LSV Asset Management lessened its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF – Free Report) by 31.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,000 shares of the bank’s stock after selling 80,500 shares during the period. LSV Asset Management’s holdings in First Commonwealth Financial were worth $2,917,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. UBS Group AG grew its position in shares of First Commonwealth Financial by 103.0% during 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 in the last quarter. Wakefield Asset Management LLLP acquired a new position in shares of First Commonwealth Financial during the 3rd quarter worth approximately $1,160,000. SG Americas Securities LLC grew its position in shares of First Commonwealth Financial by 146.5% during the 4th quarter. SG Americas Securities LLC now owns 97,976 shares of the bank’s stock worth $1,652,000 after purchasing an additional 58,229 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of First Commonwealth Financial by 17.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 760,796 shares of the bank’s stock worth $12,972,000 after purchasing an additional 111,586 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of First Commonwealth Financial by 14.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 406,469 shares of the bank’s stock worth $6,930,000 after purchasing an additional 49,853 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on FCF shares. Keefe, Bruyette & Woods increased their target price on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Weiss Ratings reaffirmed 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.
First Commonwealth Financial Stock Performance
Shares of First Commonwealth Financial stock opened at $18.84 on Wednesday. The company has a 50 day moving average of $18.16 and a 200-day moving average of $17.55. First Commonwealth Financial Corporation has a 1-year low of $15.00 and a 1-year high of $19.14. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.92 billion, a PE ratio of 12.48 and a beta of 0.75.
First Commonwealth Financial (NYSE:FCF – Get Free Report) last issued its quarterly earnings data 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 the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. As a group, equities research analysts forecast that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current fiscal year.
First Commonwealth Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. First Commonwealth Financial’s payout ratio is currently 37.09%.
Insider Activity at First Commonwealth Financial
In related news, CFO James R. Reske sold 2,072 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $18.52, for a total value of $38,373.44. Following the completion of the transaction, the chief financial officer owned 81,348 shares of the company’s stock, valued at $1,506,564.96. This represents a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Norman J. Montgomery sold 25,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $18.34, for a total transaction of $458,500.00. Following the completion of the transaction, the executive vice president directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 44,180 shares of company stock valued at $808,454. 1.90% of the stock is owned by insiders.
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.
Read More
- Five stocks we like better than First Commonwealth Financial
- Banks Are Buying Back Stock Hand Over Fist, Including These 3 Names
- 2 Aluminum Stocks Poised for Big Tariff-Related Gains
- AutoZone’s Pullback Sets Up a Long-Term Buying Opportunity
- AST SpaceMobile’s June Launch Plan Puts Its 2026 Satellite Goal Back in Focus
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.
-logo-1200x675.png){kind=logo}