Easterly Investment Partners LLC decreased its position in First Commonwealth Financial Corporation (NYSE:FCF – Free Report) by 42.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,443 shares of the bank’s stock after selling 50,322 shares during the quarter. Easterly Investment Partners LLC’s holdings in First Commonwealth Financial were worth $1,154,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in shares of First Commonwealth Financial by 103.0% in the 4th quarter. UBS Group AG now owns 210,197 shares of the bank’s stock worth $3,544,000 after purchasing an additional 106,654 shares during the period. SG Americas Securities LLC raised its position in First Commonwealth Financial by 146.5% during the 4th quarter. SG Americas Securities LLC now owns 97,976 shares of the bank’s stock valued at $1,652,000 after purchasing an additional 58,229 shares in the last quarter. Wakefield Asset Management LLLP bought a new stake in First Commonwealth Financial during the 3rd quarter valued at $1,160,000. JPMorgan Chase & Co. raised its position in shares of First Commonwealth Financial by 17.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 760,796 shares of the bank’s stock worth $12,972,000 after acquiring an additional 111,586 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of First Commonwealth Financial by 14.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 406,469 shares of the bank’s stock worth $6,930,000 after acquiring an additional 49,853 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.33.
Insider Activity at First Commonwealth Financial
In related news, CFO James R. Reske sold 2,072 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $18.52, for a total value of $38,373.44. Following the sale, the chief financial officer owned 81,348 shares of the company’s stock, valued at approximately $1,506,564.96. This represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Norman J. Montgomery sold 25,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $18.34, for a total value of $458,500.00. Following the sale, the executive vice president owned 63,068 shares of the company’s stock, valued at approximately $1,156,667.12. The trade was a 28.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 44,180 shares of company stock worth $808,454 in the last quarter. 1.90% of the stock is currently owned by insiders.
First Commonwealth Financial Price Performance
Shares of First Commonwealth Financial stock opened at $18.64 on Tuesday. The business has a 50 day simple moving average of $18.32 and a two-hundred day simple moving average of $17.63. First Commonwealth Financial Corporation has a 12 month low of $15.00 and a 12 month high of $19.14. The stock has a market capitalization of $1.90 billion, a P/E ratio of 12.35 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.92.
First Commonwealth Financial (NYSE:FCF – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $133.70 million during the quarter, compared to analyst estimates of $134.32 million. First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. First Commonwealth Financial’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. As a group, analysts predict that First Commonwealth Financial Corporation will post 1.71 EPS for the current fiscal year.
First Commonwealth Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.14 dividend. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 3.0%. First Commonwealth Financial’s payout ratio is presently 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.
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