First Commonwealth Financial Co. (NYSE:FCF) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its position in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 13.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,483,405 shares of the bank's stock after buying an additional 179,250 shares during the period. Northern Trust Corp owned approximately 1.46% of First Commonwealth Financial worth $25,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in shares of First Commonwealth Financial during the 4th quarter worth approximately $2,147,000. Proficio Capital Partners LLC purchased a new position in shares of First Commonwealth Financial during the 4th quarter worth approximately $304,000. Barclays PLC boosted its position in shares of First Commonwealth Financial by 121.8% during the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank's stock worth $3,631,000 after purchasing an additional 116,295 shares during the period. JPMorgan Chase & Co. boosted its position in shares of First Commonwealth Financial by 46.6% during the 4th quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank's stock worth $15,693,000 after purchasing an additional 295,011 shares during the period. Finally, Amundi boosted its position in shares of First Commonwealth Financial by 187.4% during the 4th quarter. Amundi now owns 51,631 shares of the bank's stock worth $847,000 after purchasing an additional 33,666 shares during the period. Institutional investors and hedge funds own 72.58% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FCF shares. Royal Bank of Canada lowered 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 research report on Thursday, May 1st. DA Davidson reaffirmed a "buy" rating and set a $21.00 price objective on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Stephens reaffirmed an "overweight" rating and set a $21.50 price objective on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. StockNews.com 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 decreased 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 analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.92.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock opened at $15.63 on Monday. The stock has a market cap of $1.59 billion, a P/E ratio of 11.24 and a beta of 0.77. The company has a fifty day simple moving average of $15.22 and a 200-day simple moving average of $16.56. First Commonwealth Financial Co. has a 12-month low of $12.71 and a 12-month high of $19.96. 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 (NYSE:FCF - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $118.51 million during the quarter, compared to analysts' expectations of $117.70 million. First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. The company's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Equities analysts expect that First Commonwealth Financial Co. will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.135 per share. This is a boost from First Commonwealth Financial's previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, May 9th. First Commonwealth Financial's payout ratio 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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