Intech Investment Management LLC Raises Position in First Commonwealth Financial Corporation $FCF

Intech Investment Management LLC grew its position in First Commonwealth Financial Corporation (NYSE:FCF) by 147.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,641 shares of the bank’s stock after acquiring an additional 142,645 shares during the period. Intech Investment Management LLC’s holdings in First Commonwealth Financial were worth $4,040,000 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. Millennium Management LLC boosted its holdings in First Commonwealth Financial by 112.9% during the third quarter. Millennium Management LLC now owns 1,091,740 shares of the bank’s stock worth $18,614,000 after buying an additional 578,893 shares in the last quarter. State Street Corp boosted its holdings in First Commonwealth Financial by 2.4% during the second quarter. State Street Corp now owns 4,734,957 shares of the bank’s stock worth $76,848,000 after buying an additional 112,731 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in First Commonwealth Financial by 17.2% during the third quarter. JPMorgan Chase & Co. now owns 760,796 shares of the bank’s stock worth $12,972,000 after buying an additional 111,586 shares in the last quarter. UBS Group AG boosted its holdings in First Commonwealth Financial by 103.0% during the fourth quarter. UBS Group AG now owns 210,197 shares of the bank’s stock worth $3,544,000 after buying an additional 106,654 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in First Commonwealth Financial during the second quarter worth about $1,704,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Down 1.6%

Shares of NYSE FCF opened at $18.64 on Tuesday. First Commonwealth Financial Corporation has a 12-month low of $15.00 and a 12-month high of $19.14. The company has a market capitalization of $1.90 billion, a PE ratio of 12.35 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.92. The firm’s 50-day moving average is $18.32 and its two-hundred day moving average is $17.63.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. The business had revenue of $133.70 million during the quarter, compared to analysts’ expectations of $134.32 million. During the same period last year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts anticipate that First Commonwealth Financial Corporation will post 1.71 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.0%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 8th. First Commonwealth Financial’s payout ratio is currently 37.09%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

Insider Activity

In other First Commonwealth Financial news, CFO James R. Reske sold 2,072 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $18.52, for a total value of $38,373.44. Following the sale, the chief financial officer owned 81,348 shares of the company’s stock, valued at $1,506,564.96. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Norman J. Montgomery sold 12,964 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $18.37, for a total transaction of $238,148.68. Following the completion of the sale, the executive vice president directly owned 50,104 shares in the company, valued at $920,410.48. This trade represents a 20.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,180 shares of company stock worth $808,454 in the last ninety days. Insiders own 1.90% of the company’s stock.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.