Jane Street Group LLC Decreases Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Jane Street Group LLC decreased its position in First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 77.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,487 shares of the bank's stock after selling 116,103 shares during the period. Jane Street Group LLC's holdings in First Commonwealth Financial were worth $584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in First Commonwealth Financial during the fourth quarter worth about $42,000. Sterling Capital Management LLC lifted its holdings in shares of First Commonwealth Financial by 815.8% in the fourth 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 in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of First Commonwealth Financial by 56.8% in the fourth 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. Smartleaf Asset Management LLC lifted its holdings in shares of First Commonwealth Financial by 173.4% in the fourth 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 in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of First Commonwealth Financial by 69.2% in the fourth quarter. AlphaQuest LLC now owns 4,578 shares of the bank's stock valued at $77,000 after purchasing an additional 1,873 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have issued reports on FCF. Royal Bank of Canada reduced their price target on shares of First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Keefe, Bruyette & Woods reduced their price target on shares of 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, Wall Street Zen downgraded shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $18.92.

First Commonwealth Financial Trading Down 0.7%

Shares of NYSE:FCF traded down $0.11 during trading on Friday, reaching $15.62. The stock had a trading volume of 442,849 shares, compared to its average volume of 631,478. First Commonwealth Financial Co. has a fifty-two week low of $12.71 and a fifty-two week high of $19.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average price of $15.26 and a 200-day moving average price of $16.37. The stock has a market cap of $1.64 billion, a P/E ratio of 11.24 and a beta of 0.77.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. The firm had revenue of $118.51 million during the quarter, compared to analyst estimates of $117.70 million. During the same quarter in the prior year, the business posted $0.37 earnings per share. First Commonwealth Financial's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that First Commonwealth Financial Co. 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 given a dividend of $0.135 per share. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.54 annualized dividend and a yield of 3.46%. First Commonwealth Financial's dividend payout ratio is 40.30%.

About First Commonwealth Financial

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.