Yousif Capital Management LLC Reduces Stock Position in First Commonwealth Financial Corporation (NYSE:FCF)

Yousif Capital Management LLC decreased its stake in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,583 shares of the bank’s stock after selling 911 shares during the period. Yousif Capital Management LLC’s holdings in First Commonwealth Financial were worth $584,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of First Commonwealth Financial by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,956,654 shares of the bank’s stock valued at $66,947,000 after purchasing an additional 173,817 shares during the last quarter. American Century Companies Inc. lifted its holdings in First Commonwealth Financial by 0.5% in the fourth quarter. American Century Companies Inc. now owns 1,992,712 shares of the bank’s stock worth $33,717,000 after purchasing an additional 9,588 shares during the period. Northern Trust Corp boosted its holdings in shares of First Commonwealth Financial by 13.7% in the fourth quarter. Northern Trust Corp now owns 1,483,405 shares of the bank’s stock valued at $25,099,000 after acquiring an additional 179,250 shares in the last quarter. First Trust Advisors LP boosted its stake in First Commonwealth Financial by 19.9% during the 4th quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank’s stock valued at $21,461,000 after purchasing an additional 210,876 shares in the last quarter. Finally, First Commonwealth Financial Corp PA grew its holdings in First Commonwealth Financial by 0.5% during the fourth quarter. First Commonwealth Financial Corp PA now owns 930,673 shares of the bank’s stock worth $15,747,000 after acquiring an additional 5,055 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Trading Up 0.2%

NYSE:FCF opened at $15.40 on Friday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 11.49 and a beta of 0.81. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. First Commonwealth Financial Corporation has a 12 month low of $13.05 and a 12 month high of $19.96. The company’s 50 day moving average is $15.48 and its 200-day moving average is $16.06.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. First Commonwealth Financial had a net margin of 19.68% and a return on equity of 9.80%. The firm had revenue of $118.51 million during the quarter, compared to the consensus estimate of $117.70 million. During the same period in the prior year, the firm earned $0.37 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Equities analysts anticipate that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.135 per share. The ex-dividend date was Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a yield of 3.51%. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.13. First Commonwealth Financial’s payout ratio is currently 40.30%.

Insider Activity at First Commonwealth Financial

In other First Commonwealth Financial news, Director Todd D. Brice bought 7,000 shares of First Commonwealth Financial stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average cost of $16.09 per share, with a total value of $112,630.00. Following the acquisition, the director now directly owns 10,500 shares of the company’s stock, valued at $168,945. The trade was a 200.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FCF shares. Wall Street Zen cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods lowered their price objective on shares of First Commonwealth Financial from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada dropped their target price on First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.92.

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.