First Commonwealth Financial Co. (NYSE:FCF) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its position in First Commonwealth Financial Co. (NYSE:FCF) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 268,946 shares of the bank’s stock after selling 27,892 shares during the period. Ameriprise Financial Inc. owned approximately 0.26% of First Commonwealth Financial worth $4,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its holdings in shares of First Commonwealth Financial by 5.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 13,402 shares of the bank’s stock valued at $227,000 after acquiring an additional 705 shares during the last quarter. Sei Investments Co. lifted its position in First Commonwealth Financial by 3.9% during the fourth quarter. Sei Investments Co. now owns 23,857 shares of the bank’s stock valued at $404,000 after purchasing an additional 895 shares during the period. Aigen Investment Management LP boosted its holdings in First Commonwealth Financial by 6.0% in the fourth quarter. Aigen Investment Management LP now owns 17,398 shares of the bank’s stock valued at $294,000 after purchasing an additional 983 shares during the last quarter. Bank of Montreal Can boosted its holdings in First Commonwealth Financial by 6.2% in the fourth quarter. Bank of Montreal Can now owns 17,932 shares of the bank’s stock valued at $303,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in First Commonwealth Financial by 56.8% during the 4th quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank’s stock worth $57,000 after purchasing an additional 1,227 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock opened at $15.43 on Monday. The stock has a market capitalization of $1.62 billion, a P/E ratio of 11.10 and a beta of 0.77. The company’s fifty day moving average price is $15.27 and its 200 day moving average price is $16.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.93. First Commonwealth Financial Co. has a 1 year low of $12.71 and a 1 year high of $19.96.

First Commonwealth Financial (NYSE:FCF) 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 business had revenue of $118.51 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 earnings per share. As a group, equities research analysts anticipate that First Commonwealth Financial Co. will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.50%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, May 9th. First Commonwealth Financial’s payout ratio is presently 40.30%.

Insider Buying and Selling

In other news, Director Todd D. Brice bought 7,000 shares of First Commonwealth Financial stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of $16.09 per share, with a total value of $112,630.00. Following the completion of the acquisition, the director now directly owns 10,500 shares of the company’s stock, valued at $168,945. The trade was a 200.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FCF has been the subject of several analyst reports. DA Davidson reissued a “buy” rating and issued a $21.00 price objective on shares of First Commonwealth Financial in a report on Thursday, January 30th. Stephens reissued an “overweight” rating and issued a $21.50 price target on shares of First Commonwealth Financial in a report on Wednesday, January 29th. Royal Bank of Canada lowered their price objective on First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of First Commonwealth Financial from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, May 2nd. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.