First Commonwealth Financial Corporation (NYSE:FCF) Position Trimmed by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 23.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,732 shares of the bank's stock after selling 17,424 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of First Commonwealth Financial worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of FCF. Crowley Wealth Management Inc. purchased a new stake in shares of First Commonwealth Financial during the fourth quarter worth $42,000. Sterling Capital Management LLC raised its position in First Commonwealth Financial by 815.8% in 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 last quarter. Jones Financial Companies Lllp boosted its stake in shares of First Commonwealth Financial by 56.8% during the fourth quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank's stock worth $57,000 after buying an additional 1,227 shares during the period. AlphaQuest LLC boosted its stake in shares of First Commonwealth Financial by 69.2% during the fourth quarter. AlphaQuest LLC now owns 4,578 shares of the bank's stock worth $77,000 after buying an additional 1,873 shares during the period. Finally, Aquatic Capital Management LLC boosted its stake in shares of First Commonwealth Financial by 128.9% during the fourth quarter. Aquatic Capital Management LLC now owns 8,011 shares of the bank's stock worth $136,000 after buying an additional 4,511 shares during the period. Hedge funds and other institutional investors own 72.58% of the company's stock.

Insiders Place Their Bets

In related news, Director Todd D. Brice purchased 7,000 shares of First Commonwealth Financial stock in a transaction dated Tuesday, May 13th. The shares were acquired 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 owned 10,500 shares of the company's stock, valued at approximately $168,945. This trade represents a 200.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.17% of the company's stock.

First Commonwealth Financial Trading Down 0.1%

FCF stock traded down $0.03 during midday trading on Friday, hitting $16.89. The stock had a trading volume of 344,133 shares, compared to its average volume of 635,063. First Commonwealth Financial Corporation has a 12-month low of $13.54 and a 12-month high of $19.96. The company's 50-day moving average price is $16.08 and its 200 day moving average price is $15.92. The firm has a market cap of $1.77 billion, a PE ratio of 12.61 and a beta of 0.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings data 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 net margin of 19.68% and a return on equity of 9.80%. The company had revenue of $118.51 million during the quarter, compared to analysts' expectations of $117.70 million. During the same period in the previous year, the company earned $0.37 EPS. The business's quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that First Commonwealth Financial Corporation will post 1.45 earnings per share 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. Investors of record on Friday, May 9th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 3.20%. This is a boost from First Commonwealth Financial's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, May 9th. First Commonwealth Financial's dividend payout ratio is 40.30%.

Analysts Set New Price Targets

FCF has been the topic of a number of analyst reports. Royal Bank Of Canada lowered 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. 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. Finally, Wall Street Zen downgraded First Commonwealth Financial from a "hold" rating to a "sell" rating in a research 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 stock. Based on data from MarketBeat, First Commonwealth Financial has a consensus rating of "Hold" and a consensus target price of $18.92.

First Commonwealth Financial 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.