State of Tennessee Department of Treasury Has $1.01 Million Stake in First Commonwealth Financial Co. (NYSE:FCF)

State of Tennessee Department of Treasury lowered its position in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 30.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 59,497 shares of the bank's stock after selling 25,692 shares during the period. State of Tennessee Department of Treasury owned 0.06% of First Commonwealth Financial worth $1,007,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new position in shares of First Commonwealth Financial during the fourth quarter worth approximately $42,000. Wilmington Savings Fund Society FSB bought a new position in shares of First Commonwealth Financial in the third quarter worth $46,000. Sterling Capital Management LLC raised its stake in shares of First Commonwealth Financial by 815.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank's stock valued at $54,000 after purchasing an additional 2,839 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in First Commonwealth Financial by 173.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank's stock worth $57,000 after purchasing an additional 2,154 shares during the period. Finally, Jones Financial Companies Lllp grew its position in First Commonwealth Financial by 56.8% in the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank's stock valued at $57,000 after buying an additional 1,227 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors.

First Commonwealth Financial Trading Down 0.5 %

NYSE FCF traded down $0.08 on Monday, hitting $15.81. 450,803 shares of the company were exchanged, compared to its average volume of 617,915. The company's 50 day moving average price is $15.27 and its 200-day moving average price is $16.61. The firm has a market capitalization of $1.61 billion, a P/E ratio of 11.38 and a beta of 0.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92. First Commonwealth Financial Co. has a twelve month low of $12.71 and a twelve month high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its earnings results on Tuesday, April 29th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $118.51 million for the quarter, compared to the consensus estimate 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 was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 EPS. Analysts predict that First Commonwealth Financial Co. will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.135 dividend. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.13. The ex-dividend date is Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.42%. First Commonwealth Financial's dividend payout ratio is currently 40.30%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FCF. Keefe, Bruyette & Woods decreased their price objective on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating for the company in a report on Friday. Royal Bank of Canada decreased their target price 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 issued a $21.00 price target on shares of First Commonwealth Financial in a research report on Thursday, January 30th. StockNews.com cut shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, April 23rd. Finally, Stephens reissued an "overweight" rating and set a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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.