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. As a group, equities research analysts expect that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.54 annualized dividend and a yield of 3.44%. This is a boost from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's dividend payout ratio is presently 40.30%.

Insider Buying and Selling at First Commonwealth Financial

In other news, Director Todd D. Brice acquired 7,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average price of $16.09 per share, with a total value of $112,630.00. Following the acquisition, the director now directly owns 10,500 shares in the company, valued at approximately $168,945. The trade was a 200.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FCF shares. Royal Bank of Canada reduced their price objective on shares of First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods decreased their price objective on First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating on the stock in a report on Friday, May 2nd. Finally, DA Davidson reiterated a "buy" rating and issued a $21.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.92.

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.