Trexquant Investment LP Cuts Position in First Commonwealth Financial Co. (NYSE:FCF)

Trexquant Investment LP decreased its position in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 41.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,538 shares of the bank's stock after selling 29,285 shares during the quarter. Trexquant Investment LP's holdings in First Commonwealth Financial were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in First Commonwealth Financial during the fourth quarter worth about $42,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of First Commonwealth Financial during the 3rd quarter worth approximately $46,000. Smartleaf Asset Management LLC raised its position in shares of First Commonwealth Financial by 173.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank's stock valued at $57,000 after buying an additional 2,154 shares during the period. Jones Financial Companies Lllp lifted its holdings in First Commonwealth Financial by 56.8% in the fourth quarter. Jones Financial Companies Lllp now owns 3,388 shares of the bank's stock valued at $57,000 after acquiring an additional 1,227 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in First Commonwealth Financial by 69.2% in the fourth quarter. AlphaQuest LLC now owns 4,578 shares of the bank's stock valued at $77,000 after acquiring an additional 1,873 shares during the last quarter. Hedge funds and other institutional investors own 72.58% of the company's stock.

Remove Ads

Analyst Ratings Changes

FCF has been the topic of a number of research analyst reports. Stephens restated an "overweight" rating and issued a $21.50 target price on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. Royal Bank of Canada restated an "outperform" rating and issued a $20.00 price objective on shares of First Commonwealth Financial in a report on Thursday, January 30th. DA Davidson reaffirmed a "buy" rating and set a $21.00 target price on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, First Commonwealth Financial has a consensus rating of "Hold" and an average target price of $19.58.

First Commonwealth Financial Trading Up 1.6 %

NYSE:FCF traded up $0.23 on Tuesday, reaching $14.35. 644,492 shares of the company's stock were exchanged, compared to its average volume of 597,145. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 10.32 and a beta of 0.72. First Commonwealth Financial Co. has a 52-week low of $12.24 and a 52-week high of $19.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $15.69 and a 200-day moving average of $16.78.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. As a group, analysts expect that First Commonwealth Financial Co. will post 1.45 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, February 7th. First Commonwealth Financial's payout ratio is currently 37.41%.

First Commonwealth Financial Company 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.