US Bancorp DE Boosts Stock Position in First Commonwealth Financial Corporation $FCF

US Bancorp DE increased its stake in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 2,911.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,379 shares of the bank’s stock after purchasing an additional 2,300 shares during the quarter. US Bancorp DE’s holdings in First Commonwealth Financial were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp grew its holdings in First Commonwealth Financial by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,483,405 shares of the bank’s stock valued at $25,099,000 after buying an additional 179,250 shares during the period. First Trust Advisors LP grew its holdings in First Commonwealth Financial by 19.9% in the 4th quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank’s stock valued at $21,461,000 after buying an additional 210,876 shares during the period. Principal Financial Group Inc. grew its holdings in First Commonwealth Financial by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 576,222 shares of the bank’s stock valued at $8,954,000 after buying an additional 18,825 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in First Commonwealth Financial by 22.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 221,129 shares of the bank’s stock valued at $3,742,000 after buying an additional 40,881 shares during the period. Finally, Barclays PLC grew its holdings in First Commonwealth Financial by 2.4% in the 4th quarter. Barclays PLC now owns 216,965 shares of the bank’s stock valued at $3,671,000 after buying an additional 5,168 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Insiders Place Their Bets

In other news, CFO James R. Reske sold 2,190 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $16.66, for a total transaction of $36,485.40. Following the completion of the sale, the chief financial officer directly owned 90,246 shares of the company’s stock, valued at $1,503,498.36. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.17% of the stock is owned by corporate insiders.

First Commonwealth Financial Stock Performance

Shares of FCF opened at $16.6950 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 12.84 and a beta of 0.84. First Commonwealth Financial Corporation has a 52-week low of $13.54 and a 52-week high of $19.96. The business’s 50 day moving average is $16.45 and its two-hundred day moving average is $15.92.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, July 29th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. First Commonwealth Financial had a return on equity of 9.71% and a net margin of 18.94%.The business had revenue of $131.33 million for the quarter, compared to analyst estimates of $125.88 million. During the same period in the prior year, the company posted $0.37 EPS. Analysts forecast that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.54 annualized dividend and a yield of 3.2%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 41.54%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Royal Bank Of Canada lowered their price target on First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Wall Street Zen upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on First Commonwealth Financial from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, May 2nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, First Commonwealth Financial presently has an average rating of “Moderate Buy” and a consensus price target of $18.90.

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.