First Commonwealth Financial Co. (NYSE:FCF) Position Reduced by Invesco Ltd.

Invesco Ltd. lowered its stake in First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 18.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 687,641 shares of the bank's stock after selling 160,431 shares during the period. Invesco Ltd. owned 0.68% of First Commonwealth Financial worth $11,635,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new position in shares of First Commonwealth Financial in the 4th quarter valued at 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. Jones Financial Companies Lllp lifted its holdings in shares of First Commonwealth Financial by 56.8% in 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 last quarter. Smartleaf Asset Management LLC grew its stake in First Commonwealth Financial by 173.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank's stock worth $57,000 after buying an additional 2,154 shares during the last quarter. Finally, AlphaQuest LLC increased its position in First Commonwealth Financial by 69.2% in the fourth quarter. AlphaQuest LLC now owns 4,578 shares of the bank's stock worth $77,000 after buying an additional 1,873 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Price Performance

Shares of NYSE FCF traded down $0.19 during mid-day trading on Friday, reaching $15.05. 693,283 shares of the company traded hands, compared to its average volume of 609,243. First Commonwealth Financial Co. has a fifty-two week low of $12.71 and a fifty-two week high of $19.96. The firm has a market cap of $1.53 billion, a PE ratio of 10.83 and a beta of 0.72. The stock has a fifty day simple moving average of $15.34 and a 200-day simple moving average of $16.66. 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 (NYSE:FCF - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. Equities research analysts anticipate that First Commonwealth Financial Co. will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Friday, February 7th. First Commonwealth Financial's dividend payout ratio (DPR) is presently 37.41%.

Analyst Upgrades and Downgrades

FCF has been the topic of a number of analyst reports. StockNews.com cut shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Wednesday. Royal Bank of Canada restated an "outperform" rating and issued a $20.00 price target on shares of First Commonwealth Financial in a research note on Thursday, January 30th. DA Davidson reiterated a "buy" rating and set a $21.00 price objective on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.58.

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.