GAMMA Investing LLC Buys 2,321 Shares of First Commonwealth Financial Corporation $FCF

GAMMA Investing LLC increased its stake in First Commonwealth Financial Corporation (NYSE:FCF) by 109.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,438 shares of the bank’s stock after purchasing an additional 2,321 shares during the period. GAMMA Investing LLC’s holdings in First Commonwealth Financial were worth $72,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FCF. Millennium Management LLC boosted its stake in First Commonwealth Financial by 77.7% in the fourth quarter. Millennium Management LLC now owns 48,054 shares of the bank’s stock worth $813,000 after buying an additional 21,012 shares in the last quarter. Two Sigma Advisers LP boosted its stake in First Commonwealth Financial by 35.2% in the fourth quarter. Two Sigma Advisers LP now owns 14,200 shares of the bank’s stock worth $240,000 after buying an additional 3,700 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of First Commonwealth Financial during the fourth quarter valued at approximately $184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of First Commonwealth Financial by 22.7% during the fourth 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 purchasing an additional 40,881 shares during the period. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of First Commonwealth Financial during the first quarter valued at approximately $244,000. 72.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michael P. Mccuen acquired 2,826 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average cost of $17.67 per share, with a total value of $49,935.42. Following the acquisition, the executive vice president directly owned 59,021 shares of the company’s stock, valued at approximately $1,042,901.07. The trade was a 5.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James R. Reske sold 2,190 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $17.74, for a total value of $38,850.60. Following the transaction, the chief financial officer directly owned 88,056 shares in the company, valued at approximately $1,562,113.44. This represents a 2.43% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.17% of the company’s stock.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $16.75 on Friday. First Commonwealth Financial Corporation has a 1-year low of $13.54 and a 1-year high of $19.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.93. The business has a fifty day moving average price of $17.13 and a 200-day moving average price of $16.20. The company has a market capitalization of $1.75 billion, a PE ratio of 12.88 and a beta of 0.82.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results 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 company earned $0.37 earnings per share. As a group, equities analysts expect that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.135 per share. The ex-dividend date was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.2%. First Commonwealth Financial’s payout ratio is 41.54%.

Analysts Set New Price Targets

FCF has been the subject of a number of analyst reports. Zacks Research lowered First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Wall Street Zen raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus 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.