Millennium Management LLC Purchases 21,012 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Millennium Management LLC increased its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 77.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 48,054 shares of the bank's stock after purchasing an additional 21,012 shares during the period. Millennium Management LLC's holdings in First Commonwealth Financial were worth $813,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FCF. Stonebridge Financial Group LLC acquired a new position in First Commonwealth Financial during the 4th quarter worth $2,147,000. Proficio Capital Partners LLC acquired a new position in First Commonwealth Financial during the 4th quarter worth $304,000. Barclays PLC lifted its holdings in First Commonwealth Financial by 121.8% during the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank's stock worth $3,631,000 after buying an additional 116,295 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in First Commonwealth Financial by 46.6% during the 4th 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 in the last quarter. Finally, Amundi lifted its holdings in First Commonwealth Financial by 187.4% during the 4th quarter. Amundi now owns 51,631 shares of the bank's stock worth $847,000 after buying an additional 33,666 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company's stock.

Analysts Set New Price Targets

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

First Commonwealth Financial Trading Up 2.5%

Shares of FCF stock traded up $0.39 during trading hours on Friday, reaching $15.79. The company had a trading volume of 459,141 shares, compared to its average volume of 633,041. The company has a 50 day moving average of $15.25 and a 200 day moving average of $16.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 11.36 and a beta of 0.81. First Commonwealth Financial Co. has a 1-year low of $12.71 and a 1-year high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. The company had revenue of $118.51 million for the quarter, compared to the consensus estimate of $117.70 million. During the same quarter in the prior year, the business posted $0.37 EPS. The firm's quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts anticipate that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.135 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.42%. This is a boost from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's dividend payout ratio is currently 40.30%.

Insider Activity at First Commonwealth Financial

In other news, Director Todd D. Brice acquired 7,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was acquired at an average price of $16.09 per share, for a total transaction of $112,630.00. Following the transaction, the director now directly owns 10,500 shares in the company, valued at approximately $168,945. This 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 at this link. 2.17% of the stock is owned by corporate 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.