GAMMA Investing LLC Has $511,000 Holdings in First Commonwealth Financial Corporation (NYSE:FCF)

GAMMA Investing LLC boosted its position in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 1,385.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,898 shares of the bank's stock after purchasing an additional 30,684 shares during the period. GAMMA Investing LLC's holdings in First Commonwealth Financial were worth $511,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of First Commonwealth Financial by 46.6% in the fourth quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank's stock worth $15,693,000 after buying an additional 295,011 shares during the last quarter. Norges Bank acquired a new position in shares of First Commonwealth Financial during the 4th quarter worth about $4,536,000. First Trust Advisors LP lifted its position in shares of First Commonwealth Financial by 19.9% during the 4th quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank's stock worth $21,461,000 after purchasing an additional 210,876 shares during the last quarter. Northern Trust Corp lifted its position in shares of 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 purchasing an additional 179,250 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of First Commonwealth Financial by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank's stock worth $66,947,000 after purchasing an additional 173,817 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FCF. Wall Street Zen cut First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada cut their price objective on 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. Finally, Keefe, Bruyette & Woods cut their price objective on First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating for the company in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $18.92.

First Commonwealth Financial Stock Performance

FCF traded up $0.51 on Monday, hitting $15.89. 560,446 shares of the stock traded hands, compared to its average volume of 637,036. First Commonwealth Financial Corporation has a 52 week low of $13.05 and a 52 week high of $19.96. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.67 billion, a PE ratio of 11.86 and a beta of 0.81. The business has a fifty day moving average price of $15.51 and a two-hundred day moving average price of $16.00.

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

First Commonwealth Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.135 dividend. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Friday, May 9th. First Commonwealth Financial's dividend payout ratio is currently 40.30%.

Insider Activity

In other First Commonwealth Financial news, Director Todd D. Brice bought 7,000 shares of First Commonwealth Financial stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average cost of $16.09 per share, with a total value of $112,630.00. Following the acquisition, the director now directly owns 10,500 shares of the company's stock, valued at $168,945. The trade was a 200.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.