SG Americas Securities LLC trimmed its holdings in First Commonwealth Financial Corporation (NYSE:FCF – Free Report) by 31.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,728 shares of the bank’s stock after selling 31,248 shares during the quarter. SG Americas Securities LLC’s holdings in First Commonwealth Financial were worth $1,173,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in First Commonwealth Financial by 2,250.5% in 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 period. Smithfield Trust Co acquired a new position in First Commonwealth Financial during the 4th quarter worth $51,000. TD Private Client Wealth LLC boosted its position in First Commonwealth Financial by 20.7% during the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock worth $61,000 after acquiring an additional 621 shares during the period. iSAM Funds UK Ltd bought a new position in shares of First Commonwealth Financial in the third quarter worth $85,000. Finally, GAMMA Investing LLC grew its stake in shares of First Commonwealth Financial by 29.7% in the fourth quarter. GAMMA Investing LLC now owns 6,378 shares of the bank’s stock worth $108,000 after purchasing an additional 1,460 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, First Commonwealth Financial has a consensus rating of “Moderate Buy” and an average target price of $20.33.
Insider Buying and Selling at First Commonwealth Financial
In other First Commonwealth Financial news, CFO James R. Reske sold 2,072 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $18.93, for a total transaction of $39,222.96. Following the completion of the transaction, the chief financial officer directly owned 79,276 shares of the company’s stock, valued at approximately $1,500,694.68. This trade represents a 2.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Mccuen sold 5,250 shares of First Commonwealth Financial stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total value of $97,545.00. Following the transaction, the executive vice president owned 56,861 shares in the company, valued at approximately $1,056,477.38. This trade represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 49,430 shares of company stock valued at $908,796. 1.90% of the stock is owned by corporate insiders.
First Commonwealth Financial Trading Down 0.1%
Shares of NYSE:FCF opened at $20.45 on Friday. The company has a 50 day moving average of $19.13 and a 200-day moving average of $18.21. The firm has a market cap of $2.08 billion, a P/E ratio of 13.54 and a beta of 0.74. First Commonwealth Financial Corporation has a twelve month low of $15.00 and a twelve month high of $20.87. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09.
First Commonwealth Financial (NYSE:FCF – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. The company had revenue of $133.70 million during the quarter, compared to the consensus estimate of $134.32 million. During the same quarter last year, the business earned $0.32 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, analysts anticipate that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current fiscal year.
First Commonwealth Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 8th. First Commonwealth Financial’s payout ratio is currently 37.09%.
First Commonwealth Financial Company 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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