Voloridge Investment Management LLC Has $2.16 Million Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Voloridge Investment Management LLC raised its stake in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 23.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,735 shares of the bank's stock after buying an additional 24,427 shares during the period. Voloridge Investment Management LLC owned approximately 0.13% of First Commonwealth Financial worth $2,161,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of First Commonwealth Financial by 46.6% in 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. Norges Bank acquired a new position in First Commonwealth Financial during the fourth quarter worth about $4,536,000. First Trust Advisors LP raised its position in First Commonwealth Financial by 19.9% in the fourth quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank's stock worth $21,461,000 after acquiring an additional 210,876 shares in the last quarter. Northern Trust Corp lifted its holdings in First Commonwealth Financial by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,483,405 shares of the bank's stock valued at $25,099,000 after acquiring an additional 179,250 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of First Commonwealth Financial by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank's stock valued at $66,947,000 after purchasing an additional 173,817 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company's stock.

First Commonwealth Financial Trading Down 1.2%

Shares of FCF traded down $0.19 during midday trading on Monday, hitting $15.43. The stock had a trading volume of 286,609 shares, compared to its average volume of 630,096. The business has a 50-day simple moving average of $15.25 and a two-hundred day simple moving average of $16.34. The firm has a market cap of $1.62 billion, a P/E ratio of 11.10 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. First Commonwealth Financial Co. has a fifty-two week low of $12.71 and a fifty-two week 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 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 firm had revenue of $118.51 million during the quarter, compared to analyst estimates of $117.70 million. During the same quarter last year, the business posted $0.37 EPS. The company's revenue was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued 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 3.50%. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's dividend payout ratio is presently 40.30%.

Insider Transactions at First Commonwealth Financial

In related news, Director Todd D. Brice purchased 7,000 shares of First Commonwealth Financial stock in a transaction on Tuesday, May 13th. The stock was bought 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 now directly owns 10,500 shares of the company's stock, valued at approximately $168,945. This represents a 200.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on FCF shares. Royal Bank of Canada dropped their target price 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 lowered 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 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, First Commonwealth Financial presently has an average rating of "Hold" and an average price target 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.