Rhumbline Advisers Lowers Stock Holdings in First Commonwealth Financial Corporation (NYSE:FCF)

Rhumbline Advisers trimmed its holdings in First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 9.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,041 shares of the bank's stock after selling 30,874 shares during the quarter. Rhumbline Advisers owned about 0.30% of First Commonwealth Financial worth $4,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in First Commonwealth Financial in the fourth quarter worth approximately $42,000. Sterling Capital Management LLC lifted its holdings in shares of First Commonwealth Financial by 815.8% in 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 in the last quarter. Smartleaf Asset Management LLC grew its position in First Commonwealth Financial by 173.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank's stock valued at $57,000 after purchasing an additional 2,154 shares during the period. Jones Financial Companies Lllp increased 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 valued at $57,000 after purchasing an additional 1,227 shares in the last quarter. Finally, AlphaQuest LLC raised its holdings in First Commonwealth Financial by 69.2% during the fourth quarter. AlphaQuest LLC now owns 4,578 shares of the bank's stock worth $77,000 after buying an additional 1,873 shares during the last quarter. Institutional investors own 72.58% of the company's stock.

Wall Street Analysts Forecast Growth

FCF has been the subject of several recent research reports. Wall Street Zen downgraded shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada decreased their price objective on First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods dropped their target price 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $18.92.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock traded down $0.12 during mid-day trading on Tuesday, hitting $15.29. 489,990 shares of the stock were exchanged, compared to its average volume of 634,137. The company has a market capitalization of $1.60 billion, a P/E ratio of 11.41 and a beta of 0.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50-day simple moving average of $15.42 and a 200 day simple moving average of $16.11. First Commonwealth Financial Corporation has a 12 month low of $12.95 and a 12 month high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. The company had revenue of $118.51 million for the quarter, compared to analysts' expectations of $117.70 million. First Commonwealth Financial had a return on equity of 9.80% and a net margin of 19.68%. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. Sell-side analysts anticipate that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors 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 3.53%. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's payout ratio is 40.30%.

Insider Activity at First Commonwealth Financial

In related news, Director Todd D. Brice bought 7,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $16.09 per share, for a total transaction of $112,630.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.17% of the stock is owned by company insiders.

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.