Y Intercept Hong Kong Ltd Boosts Stake in First Commonwealth Financial Corporation $FCF

Y Intercept Hong Kong Ltd increased its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 83.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,419 shares of the bank’s stock after purchasing an additional 45,803 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.10% of First Commonwealth Financial worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. State Street Corp increased its holdings in First Commonwealth Financial by 4.7% in the 4th quarter. State Street Corp now owns 4,854,021 shares of the bank’s stock worth $81,839,000 after buying an additional 216,099 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in First Commonwealth Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,376,999 shares of the bank’s stock valued at $73,796,000 after acquiring an additional 34,594 shares during the period. Franklin Resources Inc. boosted its holdings in shares of First Commonwealth Financial by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,943,604 shares of the bank’s stock valued at $67,238,000 after acquiring an additional 21,061 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of First Commonwealth Financial by 6.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank’s stock valued at $42,422,000 after acquiring an additional 162,079 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of First Commonwealth Financial by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,467,460 shares of the bank’s stock worth $41,607,000 after acquiring an additional 6,421 shares during the period. 72.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, First Commonwealth Financial currently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

Insider Transactions at First Commonwealth Financial

In other news, CFO James R. Reske sold 2,072 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.50, for a total value of $42,476.00. Following the transaction, the chief financial officer owned 77,204 shares of the company’s stock, valued at $1,582,682. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Mccuen sold 5,250 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total transaction of $97,545.00. Following the completion of the sale, the executive vice president directly owned 56,861 shares of the company’s stock, valued at $1,056,477.38. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,430 shares of company stock valued at $914,266 over the last quarter. 1.90% of the stock is currently owned by company insiders.

First Commonwealth Financial Trading Up 1.4%

Shares of FCF stock opened at $20.25 on Friday. First Commonwealth Financial Corporation has a 1 year low of $15.00 and a 1 year high of $20.87. The firm has a fifty day moving average price of $19.25 and a 200-day moving average price of $18.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 13.41 and a beta of 0.74.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The company had revenue of $133.70 million during the quarter, compared to the consensus estimate of $134.32 million. During the same period in the prior year, the business posted $0.32 earnings per share. First Commonwealth Financial’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current year.

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.14 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a yield of 2.8%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 37.09%.

First Commonwealth Financial Profile

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.