Bank of New York Mellon Corp lessened its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF – Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,458,649 shares of the bank’s stock after selling 77,167 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.42% of First Commonwealth Financial worth $18,452,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in shares of First Commonwealth Financial by 173.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the bank’s stock valued at $51,000 after buying an additional 2,594 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake in shares of First Commonwealth Financial by 14.1% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,758 shares of the bank’s stock valued at $80,000 after buying an additional 710 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of First Commonwealth Financial by 16.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 8,169 shares of the bank’s stock valued at $102,000 after buying an additional 1,164 shares in the last quarter. KBC Group NV grew its stake in shares of First Commonwealth Financial by 23.2% in the 1st quarter. KBC Group NV now owns 8,402 shares of the bank’s stock valued at $104,000 after buying an additional 1,581 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of First Commonwealth Financial by 20.5% in the 3rd quarter. Captrust Financial Advisors now owns 10,234 shares of the bank’s stock valued at $131,000 after buying an additional 1,739 shares in the last quarter. Hedge funds and other institutional investors own 66.73% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on FCF. StockNews.com lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Royal Bank of Canada reduced their target price on First Commonwealth Financial from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, October 26th.
In other news, EVP Carrie L. Riggle sold 7,563 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $13.21, for a total value of $99,907.23. Following the completion of the sale, the executive vice president now directly owns 46,309 shares of the company’s stock, valued at $611,741.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is owned by company insiders.
First Commonwealth Financial Stock Up 1.5 %
Shares of FCF stock opened at $12.59 on Tuesday. First Commonwealth Financial Co. has a 12 month low of $11.16 and a 12 month high of $16.53. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.29 billion, a PE ratio of 8.51 and a beta of 0.90. The stock has a 50 day moving average of $12.36 and a 200-day moving average of $12.92.
First Commonwealth Financial (NYSE:FCF – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). First Commonwealth Financial had a net margin of 25.57% and a return on equity of 13.85%. The business had revenue of $164.71 million during the quarter, compared to the consensus estimate of $123.21 million. During the same period in the prior year, the company posted $0.37 earnings per share. On average, equities analysts predict that First Commonwealth Financial Co. will post 1.65 EPS for the current year.
First Commonwealth Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be given a $0.125 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.50 annualized dividend and a dividend yield of 3.97%. First Commonwealth Financial’s dividend payout ratio is 33.78%.
First Commonwealth Financial 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.
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