First Commonwealth Financial Corporation $FCF Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its stake in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 6.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 640,985 shares of the bank’s stock after selling 46,656 shares during the quarter. Invesco Ltd. owned about 0.63% of First Commonwealth Financial worth $9,961,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of First Commonwealth Financial by 17.3% in the 4th quarter. Wells Fargo & Company MN now owns 75,028 shares of the bank’s stock worth $1,269,000 after purchasing an additional 11,064 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in First Commonwealth Financial by 6.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 27,458 shares of the bank’s stock worth $465,000 after purchasing an additional 1,588 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of First Commonwealth Financial during the fourth quarter valued at approximately $1,103,000. Raymond James Financial Inc. purchased a new stake in shares of First Commonwealth Financial in the 4th quarter valued at approximately $1,680,000. Finally, Barclays PLC boosted its stake in First Commonwealth Financial by 2.4% in the 4th quarter. Barclays PLC now owns 216,965 shares of the bank’s stock worth $3,671,000 after purchasing an additional 5,168 shares during the period. Institutional investors own 72.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

First Commonwealth Financial Stock Performance

Shares of FCF opened at $17.7060 on Monday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 13.62 and a beta of 0.84. The company’s fifty day moving average is $16.53 and its 200-day moving average is $15.92. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. First Commonwealth Financial Corporation has a 12 month low of $13.54 and a 12 month high of $19.96.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, July 29th. The bank reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $125.88 million. During the same period last year, the business earned $0.37 EPS. Equities analysts expect that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a yield of 3.0%. First Commonwealth Financial’s payout ratio is presently 41.54%.

Insider Transactions at First Commonwealth Financial

In other First Commonwealth Financial news, CFO James R. Reske sold 2,190 shares of the 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 transaction, the chief financial officer directly owned 90,246 shares in the company, valued at $1,503,498.36. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.17% of the stock is owned by company insiders.

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.