Intech Investment Management LLC Has $1.60 Million Stock Position in First Commonwealth Financial Corporation $FCF

Intech Investment Management LLC reduced its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 16.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 98,474 shares of the bank’s stock after selling 19,051 shares during the period. Intech Investment Management LLC’s holdings in First Commonwealth Financial were worth $1,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCF. Entropy Technologies LP acquired a new position in First Commonwealth Financial during the first quarter worth $400,000. Envestnet Portfolio Solutions Inc. bought a new stake in First Commonwealth Financial during the 2nd quarter worth about $411,000. Voya Investment Management LLC lifted its position in First Commonwealth Financial by 393.5% during the 1st quarter. Voya Investment Management LLC now owns 161,216 shares of the bank’s stock worth $2,505,000 after buying an additional 128,547 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of First Commonwealth Financial during the 1st quarter worth about $230,000. Finally, Nuveen LLC bought a new position in shares of First Commonwealth Financial in the 1st quarter valued at about $5,077,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FCF. Wall Street Zen upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Wednesday, October 8th. DA Davidson cut First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Zacks Research cut shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, First Commonwealth Financial presently has a consensus rating of “Moderate Buy” and an average target price of $19.63.

First Commonwealth Financial Price Performance

Shares of NYSE FCF opened at $16.11 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average price is $16.38 and its two-hundred day moving average price is $16.45. The company has a market cap of $1.67 billion, a PE ratio of 11.67 and a beta of 0.86. First Commonwealth Financial Corporation has a twelve month low of $13.54 and a twelve month high of $19.96.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, October 28th. The bank reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). First Commonwealth Financial had a return on equity of 10.12% and a net margin of 20.00%.The business had revenue of $135.98 million for the quarter, compared to the consensus estimate of $136.30 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, analysts predict that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.54 annualized dividend and a dividend yield of 3.4%. First Commonwealth Financial’s dividend payout ratio is presently 39.13%.

Insider Activity

In related news, CFO James R. Reske sold 2,190 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $16.99, for a total value of $37,208.10. Following the transaction, the chief financial officer owned 85,866 shares in the company, valued at approximately $1,458,863.34. This represents a 2.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Mccuen purchased 3,090 shares of the stock in a transaction on Friday, November 21st. The stock was bought at an average cost of $16.19 per share, for a total transaction of $50,027.10. Following the completion of the acquisition, the executive vice president owned 62,111 shares in the company, valued at approximately $1,005,577.09. This trade represents a 5.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 6,916 shares of company stock valued at $115,233 and have sold 5,898 shares valued at $99,664. Insiders own 2.17% of the company’s stock.

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.