Hsbc Holdings PLC Takes Position in First Commonwealth Financial Corporation $FCF

Hsbc Holdings PLC bought a new stake in First Commonwealth Financial Corporation (NYSE:FCF) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 44,260 shares of the bank’s stock, valued at approximately $746,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DGS Capital Management LLC acquired a new position in First Commonwealth Financial during the fourth quarter worth $175,000. Mercer Global Advisors Inc. ADV acquired a new stake in First Commonwealth Financial in the fourth quarter valued at $907,000. Fuller & Thaler Asset Management Inc. lifted its stake in First Commonwealth Financial by 6.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank’s stock valued at $42,422,000 after acquiring an additional 162,079 shares during the last quarter. Voloridge Investment Management LLC grew its position in shares of First Commonwealth Financial by 23.4% in the 4th quarter. Voloridge Investment Management LLC now owns 367,438 shares of the bank’s stock valued at $6,195,000 after acquiring an additional 69,728 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of First Commonwealth Financial in the 4th quarter valued at about $15,685,000. 72.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, 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 issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

First Commonwealth Financial Trading Up 0.0%

FCF stock opened at $20.43 on Wednesday. First Commonwealth Financial Corporation has a one year low of $15.00 and a one year high of $20.87. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 13.53 and a beta of 0.74. The company has a fifty day moving average price of $19.36 and a two-hundred day moving average price of $18.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, April 28th. The bank reported $0.37 earnings per share 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. Equities analysts anticipate that First Commonwealth Financial Corporation will post 1.71 EPS for the current year.

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.14 dividend. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 37.09%.

Insider Activity at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Norman J. Montgomery sold 25,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $18.34, for a total value of $458,500.00. Following the transaction, the executive vice president directly owned 63,068 shares of the company’s stock, valued at $1,156,667.12. This represents a 28.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James R. Reske sold 2,072 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $20.50, for a total transaction of $42,476.00. Following the sale, the chief financial officer owned 77,204 shares of the company’s stock, valued at $1,582,682. This trade represents a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 49,430 shares of company stock worth $914,266. Insiders own 1.90% of the company’s stock.

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.