Atlantic Union Bankshares Corp Invests $3.39 Million in First Commonwealth Financial Corporation $FCF

Atlantic Union Bankshares Corp acquired a new stake in First Commonwealth Financial Corporation (NYSE:FCF) in the 2nd quarter, HoldingsChannel reports. The fund acquired 208,544 shares of the bank’s stock, valued at approximately $3,385,000.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in First Commonwealth Financial by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 576,222 shares of the bank’s stock valued at $8,954,000 after purchasing an additional 18,825 shares during the last quarter. Entropy Technologies LP bought a new stake in First Commonwealth Financial in the first quarter valued at approximately $400,000. Voya Investment Management LLC lifted its position in shares of First Commonwealth Financial by 393.5% in the first quarter. Voya Investment Management LLC now owns 161,216 shares of the bank’s stock valued at $2,505,000 after buying an additional 128,547 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of First Commonwealth Financial during the 1st quarter worth approximately $230,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of First Commonwealth Financial during the 2nd quarter worth approximately $411,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

First Commonwealth Financial Stock Down 1.2%

FCF stock opened at $15.62 on Friday. First Commonwealth Financial Corporation has a fifty-two week low of $13.54 and a fifty-two week high of $19.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.32 and a beta of 0.86. The business’s fifty day moving average price is $16.80 and its two-hundred day moving average price is $16.41.

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

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, November 7th. First Commonwealth Financial’s dividend payout ratio is presently 39.13%.

Insider Activity at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen purchased 2,826 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $17.67 per share, for a total transaction of $49,935.42. Following the completion of the transaction, the executive vice president owned 59,021 shares in the company, valued at approximately $1,042,901.07. This represents a 5.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO James R. Reske sold 2,190 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $16.99, for a total value of $37,208.10. Following the completion of the sale, the chief financial officer owned 85,866 shares of the company’s stock, valued at approximately $1,458,863.34. This trade represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.17% of the stock is currently owned by company insiders.

About First Commonwealth Financial

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.