Choreo LLC Takes Position in First Commonwealth Financial Corporation (NYSE:FCF)

Choreo LLC bought a new position in First Commonwealth Financial Corporation (NYSE:FCF) during the first quarter, according to its most recent filing with the SEC. The firm bought 10,015 shares of the bank’s stock, valued at approximately $156,000.

Several other hedge funds have also bought and sold shares of FCF. JPMorgan Chase & Co. raised its stake in shares of First Commonwealth Financial by 46.6% in the fourth quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank’s stock worth $15,693,000 after purchasing an additional 295,011 shares during the last quarter. Norges Bank purchased a new stake in First Commonwealth Financial in the 4th quarter valued at $4,536,000. First Trust Advisors LP raised its position in First Commonwealth Financial by 19.9% in the 4th quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank’s stock valued at $21,461,000 after buying an additional 210,876 shares during the last quarter. Northern Trust Corp lifted its stake in First Commonwealth Financial by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,483,405 shares of the bank’s stock valued at $25,099,000 after acquiring an additional 179,250 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in First Commonwealth Financial during the 4th quarter worth $2,308,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

Insider Transactions at First Commonwealth Financial

In other First Commonwealth Financial news, Director Todd D. Brice bought 7,000 shares of First Commonwealth Financial stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average price of $16.09 per share, for a total transaction of $112,630.00. Following the completion of the purchase, the director directly owned 10,500 shares of the company’s stock, valued at approximately $168,945. This trade represents a 200.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.17% of the company’s stock.

Analyst Upgrades and Downgrades

FCF has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price 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, May 2nd. Wall Street Zen cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada reduced their target price on First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.90.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $16.48 on Friday. The company has a market capitalization of $1.73 billion, a PE ratio of 12.68 and a beta of 0.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.93. First Commonwealth Financial Corporation has a 52-week low of $13.54 and a 52-week high of $19.96. The company has a 50-day simple moving average of $16.20 and a 200 day simple moving average of $15.92.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, July 29th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $131.33 million during the quarter, compared to analyst estimates of $125.88 million. First Commonwealth Financial had a net margin of 18.94% and a return on equity of 9.71%. During the same quarter last year, the business posted $0.37 EPS. On average, research analysts predict that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, August 8th. First Commonwealth Financial’s payout ratio is currently 40.30%.

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.