Teacher Retirement System of Texas Decreases Holdings in First Commonwealth Financial Corporation (NYSE:FCF)

Teacher Retirement System of Texas lowered its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 23.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & 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 SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of First Commonwealth Financial by 12.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,687 shares of the bank's stock worth $1,281,000 after purchasing an additional 8,828 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in First Commonwealth Financial by 10.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,680 shares of the bank's stock worth $337,000 after buying an additional 2,088 shares during the period. SG Americas Securities LLC bought a new stake in First Commonwealth Financial during the 1st quarter valued at about $484,000. Vest Financial LLC purchased a new stake in First Commonwealth Financial in the 1st quarter valued at about $1,473,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in First Commonwealth Financial in the 1st quarter worth about $244,000. Institutional investors own 72.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research note 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 decreased their target price 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 given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.92.

Insider Buying and Selling at First Commonwealth Financial

In related news, Director Todd D. Brice bought 7,000 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were bought at an average price of $16.09 per share, for a total transaction of $112,630.00. Following the completion of the purchase, the director directly owned 10,500 shares of the company's stock, valued at approximately $168,945. This trade represents a 200.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.17% of the stock is owned by company insiders.

First Commonwealth Financial Stock Up 1.7%

Shares of NYSE:FCF traded up $0.29 during trading hours on Thursday, hitting $16.94. The company's stock had a trading volume of 858,181 shares, compared to its average volume of 637,038. The firm's fifty day moving average price is $16.06 and its 200 day moving average price is $15.92. First Commonwealth Financial Corporation has a 52 week low of $13.54 and a 52 week high of $19.96. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 12.64 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 issued 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. The company had revenue of $118.51 million for the quarter, compared to analyst estimates of $117.70 million. First Commonwealth Financial had a net margin of 19.68% and a return on equity of 9.80%. First Commonwealth Financial's revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. As a group, research 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. Stockholders of record on Friday, May 9th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 3.19%. 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. First Commonwealth Financial's payout ratio is presently 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.