Yousif Capital Management LLC Boosts Stake in First Commonwealth Financial Corporation $FCF

Yousif Capital Management LLC grew its stake in First Commonwealth Financial Corporation (NYSE:FCF) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,911 shares of the bank’s stock after buying an additional 1,328 shares during the period. Yousif Capital Management LLC’s holdings in First Commonwealth Financial were worth $632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE raised its holdings in shares of First Commonwealth Financial by 2,911.4% in the first quarter. US Bancorp DE now owns 2,379 shares of the bank’s stock worth $37,000 after buying an additional 2,300 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of First Commonwealth Financial by 109.6% in the second quarter. GAMMA Investing LLC now owns 4,438 shares of the bank’s stock worth $72,000 after buying an additional 2,321 shares during the last quarter. CWM LLC raised its holdings in shares of First Commonwealth Financial by 73.6% in the first quarter. CWM LLC now owns 7,932 shares of the bank’s stock worth $123,000 after buying an additional 3,362 shares during the last quarter. Choreo LLC purchased a new position in shares of First Commonwealth Financial in the first quarter worth $156,000. Finally, Cerity Partners LLC purchased a new position in shares of First Commonwealth Financial during the first quarter worth $163,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Insider Activity

In related news, EVP Michael P. Mccuen bought 2,826 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average price of $17.67 per share, for a total transaction of $49,935.42. Following the completion of the transaction, the executive vice president directly owned 59,021 shares in the company, valued at $1,042,901.07. This trade represents a 5.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James R. Reske sold 2,190 shares of First Commonwealth Financial stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $16.99, for a total transaction of $37,208.10. Following the completion of the sale, the chief financial officer owned 85,866 shares in the company, valued at approximately $1,458,863.34. This trade represents a 2.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,570 shares of company stock worth $112,544. Company insiders own 2.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FCF shares. Wall Street Zen raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. DA Davidson cut shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, First Commonwealth Financial has an average rating of “Hold” and an average price target of $18.90.

First Commonwealth Financial Stock Up 1.0%

FCF stock opened at $16.28 on Thursday. The firm has a market cap of $1.70 billion, a PE ratio of 12.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average is $17.11 and its 200 day moving average is $16.28. First Commonwealth Financial Corporation has a one year low of $13.54 and a one year high of $19.96.

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

First Commonwealth Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.135 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 3.3%. First Commonwealth Financial’s dividend payout ratio (DPR) is 41.54%.

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.