First Commonwealth Financial Corporation $FCF Shares Sold by Northern Trust Corp

Northern Trust Corp trimmed its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,430,628 shares of the bank’s stock after selling 52,777 shares during the period. Northern Trust Corp owned about 1.41% of First Commonwealth Financial worth $22,232,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FCF. Nuveen LLC purchased a new position in shares of First Commonwealth Financial during the 1st quarter worth approximately $5,077,000. Charles Schwab Investment Management Inc. raised its stake in shares of First Commonwealth Financial by 5.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,159,706 shares of the bank’s stock worth $64,642,000 after buying an additional 203,052 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of First Commonwealth Financial by 106.2% during the 1st quarter. Raymond James Financial Inc. now owns 204,795 shares of the bank’s stock worth $3,183,000 after buying an additional 105,478 shares in the last quarter. Vest Financial LLC purchased a new position in shares of First Commonwealth Financial during the 1st quarter worth approximately $1,473,000. Finally, Public Sector Pension Investment Board raised its stake in shares of First Commonwealth Financial by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 321,672 shares of the bank’s stock worth $4,999,000 after buying an additional 68,913 shares in the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $17.74 on Monday. First Commonwealth Financial Corporation has a 1-year low of $13.54 and a 1-year high of $19.96. The company has a market capitalization of $1.85 billion, a P/E ratio of 13.65 and a beta of 0.85. The business has a 50 day moving average price of $16.77 and a 200 day moving average price of $15.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.93.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, July 29th. The bank reported $0.38 earnings per share 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 firm had revenue of $131.33 million during the quarter, compared to the consensus estimate of $125.88 million. During the same period last year, the business posted $0.37 EPS. Sell-side analysts expect that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

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

Analyst Ratings Changes

Separately, Wall Street Zen raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.90.

Insiders Place Their Bets

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