Boston Partners Grows Stock Position in First Commonwealth Financial Corporation $FCF

Boston Partners lifted its position in First Commonwealth Financial Corporation (NYSE:FCF) by 5.0% during the second quarter, HoldingsChannel.com reports. The fund owned 107,335 shares of the bank’s stock after acquiring an additional 5,065 shares during the period. Boston Partners’ holdings in First Commonwealth Financial were worth $1,742,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in First Commonwealth Financial by 2.5% in the 2nd quarter. Amalgamated Bank now owns 29,654 shares of the bank’s stock valued at $481,000 after purchasing an additional 716 shares in the last quarter. Bank of Montreal Can raised its position in shares of First Commonwealth Financial by 3.4% in the second quarter. Bank of Montreal Can now owns 22,304 shares of the bank’s stock valued at $362,000 after buying an additional 730 shares during the last quarter. CWM LLC lifted its stake in shares of First Commonwealth Financial by 10.0% in the second quarter. CWM LLC now owns 8,724 shares of the bank’s stock worth $142,000 after buying an additional 792 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of First Commonwealth Financial by 0.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 121,512 shares of the bank’s stock worth $1,972,000 after buying an additional 907 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in First Commonwealth Financial by 5.8% during the first quarter. PNC Financial Services Group Inc. now owns 16,715 shares of the bank’s stock worth $260,000 after acquiring an additional 918 shares during the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Commonwealth Financial

In related news, CFO James R. Reske sold 2,190 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $16.99, for a total value of $37,208.10. Following the sale, the chief financial officer directly owned 85,866 shares in the company, valued at approximately $1,458,863.34. The trade was a 2.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael P. Mccuen bought 2,826 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president directly owned 59,021 shares of the company’s stock, valued at $1,042,901.07. The trade was a 5.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 5,898 shares of company stock worth $99,664. Corporate insiders own 2.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FCF. DA Davidson downgraded shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Wednesday, October 8th. Zacks Research cut First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Finally, Wall Street Zen upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.63.

First Commonwealth Financial Stock Performance

NYSE:FCF opened at $15.98 on Friday. The company’s 50-day moving average is $16.57 and its two-hundred day moving average is $16.45. First Commonwealth Financial Corporation has a 1-year low of $13.54 and a 1-year 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 firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 11.58 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly 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 return on equity of 10.12% and a net margin of 20.00%.The firm had revenue of $135.98 million for the quarter, compared to analyst estimates of $136.30 million. During the same quarter in the prior year, the business earned $0.31 EPS. Analysts forecast that First Commonwealth Financial Corporation will post 1.45 EPS 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 $0.135 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.54 dividend on an annualized basis and a yield of 3.4%. First Commonwealth Financial’s payout ratio is currently 39.13%.

First Commonwealth Financial Company Profile

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.