First Commonwealth Financial Co. (NYSE:FCF) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 22.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,129 shares of the bank's stock after buying an additional 40,881 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of First Commonwealth Financial worth $3,742,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in First Commonwealth Financial during the fourth quarter valued at $42,000. Sterling Capital Management LLC lifted its holdings in First Commonwealth Financial by 815.8% during 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 First Commonwealth Financial by 56.8% during 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 First Commonwealth Financial by 173.4% during 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 First Commonwealth Financial by 69.2% during 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. 72.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other First Commonwealth Financial news, Director Todd D. Brice bought 7,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average cost of $16.09 per share, with a total value of $112,630.00. Following the acquisition, the director now directly owns 10,500 shares of the company's stock, valued at $168,945. The trade was a 200.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FCF has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price objective 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. Wall Street Zen cut 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 dropped their price target on shares of 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 research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $18.92.

First Commonwealth Financial Stock Up 2.5%

Shares of NYSE FCF traded up $0.39 during midday trading on Friday, hitting $15.79. The company's stock had a trading volume of 459,141 shares, compared to its average volume of 633,041. The business's fifty day simple moving average is $15.25 and its two-hundred day simple moving average is $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. First Commonwealth Financial Co. has a 1 year low of $12.71 and a 1 year high of $19.96. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 11.36 and a beta of 0.81.

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

First Commonwealth Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.135 per share. The ex-dividend date was Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a 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 (DPR) is presently 40.30%.

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.