JPMorgan Chase & Co. Acquires 295,011 Shares of First Commonwealth Financial Co. (NYSE:FCF)

JPMorgan Chase & Co. grew its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 46.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 927,453 shares of the bank's stock after buying an additional 295,011 shares during the period. JPMorgan Chase & Co. owned 0.91% of First Commonwealth Financial worth $15,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new stake in First Commonwealth Financial in the 4th quarter valued at approximately $42,000. Wilmington Savings Fund Society FSB acquired a new position in shares of First Commonwealth Financial during the third quarter valued at $46,000. Smartleaf Asset Management LLC raised its stake in shares of First Commonwealth Financial by 173.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,396 shares of the bank's stock valued at $57,000 after purchasing an additional 2,154 shares in the last quarter. 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 worth $57,000 after purchasing an additional 1,227 shares during the period. 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 worth $77,000 after purchasing an additional 1,873 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

FCF has been the topic of a number of recent analyst reports. Stephens restated an "overweight" rating and set a $21.50 price target on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. StockNews.com downgraded First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. DA Davidson reaffirmed a "buy" rating and set a $21.00 price target on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 price target on shares of First Commonwealth Financial in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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, hitting $14.35. 644,492 shares of the company were exchanged, compared to its average volume of 597,145. First Commonwealth Financial Co. has a twelve month low of $12.24 and a twelve month high of $19.96. The company's 50 day moving average price is $15.69 and its 200-day moving average price is $16.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $1.46 billion, a P/E ratio of 10.32 and a beta of 0.72.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings data 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 return on equity of 10.36% and a net margin of 20.38%. Analysts predict that First Commonwealth Financial Co. will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

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

About First Commonwealth Financial

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.