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

Prudential Financial Inc. trimmed its holdings in First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,900 shares of the bank's stock after selling 62,978 shares during the period. Prudential Financial Inc. owned about 0.10% of First Commonwealth Financial worth $1,966,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in First Commonwealth Financial by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank's stock valued at $66,947,000 after acquiring an additional 173,817 shares in the last quarter. Franklin Resources Inc. increased its position in shares of First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank's stock worth $58,601,000 after purchasing an additional 456,119 shares during the last quarter. American Century Companies Inc. raised its stake in shares of First Commonwealth Financial by 0.5% in the 4th quarter. American Century Companies Inc. now owns 1,992,712 shares of the bank's stock valued at $33,717,000 after purchasing an additional 9,588 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of First Commonwealth Financial by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 557,397 shares of the bank's stock valued at $9,431,000 after purchasing an additional 18,433 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of First Commonwealth Financial by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 213,437 shares of the bank's stock worth $3,611,000 after purchasing an additional 6,091 shares during the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

First Commonwealth Financial Stock Performance

FCF stock traded up $0.66 during mid-day trading on Wednesday, reaching $14.82. The company had a trading volume of 1,804,350 shares, compared to its average volume of 591,256. First Commonwealth Financial Co. has a one year low of $12.41 and a one year high of $19.96. The stock has a market capitalization of $1.51 billion, a P/E ratio of 10.66 and a beta of 0.72. 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 stock's 50-day simple moving average is $15.85 and its two-hundred day simple moving average is $16.83.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings data 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 net margin of 20.38% and a return on equity of 10.36%. Research analysts anticipate that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Friday, February 7th. First Commonwealth Financial's dividend payout ratio is currently 37.41%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $20.00 price objective on shares of First Commonwealth Financial in a report on Thursday, January 30th. StockNews.com downgraded First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Friday, April 4th. DA Davidson restated a "buy" rating and set a $21.00 price objective on shares of First Commonwealth Financial in a research note on Thursday, January 30th. Finally, Stephens reiterated an "overweight" rating and set a $21.50 target price on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $19.58.

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.