Vest Financial LLC Invests $1.47 Million in First Commonwealth Financial Co. (NYSE:FCF)

Vest Financial LLC bought a new position in First Commonwealth Financial Co. (NYSE:FCF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 94,800 shares of the bank's stock, valued at approximately $1,473,000. Vest Financial LLC owned about 0.09% of First Commonwealth Financial at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FCF. Stonebridge Financial Group LLC bought a new stake in First Commonwealth Financial during the 4th quarter valued at approximately $2,147,000. Proficio Capital Partners LLC bought a new position in First Commonwealth Financial in the 4th quarter valued at approximately $304,000. Barclays PLC lifted its position in First Commonwealth Financial by 121.8% in the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank's stock valued at $3,631,000 after acquiring an additional 116,295 shares in the last quarter. JPMorgan Chase & Co. lifted its position in First Commonwealth Financial by 46.6% in the 4th quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank's stock valued at $15,693,000 after acquiring an additional 295,011 shares in the last quarter. Finally, Amundi raised its stake in First Commonwealth Financial by 187.4% during the 4th quarter. Amundi now owns 51,631 shares of the bank's stock valued at $847,000 after buying an additional 33,666 shares during the last quarter. 72.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

FCF has been the subject of a number of research reports. Wall Street Zen lowered shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, May 7th. Keefe, Bruyette & Woods dropped their target price on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. Finally, Royal Bank of Canada dropped their price objective on shares of First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One investment 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. According to data from MarketBeat, First Commonwealth Financial presently has an average rating of "Hold" and a consensus target price of $18.92.

Insider Transactions at First Commonwealth Financial

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 shares were purchased at an average cost of $16.09 per share, for a total transaction of $112,630.00. Following the completion of the purchase, the director now owns 10,500 shares in the company, valued at approximately $168,945. This trade represents a 200.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.17% of the company's stock.

First Commonwealth Financial Stock Up 2.5%

Shares of NYSE FCF opened at $15.79 on Friday. The firm's 50-day moving average price is $15.25 and its 200-day moving average price is $16.27. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The stock 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 Co. has a 12-month low of $12.71 and a 12-month high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 earnings per share 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 for the quarter, compared to analyst estimates of $117.70 million. During the same period in the prior year, the company posted $0.37 EPS. The firm's revenue for the quarter 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 fiscal year.

First Commonwealth Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.42%. First Commonwealth Financial's dividend payout ratio (DPR) 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.

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