GAMMA Investing LLC Boosts Position in First Commonwealth Financial Corporation (NYSE:FCF)

GAMMA Investing LLC boosted its holdings in First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 1,385.9% in the 1st quarter, according to 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 quarter. GAMMA Investing LLC's holdings in First Commonwealth Financial were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new position in First Commonwealth Financial during the 4th quarter worth approximately $42,000. Sterling Capital Management LLC increased its position in shares of First Commonwealth Financial by 815.8% during the 4th quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank's stock valued at $54,000 after purchasing an additional 2,839 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of First Commonwealth Financial by 173.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank's stock worth $57,000 after acquiring an additional 2,154 shares in the last quarter. Jones Financial Companies Lllp raised 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 during the period. Finally, AlphaQuest LLC grew its stake in First Commonwealth Financial by 69.2% during the 4th quarter. AlphaQuest LLC now owns 4,578 shares of the bank's stock valued at $77,000 after acquiring an additional 1,873 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Stock Up 0.4%

Shares of NYSE FCF opened at $15.35 on Friday. The stock has a market cap of $1.61 billion, a P/E ratio of 11.46 and a beta of 0.81. The firm has a 50 day moving average price of $15.45 and a 200 day moving average price of $16.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. First Commonwealth Financial Corporation has a 52-week low of $13.05 and a 52-week high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.32. First Commonwealth Financial had a net margin of 19.68% and a return on equity of 9.80%. The firm had revenue of $118.51 million during the quarter, compared to analysts' expectations of $117.70 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The business's revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.135 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a yield of 3.52%. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's payout ratio is presently 40.30%.

Insider Buying and Selling at First Commonwealth Financial

In related news, Director Todd D. Brice purchased 7,000 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $16.09 per share, with a total value of $112,630.00. Following the completion of the purchase, the director now owns 10,500 shares in the company, valued at $168,945. This represents a 200.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FCF. Royal Bank Of Canada cut their target price 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 lowered shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. One 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 MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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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