82,216 Shares in First Commonwealth Financial Co. (NYSE:FCF) Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new position in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 82,216 shares of the bank's stock, valued at approximately $1,269,000. Assenagon Asset Management S.A. owned about 0.08% of First Commonwealth Financial at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. increased its position in First Commonwealth Financial by 10.4% during the first quarter. BlackRock Inc. now owns 15,208,918 shares of the bank's stock worth $189,047,000 after buying an additional 1,433,284 shares during the last quarter. State Street Corp grew its position in shares of First Commonwealth Financial by 2.7% in the second quarter. State Street Corp now owns 4,746,009 shares of the bank's stock valued at $60,037,000 after purchasing an additional 123,236 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of First Commonwealth Financial by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,774,932 shares of the bank's stock valued at $33,882,000 after purchasing an additional 84,832 shares during the last quarter. Mariner LLC acquired a new stake in shares of First Commonwealth Financial in the third quarter valued at about $32,855,000. Finally, Geode Capital Management LLC grew its position in shares of First Commonwealth Financial by 3.6% in the second quarter. Geode Capital Management LLC now owns 2,025,719 shares of the bank's stock valued at $25,625,000 after purchasing an additional 71,271 shares during the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FCF shares. Stephens lowered their price target 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 note on Wednesday, February 7th.

First Commonwealth Financial Price Performance

FCF traded down $0.07 during midday trading on Friday, reaching $13.27. 386,027 shares of the company's stock were exchanged, compared to its average volume of 495,990. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 8.62 and a beta of 0.87. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.14. First Commonwealth Financial Co. has a one year low of $11.16 and a one year high of $15.90. The business has a 50-day simple moving average of $13.44 and a two-hundred day simple moving average of $13.52.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The bank reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. The firm had revenue of $168.55 million during the quarter, compared to analysts' expectations of $123.17 million. First Commonwealth Financial had a net margin of 25.07% and a return on equity of 13.78%. During the same quarter last year, the company earned $0.39 earnings per share. As a group, research analysts predict that First Commonwealth Financial Co. will post 1.44 EPS for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Thursday, February 8th. First Commonwealth Financial's payout ratio is currently 32.47%.

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.