Short Interest in First Commonwealth Financial Co. (NYSE:FCF) Rises By 6.3%

First Commonwealth Financial Co. (NYSE:FCF - Get Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,190,000 shares, a growth of 6.3% from the February 29th total of 1,120,000 shares. Based on an average daily trading volume, of 496,800 shares, the days-to-cover ratio is presently 2.4 days.

First Commonwealth Financial Price Performance

NYSE:FCF traded down $0.15 during trading hours on Tuesday, reaching $13.50. 694,778 shares of the company were exchanged, compared to its average volume of 514,843. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.38 billion, a PE ratio of 8.76 and a beta of 0.87. First Commonwealth Financial has a twelve month low of $11.16 and a twelve month high of $15.90. The stock's 50-day moving average is $13.53 and its 200-day moving average is $13.51.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $168.55 million during the quarter, compared to analyst estimates of $123.17 million. First Commonwealth Financial had a return on equity of 13.78% and a net margin of 25.07%. During the same period in the previous year, the business earned $0.39 EPS. On average, sell-side analysts anticipate that First Commonwealth Financial will post 1.44 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.50 dividend on an annualized basis and a yield of 3.71%. First Commonwealth Financial's payout ratio is currently 32.47%.

Institutional Investors Weigh In On First Commonwealth Financial

A number of hedge funds have recently modified their holdings of the business. Comerica Bank acquired a new position in shares of First Commonwealth Financial during the 2nd quarter worth approximately $180,000. Emerald Advisers LLC acquired a new position in First Commonwealth Financial during the third quarter worth $49,000. Tower Research Capital LLC TRC grew its holdings in First Commonwealth Financial by 173.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the bank's stock valued at $51,000 after buying an additional 2,594 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of First Commonwealth Financial in the 4th quarter worth $74,000. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of First Commonwealth Financial by 14.1% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,758 shares of the bank's stock valued at $80,000 after acquiring an additional 710 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Stephens lowered their price objective on First Commonwealth Financial from $16.50 to $15.50 and set an "overweight" rating on the stock in a research report on Tuesday, February 6th. StockNews.com upgraded shares of First Commonwealth Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, February 7th.

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.