Sei Investments Co. grew its position in First Commonwealth Financial Corporation (NYSE:FCF – Free Report) by 71.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,958 shares of the bank’s stock after acquiring an additional 35,843 shares during the period. Sei Investments Co.’s holdings in First Commonwealth Financial were worth $1,511,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of FCF. UBS Group AG grew its holdings in First Commonwealth Financial by 103.0% during the fourth 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. Intech Investment Management LLC increased its position in First Commonwealth Financial by 147.1% during the fourth quarter. Intech Investment Management LLC now owns 239,641 shares of the bank’s stock worth $4,040,000 after buying an additional 142,645 shares during the last quarter. MQS Management LLC bought a new stake in First Commonwealth Financial in the fourth quarter valued at approximately $572,000. Y Intercept Hong Kong Ltd raised its stake in First Commonwealth Financial by 83.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 100,419 shares of the bank’s stock valued at $1,765,000 after buying an additional 45,803 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of First Commonwealth Financial by 42.8% in the first quarter. First Trust Advisors LP now owns 174,997 shares of the bank’s stock valued at $3,076,000 after buying an additional 52,410 shares during the last quarter. 72.58% of the stock is owned by institutional investors.
First Commonwealth Financial Price Performance
Shares of NYSE FCF opened at $21.44 on Tuesday. The business has a fifty day moving average price of $20.40 and a two-hundred day moving average price of $18.91. The stock has a market capitalization of $2.18 billion, a PE ratio of 13.15 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92. First Commonwealth Financial Corporation has a fifty-two week low of $15.00 and a fifty-two week high of $22.34.
First Commonwealth Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 7th. First Commonwealth Financial’s dividend payout ratio is presently 34.36%.
Insider Activity
In other news, EVP Michael P. Mccuen sold 5,250 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 owned 56,861 shares of the company’s stock, valued at approximately $1,056,477.38. This represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James R. Reske sold 2,072 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $21.85, for a total transaction of $45,273.20. Following the sale, the chief financial officer owned 75,132 shares in the company, valued at $1,641,634.20. This represents a 2.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 11,466 shares of company stock worth $224,517. Insiders own 1.90% of the company’s stock.
Wall Street Analysts Forecast Growth
FCF has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on 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. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 price target (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Royal Bank Of Canada lifted their price objective on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $24.00 price objective on shares of First Commonwealth Financial in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, First Commonwealth Financial currently has a consensus rating of “Moderate Buy” and an average price target of $24.25.
Check Out Our Latest Research Report on First Commonwealth Financial
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.
Featured Stories
- Five stocks we like better than First Commonwealth Financial
- SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat
- 3 Dividend Champion Utilities for a Market That Can’t Sit Still
- These 3 Most-Upgraded Stocks Have Almost Nothing to Do With AI
- First Solar’s Profit Engine Faces a New Policy Test in Washington
Want to see what other hedge funds are holding FCF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Commonwealth Financial Corporation (NYSE:FCF – Free Report).
Receive News & Ratings for First Commonwealth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial and related companies with MarketBeat.com's FREE daily email newsletter.
