Allspring Global Investments Holdings LLC reduced its position in shares of First Commonwealth Financial Co. (NYSE:FCF – Free Report) by 55.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,333 shares of the bank’s stock after selling 11,419 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First Commonwealth Financial were worth $118,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in First Commonwealth Financial by 10.4% during the 1st quarter. BlackRock Inc. now owns 15,208,918 shares of the bank’s stock worth $189,047,000 after purchasing an additional 1,433,284 shares during the period. State Street Corp increased its holdings in shares of First Commonwealth Financial by 13.7% in the 1st quarter. State Street Corp now owns 4,622,773 shares of the bank’s stock valued at $57,461,000 after acquiring an additional 555,443 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of First Commonwealth Financial by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,447,581 shares of the bank’s stock valued at $34,193,000 after acquiring an additional 199,077 shares during the period. Geode Capital Management LLC increased its holdings in shares of First Commonwealth Financial by 14.7% in the 1st quarter. Geode Capital Management LLC now owns 1,954,448 shares of the bank’s stock valued at $24,294,000 after acquiring an additional 249,926 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of First Commonwealth Financial by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,535,816 shares of the bank’s stock valued at $19,090,000 after acquiring an additional 60,534 shares during the period. 66.73% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other First Commonwealth Financial news, EVP Carrie L. Riggle sold 7,563 shares of First Commonwealth Financial stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $13.21, for a total transaction of $99,907.23. Following the completion of the sale, the executive vice president now owns 46,309 shares of the company’s stock, valued at approximately $611,741.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.85% of the stock is currently owned by insiders.
First Commonwealth Financial Stock Up 6.4 %
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 analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $164.71 million during the quarter, compared to analyst estimates of $123.21 million. First Commonwealth Financial had a return on equity of 13.85% and a net margin of 25.57%. During the same period in the previous year, the business earned $0.37 EPS. Equities research analysts forecast that First Commonwealth Financial Co. will post 1.65 EPS for the current fiscal 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 dividend on an annualized basis and a dividend yield of 3.73%. First Commonwealth Financial’s payout ratio is 33.78%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on FCF shares. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Royal Bank of Canada cut their price target on First Commonwealth Financial from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th.
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.
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