Renaissance Technologies LLC Purchases New Holdings in First Commonwealth Financial Co. (NYSE:FCF)

Renaissance Technologies LLC acquired a new position in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 65,200 shares of the bank's stock, valued at approximately $1,103,000. Renaissance Technologies LLC owned about 0.06% of First Commonwealth Financial as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 173,817 shares during the period. Franklin Resources Inc. raised its stake in shares of First Commonwealth Financial by 15.3% during the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank's stock valued at $58,601,000 after purchasing an additional 456,119 shares during the period. American Century Companies Inc. lifted its position in shares of First Commonwealth Financial by 0.5% during the fourth quarter. American Century Companies Inc. now owns 1,992,712 shares of the bank's stock worth $33,717,000 after purchasing an additional 9,588 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in First Commonwealth Financial by 46.6% during the 4th quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank's stock valued at $15,693,000 after purchasing an additional 295,011 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in First Commonwealth Financial by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 557,397 shares of the bank's stock worth $9,431,000 after buying an additional 18,433 shares during the period. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

First Commonwealth Financial Price Performance

NYSE:FCF traded down $0.06 during midday trading on Monday, hitting $15.83. 28,305 shares of the stock were exchanged, compared to its average volume of 806,538. First Commonwealth Financial Co. has a one year low of $12.71 and a one year high of $19.96. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 11.38 and a beta of 0.72. The business has a 50-day moving average price of $15.27 and a two-hundred day moving average price of $16.61. 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 announced 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 firm had revenue of $118.51 million during the quarter, compared to the consensus estimate of $117.70 million. First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. The business's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. Sell-side analysts predict that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's dividend payout ratio is 40.30%.

Analysts Set New Price Targets

A number of research firms recently commented on FCF. Royal Bank of Canada decreased their price target on First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Thursday. DA Davidson reiterated a "buy" rating and set a $21.00 target price on shares of First Commonwealth Financial in a research note on Thursday, January 30th. StockNews.com lowered shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Stephens restated an "overweight" rating and issued a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reduced 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, First Commonwealth Financial presently has an average rating of "Hold" and a consensus 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.