First Trust Advisors LP Grows Position in First Commonwealth Financial Corporation $FCF

First Trust Advisors LP grew its position in First Commonwealth Financial Corporation (NYSE:FCF) by 42.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,997 shares of the bank’s stock after acquiring an additional 52,410 shares during the quarter. First Trust Advisors LP’s holdings in First Commonwealth Financial were worth $3,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of First Commonwealth Financial by 2,250.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock valued at $42,000 after acquiring an additional 2,498 shares during the last quarter. Smithfield Trust Co bought a new stake in First Commonwealth Financial in the fourth quarter worth $51,000. TD Private Client Wealth LLC increased its position in First Commonwealth Financial by 20.7% in the fourth quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock worth $61,000 after purchasing an additional 621 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in First Commonwealth Financial during the third quarter valued at $85,000. Finally, Smartleaf Asset Management LLC raised its stake in First Commonwealth Financial by 21.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,425 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,140 shares in the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Commonwealth Financial

In related news, CFO James R. Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $21.85, for a total transaction of $45,273.20. Following the transaction, the chief financial officer directly owned 75,132 shares of the company’s stock, valued at $1,641,634.20. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Mccuen sold 5,250 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total value 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. The trade was a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,466 shares of company stock worth $224,517 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

First Commonwealth Financial Stock Down 1.2%

Shares of FCF opened at $21.42 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $20.30 and a 200 day moving average of $18.85. The company has a market cap of $2.18 billion, a PE ratio of 13.14 and a beta of 0.75. First Commonwealth Financial Corporation has a 52-week low of $15.00 and a 52-week high of $22.34.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $139.42 million for the quarter, compared to analysts’ expectations of $137.48 million. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%. On average, sell-side analysts expect that First Commonwealth Financial Corporation will post 1.73 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 7th. First Commonwealth Financial’s dividend payout ratio is 34.36%.

Analyst Ratings Changes

FCF has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. Raymond James Financial restated an “outperform” rating and set a $24.00 target price on shares of First Commonwealth Financial in a research report on Friday, July 31st. Royal Bank Of Canada increased their price target on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price target (up from $21.00) on shares of First Commonwealth Financial in a research report on Thursday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.25.

About First Commonwealth Financial

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.