First Commonwealth Financial Co. (NYSE:FCF) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,041 shares of the bank's stock after selling 30,874 shares during the period. Rhumbline Advisers owned 0.30% of First Commonwealth Financial worth $4,694,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FCF. GAMMA Investing LLC grew its position in shares of First Commonwealth Financial by 1,385.9% during the first quarter. GAMMA Investing LLC now owns 32,898 shares of the bank's stock worth $511,000 after acquiring an additional 30,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in First Commonwealth Financial by 22.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 221,129 shares of the bank's stock valued at $3,742,000 after buying an additional 40,881 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in shares of First Commonwealth Financial by 23.6% in the 4th quarter. Voloridge Investment Management LLC now owns 127,735 shares of the bank's stock valued at $2,161,000 after purchasing an additional 24,427 shares during the period. Squarepoint Ops LLC acquired a new position in shares of First Commonwealth Financial in the 4th quarter valued at about $184,000. Finally, Two Sigma Advisers LP increased its holdings in shares of First Commonwealth Financial by 35.2% in the 4th quarter. Two Sigma Advisers LP now owns 14,200 shares of the bank's stock valued at $240,000 after purchasing an additional 3,700 shares during the period. Institutional investors own 72.58% of the company's stock.

Insider Transactions at First Commonwealth Financial

In related news, Director Todd D. Brice purchased 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were bought 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 owns 10,500 shares of the company's stock, valued at approximately $168,945. This trade represents a 200.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.17% of the company's stock.

First Commonwealth Financial Price Performance

Shares of FCF opened at $15.50 on Friday. The firm has a market capitalization of $1.63 billion, a PE ratio of 11.15 and a beta of 0.81. The stock has a 50 day simple moving average of $15.38 and a 200 day simple moving average of $16.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.93. First Commonwealth Financial Co. has a 52-week low of $12.77 and a 52-week high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $118.51 million during the quarter, compared to the consensus estimate of $117.70 million. First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.135 per share. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.13. The ex-dividend date was Friday, May 9th. This represents a $0.54 annualized dividend and a yield of 3.48%. First Commonwealth Financial's dividend payout ratio (DPR) is currently 40.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FCF. Wall Street Zen downgraded First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods lowered their target price on 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. Finally, Royal Bank of Canada dropped 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently 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.

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